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from: The only true, Nexstar media cable
Posted: Oct 26, 2021 / 13:08 CDT
Updated: 10/26/2021 / 12:50 p.m. CDT
Austin McBroom (L) and Catherine Paiz attend Thirst Project’s 10th Annual Thirst Gala at the Beverly Hilton Hotel in Beverly Hills, California on September 28, 2019. (Photo by David Livingston / Getty Images)
LOS ANGELES (TheRealDeal) – A lender has foreclosed YouTubers Austin and Catherine McBroom’s massive Woodland Hills home.
According to Business Insider, rumors have been circulating for months that the couple, who rose to prominence as prominent influencers by introducing a lavish lifestyle to the ACE family on their YouTube channel, are in dire financial straits.
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On October 19, the property’s foreclosure auction ended and was returned to lender 5 Arch Funding Corporation.
The McBrooms currently have around 19 million subscribers on the ACE family’s YouTube channel, on which they regularly present their home in videos.
They bought the 12,000-square-foot home for $ 10.1 million in 2019, a year after it was built. The property was designed as two separate houses and later merged.
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The McBrooms received a reminder in May from a debt collection company giving them 90 days to repay $ 8.7 million to their lender.
A sales notice was sent to the trustee in August telling them that the property would be auctioned with a starting price of $ 9.3 million. A buyer would have had to pay for the house in cash.
The McBrooms and their three children remain on the property. 5 Arch Funding Corporation must file and win an eviction lawsuit to legally compel them to leave the property.
The McBrooms are also involved in a handful of lawsuits. Austin McBroom was sued for $ 100 million by media company LiveXLive for allegedly failing to fulfill contracts related to McBroom’s social media starbox event, Social Gloves: Battle of the Platforms.
One of his companies, Ace Hat Collection, has also petitioned two construction companies to release mechanic liens that are usually filed for unpaid construction work. One petition was denied.
Catherine McBroom, meanwhile, has been sued by TBL Cosmetics regarding business through McBroom’s cosmetics company 1212 Gateway.
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