Former NFL running back Eddie George recently found out that a home he owns along with some family members in the Nashville-area, will be auctioned off on June 7th.
According to the Tennessean, George’s family accountant Larry Goodman said that the family is upside down and they owe more money then the house is actually worth at this point.
“Because the loan and equity is not in balance where it should be, we want to go through a loan modification process,” Goodman said.
The bank wasn’t willing to work with the George’s, so they missed “four or five payments” in order to prompt some communication, but the bank ended up foreclosing on the home.
“We’re not trying to walk away from anything,” Goodman said. “They love living there, it’s a great house. Like anybody else who buys an expensive house, it flipped on him.”
Hopefully everything will turn out well for George and his family.