ACE FREHLEY's Yorktown Home In Foreclosure

[ozone73]

Source: http://www.blabbermouth.net/news.aspx?m ... mID=186627

ACE FREHLEY's Yorktown Home In Foreclosure - Feb. 23, 2013

According to The Journal News, original KISS guitarist Ace Frehley is being accused by a bank of not having paid the mortgage on his home for almost two years. U.S. Bank National Association claims that the musician stopped paying his $735,000 mortgage on his home in Yorktown in Northern Westchester County, New York, 35 miles from New York City, on March 1, 2011.

The bank filed a mortgage foreclosure case on February 15, asking the court to order a sale of the home — which sits on 3.01 acres and has two floors, three bedrooms and three bathrooms — to pay for the outstanding principal of $703,581.48 plus interest, late charges and other expenses.

Frehley was transferred ownership to the property in 2004 by Jendell Productions, which bought the home in November 2000 for $650,000.

Jendell is the name of the fictional home planet for Frehley's extraterrestrial "Spaceman" stage character, who wore silver face paint and black lipstick.

Frehley performed with KISS from its inception in 1973 until his first departure in 1982 before rejoining KISS in 1996 for a very successful reunion tour. Frehley's second stint lasted until 2002 as Ace went back to being a solo artist again, but the stories and memories still remain from touring in one of rock and roll's most successful acts of all time.

Ace's latest album, "Anomaly", was released on September 15, 2009 via Ace's own Bronx Born Records, with Rocket Science providing a full label service platform in the U.S., "Anomaly" was produced and recorded in Westchester County, New York between 2007 and 2009 and was mixed in Los Angeles.

[AnkhWarrior]

Poor ace! Wonder why he stopped paying though...celebs have too many houses anyway lol

[doublev2]

I think that is his only home.

[Genebaby]

Two years and now they are foreclosing? That seems pretty easygoing for a bank.

Doesn't make sense, surely Ace can pay for this place?

[ankh]

this place isn't his actual home, but more a place where he had some sort of business office,so to speak

[metatron]

more a place where he had some sort of business office,so to speak

I smell, starting with the letter S.......Shenanigans!

[doublev2]

Ok its like a second home. Shit ace will end up in low income housing if he's not careful. I guess there will always be some aces angels to come in at last resort.

[1031]

Two years and now they are foreclosing? That seems pretty easygoing for a bank.

Doesn't make sense, surely Ace can pay for this place?

The Housing collapse and economy has so many homes in foreclosure and worth less than the loans that lots of banks are slow to act. Since the new regulations took place its really hard to even qualify for a home loan right now. They cant sell the house, and figure any money they get from the owner is better than none.

We live in a very stable small neighbor hood, and still have at least six homes that were foreclosed after a year and then have sat empty for at least a year. The east coast is worse because the home prices inflated so much before the crash. Aces house would be 350,000 tops before the crash here now only worth about 200,000. Its probably only worth about 450- 500,000 there now. So the bank is in no hurry to take a 250,000 dollar bath on his house.