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The McBroom family, better known on YouTube as the ACE family, presented their magnificent home to 22 million viewers. YouTube / The ACE family
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YouTube stars Austin and Catherine McBroom are threatened with eviction from their $ 10 million home.
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Videos on her ACE Family channel often take place at the LA mega mansion.
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The property was returned to its lenders after a foreclosure auction failed to attract buyers.
Austin and Catherine McBroom share a fairytale lifestyle on their ACE Family YouTube channel, which has more than 19 million subscribers. The family, which includes two daughters (3 and 5 years old) and a 1-year-old son, moved to a huge $ 10.1 million mansion in Los Angeles in 2019, which is featured in most of their videos is.
But real estate records obtained from insiders show that their idyllic lifestyle could be in financial danger.
The McBrooms serve as the CEO and Secretary of Ace Hat Collection, Inc, the ACE family umbrella company. Public property records indicate that Ace Hat Collection signed a deed – a legal agreement between a lender, borrower, and trustee – for the Los Angeles property on July 19, 2019.
Until May 2021, the property was threatened with foreclosure in a legal phase known as pre-foreclosure. On October 19, it was returned to the Beneficiary – a legally designated entity receiving benefits from financial products – when it received no bids in a public foreclosure sale. In this case, the beneficiary is a financial lender called 5 Arch Funding Corporation.
The McBrooms no longer own the house, as the records show. However, due to California’s extrajudicial foreclosure law, 5 Arch Funding Corporation would have to file and win an eviction lawsuit to get them to leave the property – so if they voluntarily leave or pay their remaining debt they will not be evicted. Otherwise, there could be a lengthy judicial eviction process.
A lawyer representing Ace Hat Collection, Inc. – McBroom’s company – said when asked over the phone that he was unable to comment on the foreclosure sale or the status of the property. Other McBrooms representatives did not respond to Insider’s requests for comment.
The story goes on
The property’s trustee, California TD Specialists collection firm, did not immediately respond to Insider’s request for comment.
With more than 19 million YouTube subscribers, the McBrooms have been the subject of online chatter about their lavish lifestyle for years. The first online source to uncover real estate records related to their foreclosure was a gossip forum called Lipstick Alley, which speculated earlier this year that the McBrooms were in financial trouble.
A document suggesting her home was in trouble was leaked in July 2021
According to a collection issued by a debt collection agency and the McBroom residence on 21. Then, on August 30, a notice of sale was sent to the McBrooms by the trustee stating that their property was at public auction for an estimated 9, $ 3 million would be up for sale.
The debt collection company’s announcement was leaked online in July after it was revealed that Ace Hat Collection had been approved for a federal loan of $ 108,332 under the Paycheck Protection Program (PPP) in May 2020, according to the ProPublica beneficiary database Program. Ace Hat Collection used $ 20,000 of the loan to pay off mortgage interest in 2020, the ProPublica database shows.
Both Austin and Catherine denied rumors that they would be evicted.
“If no one is evicted, no one moves,” Austin wrote on Instagram on July 8, 2021, the day after the breach notice leaked online. “Stop believing everything the haters on the internet say!”
Catherine wrote on Snapchat on July 19 that the chatter about the foreclosure of her home was a “blessing”.
“All the false stories and untrue rumors have been a hidden blessing,” she wrote. “You showed me how blessed I am and how close I am to God. I feel so alive!”
McBrooms’ $ 10 million mansion was moved into foreclosure in 2021
An online listing for the auction states that the property was listed on October 19 with an opening bid of $ 9.07 million and returned to the beneficiary after the auction. Video footage of the auction was made by a YouTuber named Static Jon.
No bids were made at the auction that required bidders to submit the full amount of cash on-site under California’s out-of-court foreclosure law.
In his video, Jon asked an auction participant if it was normal for houses like McBroom’s to go on sale.
“9 million?” She answered. “No, that’s not normal for these guys.”
The McBrooms are involved in a number of other lawsuits
The ACE family channel posted a video on their channel and then quickly deleted it. YouTube / The Ace Family
The foreclosure of their mega mansion is just the latest scandal to hit the ACE family.
Austin’s company Simply Greatest Productions has been sued by media company LiveXLive. A LiveXLive attorney told Insider that McBroom’s boxing event was built on a “pile of lies.” LiveXLive called for $ 100 million in their lawsuit for alleged non-performance.
Catherine was sued by TBL Cosmetics, Inc., a manufacturing company that developed and sold 1212 Gateway. The insider-viewed civil lawsuit against them alleged that McBroom staged a “coup” for the skin care brand to prevent TBL Cosmetics from benefiting from 1212 Gateway.
Ace Hat Collection also earlier this year petitioned two separate construction companies with the Los Angeles County Superior Court System to release mechanic liens typically filed by contractors who have never received payment for a completed project or supplies they provided. A petition was rejected by a judge; the other waits for the judgment.
A lawyer representing Ace Hat Collection confirmed to Insider that he appealed on October 5 on behalf of the company’s civil lawsuit against a heavy equipment manufacturer that holds a mechanical lien on Ace Hat Collection, Inc.
The McBrooms have not yet publicly addressed the foreclosure debates. Austin hasn’t posted on Instagram since June 20, while Catherine most recently posted an ad for her Poshmark page selling her used clothes.
Read the original article on Insider
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