Ace Frehley is facing foreclosure on his New York home.
Ace Frehley's home in New York is facing foreclosure after the KISS rocker allegedly fell behind on his mortgage payments. The guitarist has not paid the mortgage on his Yorktown pad since March 1, 2011, leading bosses at the U.S. Bank National Association to take immediate action against the musician, reports local publication LoHud.com.
Executives filed legal papers on February 15, 2013, asking a court to order a sale of the house to cover the outstanding balance, which currently amounts to $703,582 plus interest, late fees and other expenses. Frehley - a multi-millionaire - has also fallen behind on the property's county, town and school taxes. He owes $18,558 stemming from the years 2011 and 2012. It's difficult to image Frehley is in any real financial difficulties - he's probably just forgot to pay the mortgage. And his taxes. According to The Richest.org, the KISS man has a net worth of around $35 million. We really don't think he's going to have sell his place to pay the money due on the mortgage.
Ace played as the 'Spaceman' in KISS from the band's inception until his departure in 1982, enjoying a solo career before re-joining Gene Simmons band for a hugely successful reunion tour in 1996. Frehley released his autobiography, No Regrets, in 2011.