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Tennis star served repayment demand by non-conforming lender

by Staff Reporter7 minute read
The Adviser

Mark “The Scud” Philippoussis is being sued for failing to repay his mortgage highlighting that even the rich and famous aren’t immune from overextending themselves.

Mr Philippousis told the Sun Herald he faced a $1.3 million legal battle with a non-conforming lender after failing to keep up on his mortgage repayments.

According to the tennis star, injury has kept him out of the game since 2006 and he is now three months behind on monthly repayments totalling more than $10,000.

Mr Philippoussis conceded that he had been naive in taking out his home loan and didn’t realise what he was getting himself into.

"Money came in left, right and centre; you just thought that's how it was for everyone and that's how it will always be," he said.

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