The Miami condo owned by former Miami Heat player Glen Rice and his now ex-spouse Cristy Rice may soon be foreclosed upon, according to November 6 reports.

New sources stated that M&T Bank has filed a foreclosure suit against Glen and Cristy claiming that the one-time couple has defaulted on their mortgages on the condo located in the Neo Vertika building. The Rices bought the property in 2006 after the basketball star ended his career in retirement from the Los Angeles Clippers. According to court documents, the Rices have not made a payment on the condo since February and have only paid $317.000 of the $500,000 loan off.

While Glen has not made a counter move yet, his ex-wife has hired a lawyer and is contesting the foreclosure claim. She has accused the bank of failure to follow proper foreclosure procedures.

The lawyers at the Hong Law, PLC in Cedar Rapids understand that it homeowners who face the threat of foreclosure are under a great deal of stress. If you are dealing with financial burdens such as an unmanageable mortgage, our legal team may be able to help you build a strong case to defend your home. Call us at (319) 294-5853 to discuss your situation with our foreclosure defense attorneys today.