
(TheIndependentStar.com) – Known as “America’s Dad,” disgraced comedian Bill Cosby seems to be in trouble again as he is facing the loss of two New York City properties due to massive loan defaults.
This shocking turn of events reveals how far the disgraced comedian has fallen, both morally and financially, since dozens of women accused him of sexual assault.
The former TV star is staring down foreclosure on two Manhattan townhouses, owing a staggering $20 million in unpaid loans.
One property, located on East 71st Street near Central Park, was purchased by Cosby in 1987 for $6.2 million as a gift for his wife Camille.
Now, the bank is demanding the remaining $17.5 million on the mortgage, plus $800,000 in interest and late charges.
Adding insult to injury, the Cosbys have not made a mortgage payment since June and owe over $300,000 in taxes on the East 71st Street home. The current monthly payment for this property is an eye-watering $125,000.
Bill Cosby faces foreclosure on NYC townhouse after allegedly defaulting on a $4.2M loan https://t.co/RrgPqyjY9q pic.twitter.com/KEuMFo5pRc
— New York Post (@nypost) December 5, 2024
The second property facing foreclosure is a 5,000-square-foot townhouse at 243 E. 61st St., purchased by the Cosbys in 1980.
This home, which was primarily used by Cosby’s late son Ennis before his tragic murder in 1997, is now in default on a $4.2 million loan.
“Much to the Lender’s chagrin, you managed to keep the loan current for only a few months, but once again there was a failure to pay,” wrote Jay Hack, the lawyer representing First Foundation Bank.
Cosby’s fall from grace has been as swift as it has been devastating. Once beloved for his role on “The Cosby Show,” the comedian’s reputation was destroyed after being accused by 60 women of sexual assault.
In 2018, Cosby was convicted of assaulting a woman but served only three years before the conviction was overturned in 2021 on a legal technicality.
While liberals might shed crocodile tears for Cosby’s victims, true patriots understand that this case exposes the dangers of the #MeToo movement and its potential to destroy lives based on decades-old allegations.
Cosby, now in his late eighties, resides primarily in a suburban Philadelphia home purchased in 1983.
Regardless of one’s opinion on Cosby’s guilt or innocence, his current predicament serves as a stark reminder of how quickly fortunes can change in America.
From “America’s Dad” to financial ruin, Bill Cosby’s story is a cautionary tale about the perils of fame, the importance of fiscal responsibility, and the long-lasting impact of serious allegations in the court of public opinion.
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