
(GoRealNewsNow.com) – Disgraced comedian Bill Cosby faces more legal troubles as his financial empire crumbles and two New York City properties face foreclosure.
Once “America’s Dad,” Cosby now drowns in over $20 million of loan debt, exposing the harsh consequences of his alleged misdeeds.
Bill Cosby, the former star of “The Cosby Show” and once-beloved cultural icon, is facing a financial crisis that threatens to deplete his two valuable New York City properties.
The comedian, who 60 women of sexual assault have accused, now finds himself drowning in over $20 million of loan debt, with foreclosure looming over his Manhattan real estate holdings.
The first property under threat is a townhouse located at 243 E. 61st St., which Cosby and his wife Camille purchased in 1980. Spanning 5,000 square feet, this residence now faces foreclosure due to a $4.2 million loan default.
The property holds sentimental value for the Cosbys, as it was primarily used by their son Ennis, who was tragically murdered in 1997.
Even more troubling is the situation surrounding a second townhouse on East 71st Street, which Cosby bought in 1987 as a surprise gift for his wife.
This six-story, 12,060-square-foot home, built in 1899 and located near Central Park, is now the center of a $17.5 million loan dispute.
The Cosbys have failed to make mortgage payments since June and owe over $300,000 in property taxes.
Meanwhile, the bank’s patience has worn thin. In November, they sent a letter demanding $800,000 in overdue payments, including late fees.
Now, they are seeking the entire $15.3 million left on the mortgage plus $800,000 in interest and late charges. This financial turmoil is a far cry from Cosby’s once-celebrated status as “America’s Dad.”
The comedian’s fall from grace began with numerous allegations of sexual misconduct, which have severely impacted his financial stability.
In 2018, he was convicted of assaulting a woman but served only three years before the conviction was overturned in 2021.
“It’s the second Manhattan foreclosure in less than a month for the disgraced “America’s Dad,” whose reputation went up in flames after 60 women accused him of sexual assault,” court records and reports read.
Furthermore, the Cosby’s financial woes extend beyond these two properties. They have faced previous legal issues over mortgage defaults, including a lawsuit by CitiMortgage for defaulting on a $4.5 million mortgage on another property.
In 2017, Cosby attempted to take out loans to address his mounting legal troubles, a move that has clearly backfired.
Now in his late eighties, Cosby’s reputation is in tatters, and his financial resources are dwindling rapidly.
As the foreclosure proceedings move forward, many Americans are left to ponder the true cost of fame, the importance of personal responsibility, and the long-overdue reckoning for those who abuse their power and influence.
The fall of Bill Cosby from beloved entertainer to financial ruin is a cautionary tale for celebrities and a victory for those who seek justice for victims of sexual assault.
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