Mortgages Blog

Finance Blogs » Mortgages » Octomom’s home foreclosed

Octomom’s home foreclosed

By Katie Doyle · Bankrate.com
Wednesday, June 20, 2012
Posted: 4 pm ET

While Tanisha Thomas of "Bad Girls Club" is getting married and Kate Gosselin is searching for a talk show, it seems the "Octomom's" reality star status can't save her home. Nadya Suleman, mother of 14 children -- including her "famous eight-us," had her home foreclosed on this week.

According to RealtyTrac, the foreclosure process on Suleman's La Habra, Calif., home took about six months -- four months shorter than the average time to foreclose in California.

The home was originally scheduled for foreclosure auction March 29, but was then listed for sale for $425,000 -- well below the home's estimated market value. With no takers and multiple postponed foreclosure auctions over the past several months, the lender was left with the home.

What's next for Octomom and her brood?

According to RealtyTrac: "Under normal circumstances, the next step for the lender would be to evict the current tenants, Suleman and her 14 children."

We will see what happens.

A potential cash cow could be the release of Suleman's adult movie Thursday. If sales are good, she plans on buying the family a bigger home.

What do you think? Will the movie be enough to get Octomom back on the path to homeownership?

Follow me on Twitter @KatisLaFevis.

«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
1 Comment
Commenter
June 20, 2012 at 4:56 pm

I feel bad for the children. I just hope a rich man seeking attention marries her, simply just to financially support the children.