David J. Stern is a controversial foreclosure attorney. His foreclosure-processing business has generated hundreds of millions of dollars in revenue preparing documents for the cases that his law firm brings on behalf of lenders seeking to reclaim homes from borrowers who can’t pay their mortgages. In 2009, his eponymous firm handled more than 70,000 foreclosure proceedings, on behalf of major lenders like Bank of America, JP Morgan, Fannie Mae, and Freddie Mac. However, the filings came under scrutiny, as banks suspend foreclosures and evictions amid allegations that some home seizures were based on fraudulent documents.
Stern owns this $15 million, 16,482 sq ft home. He also purchased the house next-door to his for $8 million and tore it down to build a tennis court. Additionally, he owns a $20 million, 130-foot jet-powered yacht called "Misunderstood."
Category: Homes - Celebrity - Business