Back in March, Walker blamed his jacked up finances on gambling and looking out for too many people. A couple of months later, he filed for Chapter 7 Bankruptcy in a Miami court to save the Coconut Grove house he’s been trying to sell. But it didn’t help.
At that time he listed liabilities of $12.7 million including his Coconut Grove home. Mortgage lender SunTrust Bank was granted a relief from stay from a May Chapter 7 bankruptcy protection filing Walker made in Miami so that it could file a foreclosure lawsuit which it did in September.
Walker bought the Florida home for $3.1 million in 2005 and signed the $2.15 million mortgage in March 2007, when he was still playing for the Miami Heat but like many players, he was traded around, first to Minnesota and later to Memphis. He retired in from the NBA in 2008. The five-bedroom home is now listed at an even $3 million with real estate agent Andre Shambley of the ERA Herman Group. The Coconut Grove home has a lap pool, Zen garden, a mother in law suite, separate maids quarters, walk in closets and more.
A Crain’s Chicago Business article from last May says that Walker was hit with a $2.3-million foreclosure lawsuit on a mansion in south suburban Tinley Park that he bought for his mother. That article also goes into Walker’s Chapter 7 filing which lists his other assets including his 2006 NBA championship ring, valued at $6,000 two Range Rovers and a $20,000 designer watch.The article also mentions gambling losses including $770,000 owed to Harrah’s in Las Vegas and $500,000 owed to Ameristar Casino.