David Duval Facing Foreclosure of Denver Home

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By Myles Collier , Christian Post Contributor
July 31, 2012|9:48 am

A former top world golfer has been issued a foreclosure notice for his mansion in an affluent Denver suburb.

David Duval, who was once ranked number one in the world and who competed many times with Tiger Woods, has apparently been unable to make payments on a loan used to secure a property outside of Denver.

The reports stem from legal documents obtained by the entertainment website TMZ and showcase the fact that repayments on the $5.9 million loan have not been made.

The records show that Duval was loaned the money in 2005, which was used to buy a $12.4 million home in the ritzy Cherry Hills area.

The bank, who has been struggling to get the remaining payments, has issued a foreclosure notice and if the debts are not corrected, the property will be put up for auction.

Duval has been battling a series of injuries and sicknesses and has not won any major tournaments since 2001. Duval still has an estimated net worth of around $20 million, but he has only been able to win around $25,000 this year.

If the payments for the loan are not paid, it is speculated that the property will go up for auction in November.

It was reported last year that Duval had tried to sell two of his properties last year, even marking down the asking price several times.

Earlier this year Duval was quoted as stating that he was still a "wealthy man" but that he had been hindered by a string of injuries and illnesses, which did not allow him to play golf, according to the Daily Telegraph.

Duval's wife Susie was also quoted, stating that they were trying to simply their lives and that they were looking for a property with less land.

"You get to a point in your life where you try to simplify," she told the Daily Telegraph.

 

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