EXCLUSIVE: Stephen Baldwin is packing his bags as his New York home is set to be sold to the highest bidder after failing to pay his mortgage for six years and racking up $1 million in debt
- Actor Stephen Baldwin's New York home is set to be sold off to the highest bidder in March
- After failing to pay his $7,000 a month mortgage for six years, a judge ruled that his house, which he shares with his wife Kennya, will be foreclosed
- Deutsche Bank said that his dept snowballed into a whopping $1.1 million by 2016
- The actor has had a string of financial troubles over the years, including being charged for not filing his New York state tax returns for multiple years in 2012
It looks like Stephen Baldwin, a veteran of 'The Apprentice' and star of crime film 'The Usual Suspects,' better start calling movers to help pack up his belongings.
With a foreclosure auction officially set for March 16 at Rockland County Courthouse, according to recently revealed court documents, the actor's New York home is planned to be sold off to the highest bidder.
Back in 2013, Deutsche Bank filed a foreclosure lawsuit against Stephen and his wife, Kennya, accusing them of defaulting on their loan by failing to make payments.
With a foreclosure auction officially set for March 16 at Rockland County Courthouse, Stephen Baldwin's New York home is planned to be sold off to the highest bidder in March
The actor (pictured here pictured with wife Kennya, left, Caroline Ryan, second right, and his youngest daughter Hailey Baldwin, right) was accused by Deutsche Bank of not paying his mortgage since 2011
Baldwin, 50, had originally taken out an $812,500 loan to purchase the four-bedroom, four-bathroom, 3,071square-foot house in Upper Grandview in 2000. The couple were to pay nearly $7,000 a month on the mortgage.
Baldwin stopped paying his mortgage in 2011, however, and at the time of the filing, he owed almost $800,000 on the loan, according to Deutsche Bank.
Last year, the bank demanded the case move forward, even after Stephen blew off the lawsuit completely. The bank pleaded for the green light to begin the foreclosure process and to force the actor to pay his current debt owed on the mortgage, which had snowballed into a whopping $1.1 million - plus interest.
Baldwin finally headed to court, hoping to have the entire foreclosure lawsuit thrown out and save the property from being sold at auction.
The actor argued that Deutsche Bank 'lacks standing to bring the action, as Plaintiff does not have clear chain of title for the mortgage and promissory note,' claiming the bank would not be able to produce the note for the mortgage.
In December, a judge ordered that Baldwin's home be auctioned off and mandated that the actor and his family vacate the property
The order states the home will be sold at public auction at the Rockland County Courthouse, with profits going towards the million-dollar debt that Baldwin owes the bank
He further claimed that he made payments to the bank, but wasn't properly credited. The actor believed they had wrongfully declared a default against him and accused them of not acting in good faith to negotiate a settlement.
In December, a judge ordered that Baldwin's home be auctioned off and mandated that the actor and his family vacate the property.
The order states the home will be sold at public auction at the Rockland County Courthouse, with profits going towards the million-dollar debt that Baldwin owes the bank.
The actor has had a string of financial troubles over the years, most notably being charged for failing to file his New York state tax returns for multiple years in 2012.
He eventually plead guilty in the case and agreed to pay $300,000 back in taxes and serve 5 years of probation, narrowly avoiding jail time.
Most watched News videos
- Ministry of Defence release build up to Marine A shooting Taliban fighter
- Moment carer is caught on camera manhandling a dementia patient
- Woman filmed performing sex act in Florida court house
- Ivanka posts video of Arabella singing a song for Chinese New Year
- Susie Dent can't resist naughty eight-letter word in Countdown
- MoD video shows build-up to moment marine shoots Taliban fighter
- Sky News presenter accidentally says 'pr**k' in Trump segment
- Moments after Audi R8 GT crashes after driving almost 200 mph
- It's bananas!: Brexit voter says banana shape swayed her vote
- Girl is thrown from theme park ride and dies in China
- Junkie holds young girl at knifepoint as he demands drugs from police
- Loose Women: Farage rows with Saira Khan over US travel ban