Hearns in Money Trouble?
Published: Mar 20 2010 by: Rich Thomas
Legend Tommy Hearns Owes Hundreds of Thousands of Dollars in Taxes
All-time great Tommy "The Hitman" Hearns is in danger of losing his home, according to The Detroit News. In one of the oldest songs in boxing, the hard-punching legend owes $448,191 in back taxes to the IRS and to the state of Michigan, resulting in substantial liens on his property. However, it seems Hearns has also been caught up in the fallout from the real estate crisis.
He also owes $512,965 on a defaulted mortgage, but Zillow.com estimates his 5-bedroom, 4-bathroom house as being worth only $356,000. Combined, the defaulted mortgage and back taxes add up to almost $1 million in debts. A foreclosure sale on Tommy Hearns's home is scheduled for March 23rd.
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