David Duval Losing $12M Mansion? Former PGA No. 1 Golfer Denies Foreclosure Report
David Duval may be in danger of losing his $12M Colorado mansion to foreclosure.
A report from TMZ says the PGA golfer's Cherry Creek mansion will be auctioned off on November 7 unless he makes a nearly $6 million payment.
TMZ cites documents in the case and reports:
"David and his wife Suzanne took out a loan for $5.9 million back in 2005 to buy a $12.35 million home in Cherry Hills Village, CO ... a suburb of Denver near Payton Manning's new home.
But the bank claims Duval has failed to make his payments ... and now it's going after the golfer's home to get it's money."
Duvall denied that he is facing foreclosure on the home, according to the Washington Post.
The paper reveals that they spoke with the golfer and he "wanted to make clear that his house, which he has been trying to sell for several years, is not in foreclosure."
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The report adds:
"He did not want to explain negotiations with the bank in detail because those talks are private. He also wanted to point out that he was among thousands, if not millions, who made real estate investments that turned sour during the crash."
Last year it was reported how Duval had put both his homes, including the one involved in the foreclosure, up for sale at prices much less than what he paid for them.
He said he wanted to simplify.
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