News In Brief

‘Sleeper House’ on the auction block?

Christina Huh Jul 12, 2010

(Photo Courtesy of Elizabeth Read: http://www.flickr.com/photos/runder/7148409/)

The futuristic house featured in Woody Allen’s 1973 movie “Sleeper” can potentially be yours on Oct. 6. The current owner, Denver businessman Michael Dunahay, purchased the Genesee, Colo. property in 2006 for $3.12 million.

But since last year, Dunahay had trouble paying the mortgage. The lender, Bayview Loan Servicing LLC, filed a second foreclosure intent last month saying that Dunahay still owes $2.77 million on the house.

But Dunahay said he will save his house with this convincing reply. From the Denver Post:

“When the time comes, I will make up all the payments,” Dunahay said Friday. “That may be next week or next month. The house will not be foreclosed on.”

Somewhat ironically, Dunahay carried on the tradition from the former owner of lending the home for charity events. Perhaps Dunahay should throw himself a personal bailout party. Marketplace’s Paddy Hirsch went to a benefit concert for a friend who was trying to stave off foreclosure and shared the details of the Hollywood affair.

Or maybe he should walk away. According to this interview with Marketplace’s Nancy Marshall Genzer, the rich are more likely to walk away from properties they can no longer afford.

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