Saturday, December 09, 2006 6:49 AM
Whitney Houston: Diva in Default
posted by
darenb
Thanks to delinquent mortgage payments totaling more than $1
million, singer Whitney Houston faces the possibility of foreclosure on a home in New Jersey, according to the
Associated
Press. The news service reports that one of two lots owned by Houston was scheduled for public auction on January 4 by the Morris County’s
Sheriff’s office.
Houston’s
publicist told a local newspaper that the property is not in foreclosure and
later was not available for comment to the Associated Press. A property owned
by Whitney E. Houston in Mendham,
N.J., was listed as a pre-foreclosure
on RealtyTrac in June with an original loan amount of $975,000.
Houston
is one of several celebrities in the past year to face foreclosure action of
some kind. Actor Don Johnson
narrowly avoided foreclosure by selling a property at the last minute, and Michael Jackson
received a notice of default for an Encino, Calif., home where his parents reside.
These celebrity-related foreclosure filings — which will probably become more frequent as market conditions
soften — demonstrate that almost every income bracket is susceptible to
foreclosure. Home buyers can get in over their heads, whether they’re in a $60,000
or $6 million home.