General News

Stephen Baldwin hit with foreclosure lawsuit

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Jan 29, 2014 | 3:06pm EST

Actor Stephen Baldwin and his wife have been hit with a foreclosure lawsuit. Bosses at Deutsche Bank filed the legal paperwork in October (13), alleging The Usual Suspects star owes approximately $782,000 (£488,750) in back mortgage payments on his New York home, according to RadarOnline.com. According to the court documents, the Baldwins borrowed $812,500 (GBP508,000) from National City Mortgage Co. in 2000, and agreed to pay back over $6,900 (GBP4,300) monthly until April, 2030. Bank bosses claim the actor hasn't made a payment since March, 2011 and they are now requesting permission to allow them to foreclose on the property and order Baldwin to pay any remaining balance. In 2009, Baldwin almost lost the home to foreclosure, but worked out an agreement to keep it. The news is the latest financial blow for the star, who was arrested in December, 2012) amid allegations he owed an estimated $400,000 (GBP250,000) in back taxes, penalties and interest to the Internal Revenue Service for the years 2008, 2009, and 2010. In March (13), the 47 year old pleaded guilty to tax evasion as part of a plea deal to avoid jail time, and was ordered to pay back the outstanding sum over the course of one year. He reduced his tax debt by making a third $100,000 (GBP62,500) payment during a court hearing in New York on 10 January (14).Friday (10Jan14). His record will be wiped clean if he pays the remainder in full by April, 2014.

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