Foreclosure Is Latest Challenge for Knicks' Curry

[clevfan]

July 1, 2009

Foreclosure Is Latest Challenge for Knicks' Curry

By HOWARD BECK
NY TIMES

Eddy Curry is facing foreclosure on his Chicago-area home, the latest sign of apparent financial distress for the Knicks’ beleaguered center.

According to court documents, Curry is behind on $217,502 in payments on a $3.7 million mortgage. The foreclosure filing, which was first reported by The Chicago Sun-Times, was made Monday in Cook County Circuit Court.

The Sun-Times reported that Curry took out a 30-year mortgage, with initial monthly payments of $28,675, when he purchased the home in the Burr Ridge suburb in July 2006. Based on that figure, Curry would appear to be seven months behind on his payments.

Curry’s lawyer, Kelly Saindon, declined to comment.

Two years ago, Curry and his family were the victims of an armed robbery at the house. He has experienced only chaos since then.

Curry has spent the last year coping with legal troubles, personal anguish and professional setbacks.

A former girlfriend, who is the mother of Curry’s 3-year-old son, was murdered in Chicago in January.

Two weeks earlier, a former driver accused Curry of sexual harassment in a salacious lawsuit that painted Curry as a bully and a bigot. The suit was dismissed last month, and the matter was sent to arbitration.

It was a lost season for Curry on the court. He reported to training camp out of shape, developed knee problems and played in only three games. Curry is now working with a Detroit trainer in an attempt to lose weight and regain the athleticism that made him the fourth overall pick in the 2001 draft.

Curry, 26, has two years and $21.8 million left on the contract he signed with the Knicks in 2005. But his career is clearly at a crossroads and his future in New York is in doubt. The Knicks are eager to trade him as they pare the payroll in order to pursue a number of star free agents in 2010.

Although he has earned about $34 million since 2005, Curry has apparently had difficulty paying his bills on time. He has been sued at least five times for nonpayment over the last 18 months. Most of the cases have been resolved, however.

Jacob & Company sued Curry in July 2008 after he failed to pay $452,687 for multiple pieces of jewelry purchased over a three-year period. The case has since been “amicably resolved,” according to Evan Weintraub, the lawyer who represented Jacob & Company. The terms of the settlement are confidential.

In December, Curry was sued for nonpayment by the Casual Male clothing store, which was seeking $47,063. That case also has been “totally resolved,” said Edward Margolis, the lawyer who represented Casual Male. “He paid for the clothes,” Margolis said. “I don’t know if it was an oversight or whatever. This guy’s got so much money, he probably forgot about it.”

In another case, filed in February 2008, Curry was sued by a Chicago trainer named Basil Evelyn, who said Curry breached an agreement to hire him. Evelyn sought $55,926 for his services, in addition to $100,000 in interest, compensatory damages and loss of business and $300,000 in punitive damages, according to a Sun-Times report published at the time. That case was dismissed in December without any money changing hands.

Finally, as part of the sexual harassment suit, David Kuchinsky, Curry’s former driver, sought $93,000 in unpaid wages and reimbursements. That dispute will now be handled by an arbitrator.

[nino brown]

the fact anyone making that kind of cheese would finance anything shows they will soon be belly up. a fool and his money are lucky to get together in the first place

[stevo]

“I don’t know if it was an oversight or whatever. This guy’s got so much money, he probably forgot about it.”

DOESNT SOUND LIKE IT!