Celebrities

NBA Star Dwyane Wade’s house is in foreclosure: You’ll be surprised to hear why

By  |  0 Comments

BY:  John “Hennry” Harris

As Dwyane Wade and Gabriel Union are getting ready to trade wedding vows in South Beach, his Chicago home is in foreclosure.

According to lawful documents attained by TMZ, Wade stopped making payments on the $225K houseloan on his 7,800 sq. ft., South Holland home, with 6 bedrooms and a basketball court which all sits on a 3 acre lot.

D. Wade reportedly makes over $30 million a year and boasts a substantial net worth of $100 million and it is surprising for some that his $1.2 million home in Chicago is in foreclosure – surprising until one digs a little deeper.

wife
This is the home that he and his former wife Siovaughn lived in with their 2 children until he filed for
divorce in 2007.  What followed was a very bitter divorce and his former wife got the home in a financial settlement along with a substantial financial payout, but was to also assume the payments on the home.  Wade’s lawyer suggests that Siovaughn stopped making payments on the home, which she lives alone.  Wade has custody of his sons.

Wade’s lawyer also adds that he has no further financial obligations to his ex-wife, but it does appear that he signed the loan papers initially.

The bank sent the forclosure notice on August 11th.

Back in July 2013, Siovaughn Funches made a startling public display by portraying herself as homeless sitting on the ground outside the Richard J. Daley Center in Chicago holding
a sign proclaiming: “NBA MIAMI HEAT STAR MOTHER OF HIS CHILDREN ON THE STREETS.”

She also claimed that Wade failed to pay child support.

“I got three months of child support in about a six year period,” she tells onlookers in the video. Funches also says she alone has provided their children with their school uniforms and supplies, leaving her penniless.

“Now I sit here today with nothing left,” she says on camera.


homeless

“Wade and Funches-Wade were married in 2002 and have two sons, Zion and Zaire,” according to The Huffington Post. “Wade filed for divorce in 2007, and after a lengthy divorce and custody battle, the divorce was finalized in 2010.”

Interestingly, the financial agreement was submitted in court prior to Siovaughn making the public display.

“Wade will pay his ex-wife $5 million and there is a non-disparage agreement in the settlement,” according to ESPN.com.