Sprewell Loses House, Yacht

In mid-May former National Basketball Association star Latrell Sprewell lost his Milwaukee home to foreclosure, reported the Milwaukee Journal-Sentinel.

Sprewell owed more than $320,000 on the home valued at almost $670,000. He bought it for $405,000 in 1994. The foreclosure went through after Sprewell failed to appear in court.

In January the U.S. Marshals Service auctioned off Sprewell’s $1.5 million 70-foot yacht after he failed to make several $10,322 monthly payments, reported the paper.

In addition last September the state of Wisconsin filed suit against Sprewell for more than $70,000 in back taxes, reported the paper.

June 6, 2008.