Former KISS guitarist Ace Frehley is at risk of losing his home in Yorktown, New York after he allegedly quit paying his mortgage for nearly two years. The type of mortgage loan was not disclosed in the article, but it did state that Frehley owed $703,581.48 plus interest, late charges and other expenses on his $735,000 mortgage.
The foreclosure at hand is classified as a judicial foreclosure because the bank asked a court to order the sale of the home for the amount that Frehley owed. The outcome of the court-ordered sale has yet to be determined.
The cause of the missed payments in unclear. There is speculation that Frehley has succumbed to temptation of drugs, alcohol, and gambling that so many other Rock n' Roll legends have fallen victim to in the past. Whatever the reason, it looks like Ace Frehley will be losing his Yorktown home to a judicial foreclosure.
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