If it can happen to Ace Frehley, it can happen to you

By
Real Estate Agent with Samsel & Associates 0790808

 

File:Kiss 1999.jpg

Former Kiss guitarist Ace Frehley hasn't paid his mortgage on his Yorktown, NY, home since March of 2011. And his bank is planning to foreclose. Apparently, Frehley owes over $700,000 in principal and even more in interest, late charges, and fees on the mortgage he took out in 2006.

If that isn't enough, Frehley hasn't paid his real estate taxes on that property since December, 2011 and now owes more than $13,000 in back taxes.

If it can happen to Ace Frehley, it can happen to you. If you're in default on your mortgage or owe back taxes, please seek the advice of an attorney. There may be alternatives such as a short sale that can help preserve your credit rating. 

 

 

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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Rainer
226,219
Rafi Footerman
Mid Jersey Inspections - Edison, NJ
Home Inspector, Mold Inspector, Radon and More!

He should have stayed on better terms with Gene.  That's a gravy train you don't want to leave.

Feb 23, 2013 10:33 PM #1
Rainmaker
1,311,189
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

LOL, Rafi. Good point!

Feb 23, 2013 10:33 PM #2
Rainmaker
2,704,800
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Wayne and Jean,

What a shame - earning all of the money he has, and not managing it well - it can happen to anyone!

Feb 23, 2013 10:35 PM #3
Rainmaker
1,311,189
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Good point, Lisa - the original mortgage was only slightly more than the $700k he owes, so it sounds like he bought more than he could handle.

Feb 23, 2013 10:37 PM #4
Rainmaker
790,129
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
It has happened to a lot of people, some with legitimate hardships and challenging times...
Feb 23, 2013 11:16 PM #5
Rainmaker
974,759
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

One of my sons has a favorite saying... which I thought of as soon as I read your post...

"You can't make this stuff up"

Happy Day

Feb 23, 2013 11:16 PM #6
Rainmaker
1,675,919
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

Ace needs to hook-up and do another original line-up tour. However, marking this is their 40th year reunion I don't think it will happen. Saw them last year BTW, always a good show, first saw them in 1978.

Feb 23, 2013 11:25 PM #7
Ambassador
4,261,641
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Now there is a name I havent heard in many decades, you are right, it can happen to anyone.

Feb 27, 2013 11:15 AM #8
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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