Sergei Fedorov Facing Foreclosure on Two Michigan Mansions

June 17, 2010 No Comments »

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Sergei Fedorov, better known for scoring hat tricks than missing mortgage payments, is facing foreclosure on two of his Michigan mansions.

The ex-Red Wings star owes more than $2 million on two Bloomfield Hills properties, according to Detroit News.

The PrivateBank and Trust Company filed two notices on foreclosure against the hockey player today, compounding his financial woes.

One home, purchased in 1999 for $1.25 million, has a balance of nearly $1.2 million, and is currently being sold for $999,999, per Zillow.

It’s been on the market for more than two months.

Fedorov acquired another property from his parents in 2003, which has a $915,623 balance and is currently listed for $916,000 on Zillow.

It was last sold for $325,000 in 1980, and peaked in value at more than $2 million in 2006 before falling precipitously (I guess somebody refinanced at some point).

So it looks as if Fedorov is clearly underwater on one property and pretty close to selling for a loss on the other – perhaps a short sale can be arranged?

Fedorov apparently lost $60 million after investing his money with a financial adviser, who he has subsequently sued.

The Russian hockey great played 13 years with the Detroit Red Wings, and is one of their all-time leading scorers.

He is just one of the many ex-sports stars and celebrities dealing with foreclosure, either by necessity or choice.

(photo: dan4th)

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