Barbara Kavovit is having a mixed bag of a week. While she is touting her new book Heels of Steel (out on June 25) and getting coverage for breaking the glass ceiling in outlets like People and Yahoo Finance, she is simultaneously facing some tougher news. According to Page Six and The Blast, Barbara’s beautiful Hamptons home — where we saw her throw a clambake for her cast mates this season — is reportedly facing foreclosure. The author and real estate developer entered settlement discussions with Deutsche Bank over the $2.4 million she owes.
“Part of being an entrepreneur means that business and life can sometimes take unexpected turns,” Kavovit told Page Six in a statement Monday. “In 2015, I filed for personal bankruptcy protection which has been discharged, and am currently in settlement discussions with Deutsche Bank, with every expectation this will be concluded soon.”
Confused? We get it, mortgage loans ARE confusing. But here’s the backstory: Back in 2006, Barbara bought the home in Wainscott, New York for $7 million and took out a loan from the bank with her father Joseph to the tune of $2.4 million. Barbara’s father passed away in 2013 and she missed a mortgage loan payment in 2015, which still hasn’t been paid. The bank is suing Barbara for $2,482,167 (that’s the original loan amount plus interest) and they’re requesting the judge let them sell the property at a public auction.
Barbara filed her own papers, however, saying that the bank should be holding her late father’s estate responsible for the loan balance, since the deed to the home was transferred to him in 2010.
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