YouTubers Austin and Catherine McBroom Woodland Hills home was recently foreclosed upon by their lender, 5 Arch Funding Corporation, for failing to make payments on their $8.7 million mortgage.
The celebrity influencers were served with a notice of default in May 2021, and the home was sold on October 19 at a foreclosure auction.
The McBrooms falsely denied rumors on social media that they could be evicted from their house. “Ain’t nobody getting evicted, ain’t nobody moving,” Austin stated on Instagram in July.
The couple had used the home to showcase their lavish lifestyle on their ACE Family YouTube channel with over 19 million subscribers but have been embattled with lawsuits and rumors that they are in dire financial straits due to bad business decisions.
Austin and Catherine McBroom purchased the 12,000-square-foot home one year after it was built in 2019 for $10.1 million in 2019.
They remain in the foreclosed property with their three children until their lender files an eviction lawsuit, which is the next step in the legal process to have them leave the home.
The couple also has many other legal problems and is involved in several lawsuits. Austin McBroom was sued for $100 million by LiveXLive for allegedly failing to meet contract obligation related to a social media star boxing event, “Social Gloves: Battle of the Platforms.”
Investors were allegedly promised they would make $200 to $500 million in profit as a return on their investment, but instead, it was a failure, and they incurred substantial losses.
Catherine McBroom is being sued by TBL Cosmetics, a “premium skincare line” with ethically sourced ingredients. According to the lawsuit papers filed in court, Catherine was supposed to promote the company on social media, but TBL said she “conspired with her family, friends, and other under-utilized members or idle of her entourage to stage a takeover of 1212 Gateway’s management,” or effectively enact a “coup” against TBL.
Moe Bedard is the founder and lead mortgage analyst for LoanSafe.org. Since 2007, LoanSafe has helped over 2 million consumers with solutions to their mortgage problems and has been featured in the New York Times, LA Times, Fox Business, and many other media publications.