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Ace Frehley in Foreclosure


Evil Rick
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The tough times just keep getting tougher for former KISS guitarist Ace Frehley.

Reports in New York say Frehley is in danger of losing his three-bedroom home north of New York City. U.S. Bank National says in a court filing Frehley stopped paying his $735,000 mortgage in 2011. Tax authorities say Frehley also owes two years’ worth of taxes, or about $18,000.

 

http://b1027.com/ace-frehley-in-foreclosure/

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Sigh. See, you shoulda banked all that KISS reunion cash, Ace...

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Sad thing is that just on his rep alone he should be able to make decent coin these days.

I was thinking the same thing. He and Peter Criss could get a band together and tour doing songs from Frehleys Comet, a few of Criss' songs and throw in a few KISS songs as icing on the cake. How could they not make money doing that?

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he's in his 60s and still has a mortgage?

and still owes 703k out of 705k,,

what the hell was he doing when he was making millions and homes were super cheap?

 

I think what he was doing is called drugs :) that's what his book said anyway.

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To explain why he owes so much was probably due to an interest only loan since was a pre 2008 mortgage.

 

I believe Ace lives on the west coast now so he probably got sick of paying a mortgage that was upside down on value and he just let it go. I doubt he's broke but yes he hasn't handled finances well in the past so I guess he could be.

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I think what he was doing is called drugs :) that's what his book said anyway.

 

yeah,I bought his book also,so theres a few dollars for him at least towards his mortgage :)

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  • 4 weeks later...

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