Stephen Baldwin and wife Kennya have filed for Chapter 11 less than a month after almost losing their house.
According to the bankruptcy petition filed in the US Bankruptcy Court in New York by Baldwin, his Upper Grandview, NY, home is worth $1.1 million. However, he owes the bank $1.19 million on two mortgages. In addition to that, they have outstanding debts of $749,974 to the IRS for taxes from 1999; $139,288 for unpaid withholding taxes; and unpaid state income taxes worth $194,527.
To top it all off, the youngest of the Baldwin brothers also has credit card debt worth $70,000.
The filing listing makes no mention of assets, other than the foreclosed house. Baldwin was granted a 30-day postponement to explore all the possible ways he can make good on his defaulted mortgage. The house is scheduled to be auctioned off on Wednesday.
A representative for Baldwin has made no comment yet, so it is still uncertain whether his 1.4-acre property is still up for auction, courtesy of the Rockland County Courthouse.
“Stephen is presently going through a legal situation regarding his mortgage and that situation is still in process. No auction will be happening and all things related to this matter are being handled by his legal representation,” Baldwin rep Brad Taylor stated last June 15. June 24 was the original scheduled date for the auction.
Court papers also made no mention of born-again Baldwin’s Christian ministry, which he began after the 11 September 2001 terrorist attacks.
If the bankruptcy petition is any indication, Baldwin shows no signs of using the “I’m a Celebrity, Get Me Out of Here” argument to get out of this sticky situation. This reality TV show features known personalities living the tough life.
