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.