“American Chopper” star Paul Teutul Sr. may be in the market for a new garage to store his bikes, because his upstate New York compound is currently in foreclosure after the legendary bike builder skipped out on paying the mortgage.
According to documents obtained by The Blast, Tuetul’s 3-bed 3-bath 3400 sqft in Montgomery, NY is in foreclosure after Teutul failed to pay the principal, interest, taxes, insurance premiums and other charges.
The documents state that Teutul originally took out a $1.5 million loan for the property in 2005, and had been required to make monthly payments of $8,125.
These days, Teutul is obsessed with a different type of horsepower — mainly cows, donkeys, horses, pot bellied pigs and alpacas — we’re told all the animals he cares for qualify for a special type of tax relief which caused the delay in payments and sparked the foreclosure process.
A rep for the Orange County Choppers co-founder tells The Blast “the foreclosure filing, which was not executed, was an action taken to give options for an ongoing tax assessment request. Mr. Teutul cares for numerous animals on his property and under the laws of NY State is eligible for an agricultural assessment to provide property tax relief to the property owner.”
The rep was also adamant that the move is “pro-active, not reactive situation which is a positive thing for Mr Teutul.”
However, Teutul may not be interested in keeping the property because he put it up for sale late last year. It seems he’s anxious to sell, having already slashed the price by $400,000 to an asking price of $2,499,000.
Teutul Sr. and his crew are also preparing for a return to TV after 5-years off the air … and relocating a farm full of animals and motorcycles (along with their family’s trademark fighting) sounds like a pretty great concept for a show.