Latest YouTube sensation: Foreclosure on influencers’ Woodland Hills mansion
Austin and Catherine McBroom defaulted on $8.7M in debt over the summer
A lender has foreclosed on the massive Woodland Hills home of YouTubers Austin and Catherine McBroom.
Rumors have swirled for months that the couple, who broke through as celebrity influencers by showcasing a lavish lifestyle on their ACE Family YouTube channel, are in dire financial straits, according to Business Insider.
A October 19 foreclosure auction for the property ended with no bids, returning it to lender 5 Arch Funding Corporation.
The McBrooms currently have around 19 million subscribers to the ACE Family YouTube channel, where they regularly feature their home in videos.
They bought the 12,000-square-foot home for $10.1 million in 2019, a year after it was built. The property was designed as two separate homes and later combined.
The McBrooms were served with a notice of default issued by a debt collection company in May, giving them 90 days to pay back $8.7 million owed to their lender.
In August, a notice of trustee’s sale was sent, notifying them that the property would be auctioned with a starting price of $9.3 million. A buyer would have had to pay for the home with cash.
The McBrooms and their three children remain in residence at the property. 5 Arch Funding Corporation must file and win an eviction lawsuit to legally compel them to leave the property.
The McBrooms are involved in a handful of lawsuits as well. Austin McBroom was sued by media company LiveXLive for $100 million for allegedly failing to fulfill contracts related to McBroom’s social media star boxing event “Social Gloves: Battle of the Platforms.”
A company of his, Ace Hat Collection, has also petitioned two construction firms to release mechanic’s liens, which are usually filed over unpaid construction work. One petition was denied.
Catherine McBroom, meanwhile, has been sued by TBL Cosmetics in regard to business dealings over McBroom’s cosmetics company 1212 Gateway.
[Business Insider] — Dennis Lynch