'Girls Gone Wild' Honcho Joe Francis Faces Mega-Foreclosure
'Girls Gone Wild' Honcho Foreclosure Looms On Fancy Pad
11:40 AM PDT: We just spoke to Joe ... who told us he's contacted his accountant who's going to take care of the problem.
Joe Francis' money problems are compounding -- 7 months after "Girls Gone Wild" declared bankruptcy, his bank has started foreclosure proceedings on his Bel Air compound.
The estate is sick ... worth an estimated $11.4 mil.
According to JPMorgan Chase Bank ... Joe has slacked off on mortgage payments to the tune of $127,686.91.
In addition to "Girls Gone Wild" filing for bankruptcy ... Joe's also been ordered to personally pay $19 million to Vegas casino mogul Steve Wynn. And we're not even gonna mention the jail sentence hanging over his head.
Calls to Joe weren't returned.
