Orange County Chopper's Foreclosure:

By Missy Yates

January 27, 2011 – (Motor Sports Newswire) – Orange County Choppers, the business featured on the reality series American Chopper, has been embroiled in some major drama as of late, and now the company is facing foreclosure.

Paul Sr. and Paul Jr. have been fighting over money, specifically Paul Jr’s stake in OCC. Now, OCC’s lenders are filing a foreclosure, that has nothing to do with the family tensions.

Choppers has allegedly missed several mortgage payments, one for $96,400 and another for $14,000.

Choppers reportedly didn’t make the payments, not due to lack of money, but because they were protesting the terms of the loan.

They claim the building is worth millions less than it had been in 2007 and want their payments lowered.

No official statements by either party have been made as of Tuesday morning.

Orange County Choppers or OCC is a custom motorcycle manufacturer based in Orange County, New York, founded by Paul Teutul, Sr. and Paul Teutul, Jr. in 1999 and is featured on American Chopper on TLC.

SOURCE: Long Island Press

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3 Comments

  1. Yeah, my house is worth less too. Can I get my loan principle reduced? I’m sure the bank will get right on that for me. What a douche.

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