Bill Cosby faces foreclosure after failing to pay $4.2M loan
- Bill Cosby is facing foreclosure on his townhouse in Manhattan due to a default on a $4.2 million loan filed by CitiMortgage.
- Documents reveal that after purchasing the property in 1980, Cosby and his wife still owe approximately $3.7 million in principal, plus interest and fees.
- This situation underscores the dramatic decline in Cosby’s public image and financial status following numerous allegations of sexual misconduct.
In the United States, Bill Cosby, the well-known television icon, is currently facing foreclosures on his Manhattan property, a townhouse located in Lenox Hill. The situation stems from a loan default, as revealed by court documents indicating that Cosby allegedly owes a staggering $4.2 million to CitiMortgage. This claim was filed in Manhattan Supreme Court, highlighting that he and his wife, Camille, purchased the four-story residence back in 1980, and it served primarily as a second home, mostly utilized by their son Ennis until his tragic death in 1997. The property, which spans approximately 5,000 square feet, has become a focal point in the current financial distress Cosby is experiencing. It appears from the legal documents that the Cosbys still owe around $3.7 million in principal, with the remaining balance comprising accrued interest and various fees. The history of this residence ties deeply into the family's narrative, as records suggest it played a significant role in their lives, especially following the heartbreak of losing their son. Bill Cosby's reputation has greatly deteriorated in recent years due to accusations of sexual misconduct from numerous women, leading to a conviction for assault in 2018. After serving three years of a ten-year sentence, his conviction was overturned by Pennsylvania's Supreme Court in 2021, but his legal troubles continue. With no representation listed in the current foreclosure case and no comments from his former attorney, Jennifer Bonjean, the situation raises concerns about his ongoing financial and personal hardships. This foreclosure case not only reflects Cosby’s financial struggles but epitomizes the significant shifts in public perception related to him since the sexual assault scandal erupted. Once regarded as 'America's Dad' for his iconic role on 'The Cosby Show,' his legacy is now overshadowed by serious allegations and convictions. The future remains uncertain for Cosby, as he grapples with the legal and financial implications of this latest development in his troubled history.