T.O. Avoids Foreclosure; Loses $350K With Short Sale

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In a move that avoided another real estate debacle for Terrell Owens, the NFL star has reportedly struck a deal to sell his Dallas condo for $350,000 less than he bought it for.

According to TMZ, Owens paid $1.95 for his 3,559-square foot Dallas condo back in 2008, when he was still a member of the Dallas Cowboys, then, poured an additional $100,000 into the place to pimp it out.

But now that he is in financial trouble, Owens was forced to sell the spot –which is worth significantly less now.

Owens got his bank to accept a short sale on the condo in which the bank agreed to take less money than what’s owed on the loan, thereby avoiding the whole foreclosure process.

 

Read more at Eurweb.com

 

 

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T.O. Avoids Foreclosure; Loses $350K With Short Sale