Broke Philippoussis offered a lifeline

June 7th, 2009 - 5:10 pm ICT by ANI  

Melbourne, June 7(ANI): Former Australian tennis player Mark Philippoussis has been offered a lifeline to save his Williamstown home as the company which launched court action said it had decided to use “hardship” provisions to help “The Scud”.

Pepper Home Loans chief operating officer David Holmes said his firm was acting on behalf of the lender, GMAC, an American company which had pulled out of the Australian home mortgage market.He said options being considered included suspending or lowering Philippoussis’ home repayments under a “hardship arrangement”.

“The bottom line is we’re not trying to repossess Mark’s property. We’ve been working with Mark and his financial adviser,” The Telegraph quoted Holmes, as saying.

Philippoussis has lost most of his four million pound earnings from sponsorships and tournament prize money and was sued 1.3 million dollars by the American finance company for failing to pay the mortgage on his re-financed home in Melbourne. (ANI)

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