Today’s edition of the never-ending saga of former heavyweight boxing champ Evander Holyfield ‘s financial woes takes the form of a lawsuit the boxer filed today against a Houston lawyer he says illegally foreclosed on Holyfield’s home.
According to the suit,ย filed in Harris County District Court, Holyfield executed a deed of trust to Jeffrey Stern in 2008 for property at 22ย East Terrace Dr., in exchange for a $560,000 loan from Stern. The suit alleges that Stern and co-defendent Mary Axelrad foreclosed on the home one week before the note was due, allowing Stern to purchase the home,ย violating the terms of the deed of trust.
Holyfield alleges that Sternย sent a notice, prior toย foreclosing on the home, saying Holyfield hadn’t paid homeowner association fees, property taxes, or insurance — but did not give the former champ a chance to make payments.
We left a message for Stern but haven’t heard back yet: we’re mainly
trying to figure out why anyone would lend a guy $560,000 when he owes
half of that (approximately 2,800 Real Deal Grills’ worth) to his
ex-wife
for delinquent child support. He and ex-wife Janice Holyfield have a
son, Elijah; butย he has eight other kids with five other women.ย (The
only reason we can think of to lend a boatload of dough in return for a
note on a home is that you know damn well the dude’s going to be able to
pay you back in time.)
No response from Stern has been filed
with the court.
This article appears in May 6-12, 2010.
