EXCLUSIVE: Ex-NFL star Chad Johnson – Ordered to Pay $220k in Foreclosure Legal Battle or Home will Hit Auction Block Next Month
The Dirty can exclusively reveal Ex-NFL star Chad Johnson has been hit with a $220k judgement in the legal battle over his Miami home … with a judge ordering him to pay up for defaulting on a $150k loan he executed to purchase the pad.
Last year, Johnson was sued by Michael Pomerantz accusing him of defaulting on a $150k loan he gave the ex-NFL star and demanded his Miami home be foreclosed on to pay off the debt. Pomerantz provided a $150k loan to Johnson to purchase his Miami Gardens property. The man accused Johnson of defaulting on the loan last year and refused to pay up on the amount owed.
Per their deal, if a default occurred than the full $150k would be owed immediately. He demanded the court allow him to hit the pad with a lien and to proceed with foreclosure proceedings … along with $161,030.34 for the unpaid balance, interest and late charges.
A hearing was held recently where the judge sided with Pomerantz and ordered the former NFL star to pay the $150k principal plus interest, late fees, attorney fees, unpaid taxes and other costs for a grand total of $220,569.16 which will grow with interest until paid off. Chad has until next month to pay off the debt or the home will be put up for public auction on March 29th in Florida.