Post by sucks on Dec 23, 2005 21:27:40 GMT -5
Love Pad on the Block
by Sarah Hall
Dec 23, 2005, 10:45 AM PT
We're guessing Courtney Love is on her former sister-in-law's naughty list this holiday season.
A home that the grunge rocker purchased for the family of her late husband, Nirvana frontman Kurt Cobain, back in 1997 is up for public auction, after Love apparently stopped making good on mortgage payments two years ago.
Cobain's sister, Kim, is listed as the resident of the historic home, which is located about 10 miles south of Olympia, Washington, and was constructed in 1903.
Love reportedly owes about $367,000, including the loan balance and legal fees, to Los Angeles-based company WMC Mortgage Corp., which filed for foreclosure in Thurston County Superior Court. Love was named in the suit as a trustee of the Courtney Love Family Trust.
According to an October 2004 lawsuit, Love stopped making payments on the property in December 2003.
Love has until Jan. 6 to come up with the money she owes or else the home will be auctioned off to the highest bidder, who will then have to assume the payments owed, plus pay a property tax estimated at $7,800.
So far, no one has expressed interest in bidding on the property, according to local officials.
It's certainly not the first time Love has run into trouble when it comes to her real estate holdings. In August, a Manhattan financial firm moved to foreclose on her pricey New York condo, claiming she had not made a mortgage payment in months.
The legally challenged singer also had several liens filed against her by her condo association, claiming she had failed to pay common charges and owed thousands of dollars to the building's board of managers.
While it's possible Love simply doesn't want to shell out the cash she owes to settle her various debts, it has also been suggested that she doesn't have the money to do so.
In an interview with Blender magazine last year, Love claimed that "$40 million has been stolen from me and Frances by a fiduciary institution." In July, she blamed former Nirvana drummer Dave Grohl for her financial woes, telling Spin magazine that Grohl had been "taking money from my child for years."
Published reports have suggested Love may be looking to unload her rights to Cobain and Nirvana's song catalogue in a desperate effort to raise funds.
The move would likely not sit well with Cobain's former bandmates, Grohl, Krist Novoselic and Chad Channing, who battled with Love for years over control of the songs and royalties.
At present, Love is serving out the remainder of a 180-day drug rehab sentence for violating her probation on two misdemeanor drug charges and a misdemeanor assault charge.
Last month, a judge ruled that Love could complete her court-ordered treatment in an outpatient program as a reward for the "good progress" she was making.
The America's Sweetheart singer is due back in court Jan. 20 for another progress report.
www.eonline.com/News/Items/0,1,18027,00.html
by Sarah Hall
Dec 23, 2005, 10:45 AM PT
We're guessing Courtney Love is on her former sister-in-law's naughty list this holiday season.
A home that the grunge rocker purchased for the family of her late husband, Nirvana frontman Kurt Cobain, back in 1997 is up for public auction, after Love apparently stopped making good on mortgage payments two years ago.
Cobain's sister, Kim, is listed as the resident of the historic home, which is located about 10 miles south of Olympia, Washington, and was constructed in 1903.
Love reportedly owes about $367,000, including the loan balance and legal fees, to Los Angeles-based company WMC Mortgage Corp., which filed for foreclosure in Thurston County Superior Court. Love was named in the suit as a trustee of the Courtney Love Family Trust.
According to an October 2004 lawsuit, Love stopped making payments on the property in December 2003.
Love has until Jan. 6 to come up with the money she owes or else the home will be auctioned off to the highest bidder, who will then have to assume the payments owed, plus pay a property tax estimated at $7,800.
So far, no one has expressed interest in bidding on the property, according to local officials.
It's certainly not the first time Love has run into trouble when it comes to her real estate holdings. In August, a Manhattan financial firm moved to foreclose on her pricey New York condo, claiming she had not made a mortgage payment in months.
The legally challenged singer also had several liens filed against her by her condo association, claiming she had failed to pay common charges and owed thousands of dollars to the building's board of managers.
While it's possible Love simply doesn't want to shell out the cash she owes to settle her various debts, it has also been suggested that she doesn't have the money to do so.
In an interview with Blender magazine last year, Love claimed that "$40 million has been stolen from me and Frances by a fiduciary institution." In July, she blamed former Nirvana drummer Dave Grohl for her financial woes, telling Spin magazine that Grohl had been "taking money from my child for years."
Published reports have suggested Love may be looking to unload her rights to Cobain and Nirvana's song catalogue in a desperate effort to raise funds.
The move would likely not sit well with Cobain's former bandmates, Grohl, Krist Novoselic and Chad Channing, who battled with Love for years over control of the songs and royalties.
At present, Love is serving out the remainder of a 180-day drug rehab sentence for violating her probation on two misdemeanor drug charges and a misdemeanor assault charge.
Last month, a judge ruled that Love could complete her court-ordered treatment in an outpatient program as a reward for the "good progress" she was making.
The America's Sweetheart singer is due back in court Jan. 20 for another progress report.
www.eonline.com/News/Items/0,1,18027,00.html
