Boxer Evander Holyfield forced to move out of his foreclosed homeJuly 10th, 2012 - 8:05 pm ICT by Aishwarya Bhatt
Georgia, July 10 (THAINDIAN NEWS) Boxer Evander Holyfield has moved out of his Georgia mansion under duress. It may be recalled that the retired boxer has been going through a hard time financially and thus he was way behind payments on his Georgian mansion. The mansion was sold at a public auction in March for $7.5 million.
His bank had foreclosed the property as he was behind $14 million in his mortgage payments. Bank officials had threatened him with jail time for failing to make his payments.
Evander was hoping that he would be able to persuade the new owners of his mansion to allow him some more time to stay and perhaps if his financial condition improved then he would also be able to buy his beloved mansion back.
However the negotiations with the new owners did not work out and ultimately Evander was left with no chance but to move out of his house. The media was waiting outside his house to take pictures of the moving trucks which transported the boxer’s belongings.
However Evander’s financial woes do not end here, as he still owes money to the US tax officials.
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Tags: 5 million, bank officials, belongings, boxer, duress, evander holyfield, financial woes, foreclosed home, georgian mansion, hard time, jail time, money, mortgage payments, moving trucks, negotiations, public auction, tax officials