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Terrell Owens

Foreclosure Fight in Miami

5/17/2012 12:20 AM PDT BY TMZ STAFF
EXCLUSIVE

0516_terrell_owens_tmz
No light at the end of the tunnel for Terrell Owens -- TMZ has learned, the former NFL star allegedly owes over a million bucks on a fancy Miami beach condo ... and now, the bank wants to foreclose on it.

It's one of the last homes Terrell still owns after being forced to sell off several others -- most recently in Dallas -- but Deutsche National Bank sued him in April, claiming he still owes $1.47 million on the property ... and hasn't made a payment in 6 months.

According to mortgage docs attached to the lawsuit, Terrell originally took out a loan worth $1.55 million in 2006 ... and had faithfully been making monthly payments of $5,126 ... that is, until last November.

Terrell has responded to the lawsuit, claiming the bank "lacks standing" to foreclose on the property -- and he refuses to admit there's an outstanding balance problem.

For more sports stories, check out tmzsports.com!
11 COMMENTS

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1.

JugEars McKenyan Sr..    

According to mortgage docs attached to the lawsuit, Terrell originally took out a loan worth $1.55 million in 2006 ... and had faithfully been making monthly payments of $5,126 ... that is, until last November.-------man those are some good terms, my younger bro has a 1.5 mil home in Winnetka IL sitting empty while he moved his family into a 4 mil home next to Smashing Pumpkin's lead singer Billy Corgan and his note on the mil home is 40g's a month. Must be the affirmative action rate or something,

797 days ago
2.

Cici    

Sounds like Terrell thinks he's got a property that the bank can't quickly prove it owns (a la the robodoc scandal). Sounds like he is demanding the bank produce the note. It would be pretty interesting to watch this unfold, TMZ.

797 days ago
3.

Octocunny    

despised...will never play in the NFL again...

797 days ago
4.

Karmagal    

I dont get it.. He made close to 80 mil playing football not to mention his endorsements. What the hell did he do with all that money? And he got a boat load doing those dumb as s reality shows. TO you need a better Financial Adviser brother cuz you should have been able to live off the interest alone.

796 days ago
5.

Meanie    

Hoodsters don't get decent math skills,...

796 days ago
6.

News Flash     

His friends are blood sucking leaches.

795 days ago

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