After being released from prison on sexual assault charges, disgraced comedian Bill Cosby is making headlines in light of one of his New York City townhouses being on the brink of foreclosure.
According to the Seattle Times, Cosby allegedly defaulted on the mortgage for his crib on the Upper East Side after not making payments since June 2024. In the court filing, First Foundation Bank claims Cosby, 87, and his wife, Camille, 80, owe $17.5 million on their loan. The foreclosure complaint isn’t against Cosby personally but “a limited liability company” set up by the married couple, according to the Daily Mail.
The couple first purchased the townhouse, located on East 71st Street, in 1987. Although the Cosbys bought the home to live in, according to the Seattle Times, they no longer occupy the space. According to the New York Post, the couple’s son, Ennis Cosby, primarily used the residence until he was murdered in 1997. The current monthly payment for the townhouse is over $125,000.
In the complaint, the bank alleges the Cosbys were even sent a letter in November giving them a month to pay $800,000 owed including late fees.
But even before the November letter, the Cosbys missed payments in 2023 but were able to pay over $500,000 in October to cover back payments, according to the letter. “Much to the Lender’s chagrin, you managed to keep the loan current for only a few months, but once again there was a failure to pay,” wrote Jay Hack, the lawyer representing First Foundation Bank.
This time around, however, the Cosbys did not pay by the letter’s December deadline, according to the complaint. Now, the bank is demanding the couple pay up the $15.3 million left on the mortgage plus $800,000 in interest and late charges.
Life for Cosby took a drastic turn after he was convicted of sexual assault in 2018. And with money clearly tight for the Cosbys, court records also show this isn’t the first time America’s former TV dad has been sued for allegedly defaulted on a mortgage.
The Seattle Times reported in December, CitiMortgage filed a lawsuit against the Cosbys for defaulting on a $4.5 million mortgage for a separate Upper East Side property. According to CitiMortgage, the couple still owes $3.68 million plus interest in mortgage debt for this second home.
In 2017, Page Six reported Cosby attempted to take out loans to help with his ongoing legal troubles. According to the New York Post, Cosby has no legal representation in this foreclosure case.