Slade's home is in AUCTION status per realtytrac.com. It lists his name and everything.I wonder how the outstanding balance on his loan is $1,408,662 when he "purchased" the house in 2002 for $822,000? Can we not speculate that he took out home equity loans on a home he never really paid for so he could "buy" his & Jo's lifestyle? Easy come, easy go!
Slade Smiley always talks about being rich. He rents/ owns a house in Coto De Caza that has been listed for over 250 days and with only one price reduction. Maybe the reason it is listed is because Slade needs money and the appreciation spigot has been turned off. He bought the place in July of 2005 and less than a month after he bought the place he got a new second pulling out $20k and ten months later he got another new second extracting almost $100k for a total balance on the second of $225k.
It would be obvious things are not going so well when the NOD was filed on 4/30/07 and how he owes his pay option lender $15k at the time. Of course if he only made his minimum payment it would be an additional $50k on top of the $1.28mil he borrowed for the first loan. So assuming only the minimum payment was made we have a total possible mortgage debt of $1.57mil. But wait there is more since he hasn’t paid his property taxes there is an additional $20k and of course a family attorney is owed about $12k and filed a lien against the home. Now the total with the commission and fees he is barely breaking even.
If all those nice suits, diamond rings, high end cars and other various OC life expenses he has some serious credit card debt on top of all that.What happened? He was one of the people who started United Title and an assistant vice president with them. It appears they sold to Land America and he should have received a decent amount for the buy out. Plus he has a highly rated show and is producing his girlfriend/fiance Jo’s singing career. Even the LA Times had recent article about how well he was doing.
The lesson is don’t buy Hummers, MBZs, big diamond rings for girls who won’t marry you and a house you can’t afford. Oh and I almost forgot this house was a past bubble victim when it was bought back by the bank in 1995 at the trustee’s auction for $568k when the unpaid debt was $573k. The bank sold it seven months later for $540k.Slade's house is in foreclosure and he continues to chase around a 26 year old alcoholic while his son has a terminal illness.
7 comments:
Very few people are aware the Slade Smiley youngest son Grayson has been suffering with a rare form of Brain Cancer which is why Slade has moved to Los Angles, to be near his son and his doctors. I understand Grayson has had more than $2,000,000 in procedures in the last 2 years. Mr. Smiley has not been working as a result of attempting to spend tiem and care for his dying son so not everything is always as it appears.
Anonymous..
Please do explain how partying several nights a week and making sure your pic is shown partying in LA is how you take care of a dying child. His son had cancer during Real Housewives first seasons as well and he didn't move. No, he moved now because Jo left him and his job tanked and he thinks he is in his twenties. If he was only in LA to take care of his son then praytell why all the partying??? hmmm..... his actions speak loud and clear why he is in LA.
Interesting that Mr. Smiley moved after Jo left him and before even his own son moved to LA. BTW, what about the baby momma, it seems she is the one doing all the work, trying to care for their son while Mr. Smiley is off chasing little girlz skirts. I heard the baby momma had Grayson pulled from the second season because Mr. Smiley wanted to show America his son struggling with his cancer...notice how he never mentioned his son on the show after. A little boy is struggling with such a horrific disease and all Mr. Smiley does is chase a "has Been" that will be, lose his job and insurance...let me think not a candidate for father of the year!
these people are such LOSERS !
thank you for making me so normal @$$ wipe
I saw slade in Vegas, this past february 2010, trying to act like a big shot, reality is, he is not, ever was, his 15 min of fame never happened, and he is broke, his last hope would be to try to hang on to his latest blonde, since she is a perfect target, young, dumm, but, even her, is finding out now, he is a train to nowhere, and is why she is starting to date someone she met in LA, that actually has real $$, and can take care of her
As another poster wrote , everything is NOT as it appears, Try paying for medical procedures, Insurance covers NOTHING over 1 Million dollars, It's all on the parent..The only mistake Slade made , was wasting money on Jo
Slade is a wanna-be and Gretchen won't even consider marrying him. She said maybe a lease but she is catching on. Without the show, neither of them are great at anything. Slade supposedly lasted six weeks as a mortgage originator and was let go. He is a mooch and he stole money from the public including anyone reading this. He over-mortgaged his home through fraud and left it to working Americans to pay for. Look at the state of housing. People like Slade were very instrumental in what we are dealing with now. God bless his son who he uses as a "poor me" scapegoat. Creepy, old ass chaser.
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