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Ex-Dolphin Daunte Culpepper Loses His Florida Home in Foreclosure Court

culpeppers.jpg
via Wrightsonjackson/Wiki Commons
Daunte Culpepper, one of several players who have been part of the Dolphins' never ending post-Dan Marino quarterback carousel, has lost his South Florida home in foreclosure court.

According to the AP, Culpepper bought the nearly 10,000 square foot Broward County home back in 2006 while he was still playing for the Dolphins. He plopped down $3.6 million for it, but the bank claimed he still owed $3 million.

Culpepper surrendered the home to SunTrust Bank back in April to avoid foreclosure, and now the bank has dropped their suit against the former QB.

Though, Culpepper won't be homeless when he visits the area. Court records show he still owns another home out in Weston.

Culpepper last played in the NFL back in 2009 for the Detroit Lions. He last played for a UFL team in 2010, but is currently unsigned and is all but officially retired.

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4 comments
kimbrough88
kimbrough88

It is sad that these ballerers can't get their finances in order.They seem to forget that NFL means "Not For Long".

jgcamp99
jgcamp99

It's the Nature of the NFL, or any sport. A player comes and puts in a season or two and then moves on to Oakland and plays another year or two ?

frankd4
frankd4 topcommenter

having a second FLORIDA home suggests to me that like many of these super-stars with public exposure a developer will have them purchase a grossly overpriced house to bring attnetion to and rip-off prospective portential homebuyers who become enamoured that a celebrity baller is a resident - go look at all the basketball players that have taken losses on multi-million dollar sales / disposals of their penthouse units

i think even TIGER WOODS home in ISLEWORTH went for a loss after years of overbuilding overpriced homes were sold - it's simply a cost of doing business to the developer who recoupes the loss on the one celebrity residence by killing every other dupe who buys in that neighborhood

i would guess even A-FRAUD is sustaining a reimburseable loss on his sale and certianly the VERSACE mansion will go for around $30 million at AUCTION instead of the asking $175 million with the loss being absorbed by the duped "investors" who were star-struck by celebrity

frankd4
frankd4 topcommenter

 

why not IF the bank let's him off the hook for the difference between the mortgage principal owed and the net realizable amount in a short sale ?

WHO wants to pay off a $3 million dollar mortgage if the house isn't worth it anymore ?

HE has already apparently LOST his $6oo,ooo downpayment amount in addition to any mortgage payments he did make

everyone i know would walk away IF ONLY the bank doesn't pursue them for the deficiency

ADDITIONALLY this it the last year the IRS will allow debt forgivness NOT to be includable as income for federal tax purposes so dante is saving himself an income tax headache as well

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