Boxing legend Thomas “Hitman” Hearns, a seven-time world champion who made more than $40 million during his career, is facing foreclosure on his Southfield home later this month and owes more than $961,156 in delinquent taxes and mortgage payments, records show.
Hearns, 51, and his wife have defaulted on their mortgage and owe almost $513,000 on the home. And their bank has scheduled a foreclosure sale March 23, according to a legal notice published in the Legal News.
The pending foreclosure is the latest in a prolonged period of financial problems for the most successful boxer to emerge from Detroit’s storied Kronk Gym. He fought in one of the sport’s epic matches 29 years ago, battling Sugar Ray Leonard for 14 rounds before the fight was stopped with Motown’s spindly legged star sagging against the ropes.
What’s owed:
• They owe $512,965 on the defaulted mortgage, according to public records.
• On March 18, the state filed a $5,148 lien against Hearns and his wife for unpaid income taxes , according to public records.
• On March 17, the IRS filed a $145,478 lien against the boxer for unpaid income taxes. According to the lien, he owes the money from 2006.
• On Aug. 19, 2008, the IRS filed a $90,825 lien against Hearns for unpaid income taxes. According to the lien, Hearns owes the money from 2007.
• On March 25, 2008, the IRS filed a $206,740 lien against Hearns and his wife for unpaid income taxes from 2006, according to public records
Their side:
It was unclear what led to the mortgage default and the tax debt, but Hearns is working to keep the house and pay the debts, said lawyer Michael J. Smith of Sterling Heights.
“Tommy’s going to resolve the house issue,” Smith said. “Tommy’s doing fine. It’s just an unfortunate issue that we’re dealing with, and we’re working to get it resolved right away.”
If the home is sold March 23, Hearns could have six months to reclaim the property.
As for the tax debt, Hearns is making payments, Smith added.
“We’re trying to get a bottom line figure of what Tommy believes he owes,” Smith said. “That’s why it’s taken a little bit long.”
From The Detroit News:
