The YouTube powerhouse couple, Austin McBroom and Catherine McBroom, just lost their $10 Million home to a financial corporation. Famously known as The Ace Family, the couple, together with their three kids, lost their home and might eventually be forced to leave their house. The famous LA mega-mansion was often seen in their videos uploaded on their YouTube Channel with more than 19 million subscribers. The Ace Family just moved into the fairytale-like mansion last 2019, where they enjoy a lavish lifestyle.
Earlier this month, rumors surfaced that the house the Ace Family is living in is being up for foreclosure. It does seem far-fetched since their channel with 19 Million subscribers is estimated to be worth over $22 Million. The couple also regularly flaunts their wealth on their uploaded videos on YouTube. The couple Austin McBroom and Catherine McBroom reportedly refused to pay off debts and have piled up to over $9 Million. The couple is the CEO and secretary of the company Ace Hat Collection. Public records have revealed that the couple has signed a deed of trust under Ace Hat Collection for their Los Angeles property in July 2019.
Following the agreement, the property was put at risk of foreclosure under the stage which was known as the 'preforeclosure'. Failure to pay off their debt that racked up to $9 Million, the house was returned to a beneficiary on October 19, 2019. The beneficiary is an entity that was legally designated to receive the benefits from the financial products if the property fails to receive any bids from the public; in this case, the beneficiary is a financial lender, 5 Arch Funding Corp.
As of the moment, the Ace Family does not own the mansion legally, but under California's nonjudicial foreclosure law, the current owners of the mansion, 5 Arch Funding Corporation, still need to file and win an eviction case against the Ace Family in order to make them leave legally. They would not be evicted if they will voluntarily leave the mansion or just paid their $9 Million debt. Although the Ace Family no longer own the house they are living in, they might be able to live there for much longer still because the legal eviction process might take longer to happen.
As of this writing, the family refused to comment on the issue. Their lawyer representative refused to comment on the foreclosure issue, and other representatives are also mum on the issue. The couple is yet to issue their statement regarding their current situation.
Sources: Insider, DataStore, SK Pop
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