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WTSP anchor Reginald Roundtree faces 2nd foreclosure lawsuit

For the second time this year, creditors have filed a lawsuit to foreclose on property owned by WTSP-Ch. 10 anchor Reginald Roundtree, most recently involving an Oldsmar home with debt alleged to top $580,000.

The lawsuit says Roundtree and investment partner Lisa Schulz bought the home in February 2007 from David and Dana Carter, who now live in Hendersonville, N.C.

The suit says the anchor and his partner gave the Carters a promissory note valued at $585,000, but stopped making payments in December 2008, failed to purchase home insurance and failed to pay 2007 and 2008 property taxes.

Roundtree, 51, who has served as WTSP's top male anchor since 1998, said he hopes to sell the house.

A listing for the property at realtor.com shows an asking price of $649,900, but the anchor acknowledged he might have to accept less than currently owed in a "short sale" deal.

In February, Indymac Federal Bank also filed a foreclosure suit against Roundtree for a Dunedin home he bought for $678,000 in 2007.

The bank said then that Roundtree owed $542,000 plus interest; the anchor says now he is also still trying to sell that home.

Each lawsuit is an example of real estate investments gone bad and do not involve his primary residence in Palm Harbor, Roundtree said.

"Both of these houses were purchased when the housing market was much better. … We hoped to make some improvements and flip (resell) them," he said. "I basically invested in a ton of property that went south with the economy, like a lot of people. It's just the state of the economy now."

WTSP anchor Reginald Roundtree faces 2nd foreclosure lawsuit 12/02/09 [Last modified: Thursday, December 3, 2009 9:28am]
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