Lindsay Lohan's mother Dina 'set to lose her home after defaulting on $1.3million loan'

By Bobbie Whiteman For Dailymail.com

Published: 14:58 EST, 12 January 2017 | Updated: 15:33 EST, 12 January 2017

Lindsay Lohan has bailed her mother out of her monetary woes in the past, but this debt may be too much for the star.

Dina Lohan is on the brink of losing the family's two-story home in Merrick, on Long Island, NY, to foreclosure, according to Page Six.

She bought it for $650,000 in 2004 but then took out a $1.3 million loan on the property where Lindsay, 30, and her siblings Michael Jr., 28, Ali, 22, and Dakota, 19, lived as children.

Under threat: Dina Lohan is on the brink of losing the family's two-story home in Merrick, on Long Island, NY, to foreclosure

Court records from New York’s Nassau County show that JPMorgan Chase Bank sued the 54-year-old three years ago for allegedly defaulting on the mortgage payments.

The lawsuit claimed Dina 'failed to comply with the conditions of the mortgage … by failing to pay portions of principal, interest or taxes, assessments, water rates, insurance premiums, escrow and/or other charges.'

It appears that Lindsay’s mom may have worked out a payment arrangement with the bank at that time, because the case went dormant.

New owner?: A New York court has given JPMorgan Chase Bank permission to foreclose and sell the 4,119-square-foot, Colonial-style house and pool after the 54-year-old failed to keep up payments on her $1.3 million mortgage

But last February JPMorgan Chase Bank went back to court, demanding foreclosure and sale of the 4,119-square-foot, Colonial-style house and pool.

Dina did not turn up in court to defend herself and on December 1, the judge granted the bank’s motion for summary judgment, giving it the right to foreclose and hold an auction to sell the home.

The next step will be for the bank to file its plan for a foreclosure sale, according to Page Six.

United front: Dina stood by her daughter in this shot of she and Lindsay leaving a Los Angeles court in 2013, but the star may not be able to bail her mother out of her debt

It estimated that the house is now worth just under $893,00, some $400,000 less than Dina borrowed on it.

Back in 2012, Lindsay stepped up and gave her mother $40,000 to help prevent foreclosure, according to Radar.

Dina, who made a name for herself as a reality star in Living Lohan, Lindsay and, most recently, Family Therapy With Doctor Jenn, has yet to file any opposition to the current court order.

 

Comments (171)

Share what you think

 View all

The comments below have not been moderated.

 View all

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

Add your comment

By posting your comment you agree to our house rules.

Who is this week's top commenter? Find out now