Who wants to loan Bill Cosby 30 large? And by large we mean $30 million dollars. A source told Page Six that he’s looking to borrow big to help pay legal fees.
Page Six posted a story on Wednesday reporting that Cosby is in some dire financial straits due to the onslaught of legal fees that he’s had to deal with in the past few years. That shortage of cash has apparently led the disgraced comedian to seeking to take out a $30 million hard money loan against his Upper East Side townhouse, a type of high-risk loan usually taken by someone experiencing money problems and which is usually expected to be paid in short order. Some have speculated that money may have been a factor in the departure of certain members of Cosby’s legal team as well, so Cosby being hard-up for cash looks like a real possibility.
Apparently, Cosby is having a hard time finding a willing lender, however, as they’re unsure of the value of a house owned by (allegedly) one of the most high-profile sexual predators in recent memory.
“But the lenders aren’t keen to give Cosby the money because they don’t think he has enough equity,” the source told Page Six. “Also, the lenders believe if they foreclose on the house, that they may not sell it. Provenance and the history of a house is very important, and buyers would certainly be put off by the thought of what could have taken place in the house over the years, and that they’ll be sleeping in Cosby’s bedroom.”
Now, Cosby has a new high-profile attorney in Tom Mesereau, who famously got Michael Jackson acquitted of molestation charges, to handle his retrial, which was pushed from November to March of 2018. In the meantime, Cosby will continue to bleed money to cover his exorbitant legal fees until we next see him in the headlines for trying to sell his plasma in a Philadelphia alley somewhere.