Monday, January 09, 2006

Love Pad Seized


It's a safe bet that there's no love lost between Courtney Love and her former sister-in-law these days.
A home that the grunge rocker purchased for the family of her late husband, Nirvana frontman
Kurt Cobain, in 1997 became the property of a Los Angeles mortgage company Friday after a foreclosure auction failed to generate any bids.

Cobain's sister, Kim, had been living in the historic home, which is located about 10 miles south of Olympia, Washington, and was constructed in 1903. She was said to have moved out before the auction.
WMC Mortgage Corp. filed for foreclosure on the home last year in Thurston County Superior Court, naming Love in the suit as a trustee of the Courtney Love Family Trust.
According to an October 2004 lawsuit, the former Hole frontwoman stopped making mortgage payments in December 2003.
Love could have put a stop to the auction by paying the reported $386,000 she owed against the loan balance, court costs, sheriff's fees and interest, but apparently decided against saving the day, not to mention her sister-in-law's home.
It's certainly not the first time Love has run into trouble when it comes to her real estate holdings. In August, a Manhattan financial firm
moved to foreclose on her pricey New York condo, claiming she had not made a mortgage payment in months.
The legally challenged singer also had
several liens filed against her by her condo association, claiming she had failed to pay common charges and owed thousands of dollars to the building's board of managers.
While it's possible Love simply doesn't want to shell out the cash she owes to settle her various debts, it has also been suggested that she doesn't have the money to do so.
In an interview with Blender magazine last year, Love claimed that "$40 million has been stolen from me and Frances by a fiduciary institution." In July, she
blamed former Nirvana drummer Dave Grohl for her financial woes, telling Spin magazine that Grohl had been "taking money from my child for years."
Published reports have suggested Love may be looking to unload her rights to Cobain and
Nirvana's song catalog in a desperate effort to raise funds.
The move would likely not sit well with Cobain's former bandmates, Grohl, Krist Novoselic and Chad Channing (the band's drummer on the album Bleach replaced by Grohl), who
battled with Love for years over control of the songs and royalties.
At present, Love is serving out the remainder of a
180-day drug rehab sentence for violating her probation on two misdemeanor drug charges and a misdemeanor assault charge.
Last month, a judge ruled that Love could complete her court-ordered treatment in an
outpatient program as a reward for the "good progress" she was making.
The
America's Sweetheart singer is due back in court Jan. 20 for another progress report.

0 Comments:

Post a Comment

<< Home