Housing Crisis: Bill Cosby Hit with Second NYC Foreclosure Over $17.5M Loan Default, Court Documents Reveal

Once celebrated as “America’s Dad,” Bill Cosby is now reportedly grappling with foreclosure proceedings on two Manhattan properties, a development that underscores the financial and legal turmoil that has followed the actor in recent years. (Photo via Instagram @billcosby) Loan Problems Court documents filed in Manhattan Supreme Court reveal that Cosby, 87, and his wife, Camille, have defaulted on multimillion-dollar loans for two townhouses. First Foundation Bank is seeking foreclosure on a six-story townhouse on East 71st Street, citing a $17.5 million debt. Meanwhile, CitiMortgage is pursuing foreclosure on a townhouse on East 61st Street tied to a $4.2 million loan. The East 71st Street property, purchased by Cosby in 1987 for $6.2 million, has served as his primary residence. The loan in question combines $12.25 million borrowed in 2010 and an additional $5.25 million in 2014. The bank alleges that repayments ceased in June 2024, and Cosby owes over $300,000 in property taxes on the home, which is now estimated to be worth $14 million. The second property, bought in 1980 for $1.2 million, was primarily used by Cosby’s son, Ennis, who was tragically murdered in 1997. CitiMortgage claims Cosby owes $3.7 million in principal, along with accumulated interest...