Football star O.J. Simpson is well-known not only because of his NFL career, but also because of problems that he has had in his life. These problems include the famous criminal trial in which he was acquitted in the murder of his ex-wife, Nicole Brown Simpson and her boyfriend Ron Goldman, in 1994.

Simpson's name was not completely cleared however, as he was held financially responsible in the wrongful death lawsuit brought by Goldman's family. That judgment was in the amount of $33 million. This judgment against Simpson is one of many factors that led to his bankruptcy and most recently a foreclosure filing.

As a result of dwindling market values, along with a substantial mortgage left on the property, it is no wonder that foreclosure was a risk for the former football star. This is especially true because Simpson is currently behind bars on charges of kidnapping and armed robbery. He also has very little means, besides his fixed income consisting of retirement and pension amounts, to make the monthly mortgage payments on his home. This is why Simpson sought the protections of bankruptcy and hoped to get a fresh start.

Bankruptcy presented new challenges for Simpson however because the Goldman family claimed income that Simpson earned from a book about the 1994 murders should be turned over in payment of the civil judgment. This left only a small amount of Simpson's assets available to pay down the mortgage on his home that he purchased in 2000.

Simpson apparently stopped making mortgage payments in March of 2010 according to his lender, JP Morgan Chase, which has filed papers to foreclose on Simpson's home. According to the foreclosure filing, Simpson owes more than $700,000 on the home, which includes interest, fees and penalties, and is far above what the home is worth.

In the meantime, Simpson's lawyers have appealed not only the civil judgment, but also the foreclosure action.

Source: Forbes, "JP Morgan Chase Trying to Serve Foreclosure Papers on O.J. Simpson - at His House!," Jose Lambiet, Jan. 16, 2012