O.J. Simpson Faces Foreclosure on Florida Home

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on January 17 2012 12:44 PM
O.J. Simpson
O. J. Simpson, the former football star who gained notoriety during a 1995 murder trial, is facing foreclosure on his Florida home. Reuters

O. J. Simpson, the former football star who gained notoriety during a 1995 murder trial, is facing foreclosure on his Florida home, The Associated Press reported.

In September, JPMorgan Chase filed to foreclose on his four-bedroom, four-bathroom house in the Kendall neighborhood, near Miami. Simpson's attorney filed to dismiss the case, but no decision has been made.

Simpson purchased the 4,233-square-foot house, at 9450 SW 112th Street, for $575,000 in 2000 and took out a $592,000 mortgage, according to property records. The home's 2010 assessed value was $478,401, reflecting a drop in home prices throughout the area.

Simpson is currently serving jail time following a 2008 conviction for kidnapping and armed robbery, but is appealing that decision. He has also been ordered to pay $33.5 million in the wrongful death of Ronald Goldman, which has put a drain on his finances.

Although Simpson's legal troubles put him in a unique financial position, he owns property in one of the states that has been hardest hit by the housing crisis. According to RealtyTrac, Florida had 182,000 properties in foreclosure in 2011, making it the seventh highest state in the country.

Foreclosures were down 65 percent from the prior year, but the decline was attributed to delays stemming from faulty paperwork and robosigning.

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