Stephen Baldwin is in deep financial trouble.
A foreclosure auction has been officially set for March 16, when the actor's New York home will be sold by the bank to the highest bidder. Ouch!
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According to court documents obtained by Dailymail.com, Baldwin hasn't paid his $7,000/month rent since 2011 and has racked up approximately $1.1 million in debt owed to Deutsche Bank.
Appearing in court last year, Baldwin argued that Deutsche Bank "lacks standing to bring the action, as Plaintiff does not have clear chain of title for the mortgage and promissory note."
He also stated that he had made his mortgage payments but somehow hadn't been properly credited. Sure!
His arguments apparently didn't work because in December a judge declared the house would be up for auction and that Baldwin and family must vacate the premises.
That truly sucks, but maybe Stephen's fave Donald Trump can lend him some money???
Donny doesn't have that many loyal celebrity backers after all! Can he really afford to lose this one? LOLz!
[Image via WENN.]
Tags: for reals estate, legal matters, stephen baldwin