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Former NBA Star Antoine Walker Not So Great At Making Home Mortgage Payments!

Authored By: 
Mark Rehmi
One would think after landing a $71 million dollar deal with the Boston Celtics (even if it was ten years ago) that Antoine Walker would have some of that cash still lying around! Some unfortunate events and bad habits, however, have landed Walker in some big financial woes and on the ever-growing bank foreclosures list many celebs are facing these days.

Apparently the former NBA star can't stop gambling—he owed approximately one-million in gambling debts which caused Lake Tahoe law enforcement officials to arrest him. Beyond that, he's facing payback for some hefty promissory notes from JP Morgan Chase Bank, American Express and Wachovia Bank.

The home in question sits in Miami Florida (he also had a stint with the Miami Heat team) and in 2005 he purchased the home for a mere $3.1 million. Amenities in the Coconut Grove home includes five bedrooms, a Zen garden, a lap pool, maid quarters and yep—a mother-in-law suite but who doesn't need this last amenity right? The home is currently listed for $3 million.

And, if one home isn't enough to land Walker on the foreclosure listings of the rich and famous—why not two? He also bought a home for his Mom in Tinley Park Illinois which too is in foreclosure! The lender on the Illinois home has filed a $3 million foreclosure lawsuit on the home.

Being talented apparently didn't help this sports star who left the league in 2008 and he's filed Chapter 7 listing the Miami house in the filing. As of this writing, the lender on the home, SunTrust Bank won in court to keep the Miami house out of the bankruptcy in an attempt to collect monies due from Walker.

Note to Moms and Dads everywhere with tall and talented basketball kids—teach them how to manage their finances. If they do make it to the NBA, the opportunity to spend is indeed peer pressure and something Antoine Walker should have learned at a very young age!

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