In a foreclosure claim filed on Feb. 15 by U.S. Bank National Association, the lender said that Ace Frehley, whose first name is Paul, owes more than $700,000 in payments for his $735,000 mortgage. The financial institution said in the claim that no payment has been made on Frehley’s loan since 2011.
The two-story, three-bedroom house is located in Yorktown. According to the Yorktown tax receiver’s office, the property also has a 2011 lien of $5,131.61 for town and county taxes, plus $13,425.94 for unpaid 2012 county, school and town taxes.
The home was originally purchased by Jendell Productions, but Frehley eventually claimed title for the property.
The default foreclosure process in New York is the longest in the country. According to RealtyTrac, the average time to foreclose a property in the Empire State is 1,089 days.
If no payments are made on the mortgage, the bank or county will sell the home at auction once the foreclosure process is completed.
National Mortgage News could not obtain a comment from Frehley’s lawyer by deadline.
Frehley was the lead guitarist of the band and took on the persona of the “Spaceman” or “Space Ace.” He played with the group from its inception in 1973 until he left to embark on a solo career in 1982. In the mid-1990s, Frehley rejoined the group for a reunion tour and his second tenure lasted from 1996 until 2002.