OJ Simpson’s home goes into foreclosure

By Pankaj Ladhar of Manos • Alwine P.L.

Not even celebrities are immune from the problem of home foreclosures in Florida, as illustrated by the foreclosure being levied against the infamous former NFL football player, OJ Simpson, on his $575,000 home in Miami. Simpson has requested that the foreclosure be dropped, but as of yet, no action has been taken. It remains to be seen whether Simpson will be able to keep the home or not.

The loss of Simpson’s home comes as a result of snowballing financial and legal troubles. Simpson, 64, is currently serving jail time for his part in trying to steal sports memorabilia from a Las Vegas casino. His jail sentence carries up to a 33-year stint, though Simpson is appealing his conviction. And while he was acquitted of earlier charges of the murder of her ex-wife and her friend, Ronald Goldman, he was charged in a civil court with wrongful death and ordered to pay $33.5 million in restitution to Ronald Goldman’s family.

This judgment is likely to be a big part of the reason that Simpson finds himself in the financial situation he does now. While he still receives income from the NFL and other pensions that cannot be touched to pay the restitution to the Goldman family, most of his earnings, including those for a ghostwritten book recently published, and movies he has been in, go to the Goldman family. These judgments put Simpson in perilous financial straits and are likely to be the main reason for the possible foreclosure of his Florida home.

Source: The Washington Post, “Bank foreclosing on O.J. Simpson’s Florida house while he serves prison time in Nevada,” Jan. 16, 2012