With 14 children, Deon and Karen Derrico are no stranger to financial woes despite a hit
The Derricos are known for a lot of things. Parents Deon and Karen Derrico, and their 14 children reportedly go through 15 boxes of frozen waffles, along with 20 rolls of toilet paper, and some 18 loads of laundry each week. And that gives a clear idea of why they caught the attention of TLC and managed to score a second season of their family show, ‘Doubling Down with the Derricos’. But looks like misfortune has hit the family as news of a foreclosure on the north Las Vegas home they all share is making headlines.
The foreclosure reportedly comes after a mediation attempt failed. The Derricos’ four-bedroom, three-bathroom home in Las Vegas has been foreclosed and is currently scheduled for an auction sale, according to The Sun. Fans and viewers will know about this home full well as this is where all the action unfolds on the family’s reality show. But given the cost of raising 14 children under one roof and the sale on the cards, it makes one curious as to how the family affords it all. The answer to that is obviously Deon Derrico’s whopping net worth.
Celebpie reports that 50-year-old Deon’s net worth is an estimated $6 million. His wife Karen, 41, also adds to the family’s royalties with a significant six-figure net worth that is estimated to be $500,000. The family, however, is no stranger to financial issues and this foreclosure is not the first time they are going through money problems. According to court documents obtained by the publication, a petition for foreclosure mediation assistance was reportedly filed by Deon in March 2020 after the 2015-bought home went into default in February last year.
Official documents reveal that the filing was to provide some kind of a “remedy of last resort for the homeowner to avoid foreclosure and loss of his/her home” through a mediation process involving the owner and lender. Even though a mediator was assigned they weren’t able to agree upon a loan modification, thereby ending all negotiations. This prompted Deon to file a complaint in February this year against US Bank National Association where he claimed that the foreclosure sale to be conducted on or around March 12, 2021, had an ‘improper’ date.
Deon then reportedly sought a restraining order to prohibit the foreclosure sale, but the court denied the motion. The auction for their home is currently scheduled for September 1, with opening bids starting at $430,254. The publication also reported that both Deon and Karen have filed for bankruptcy five times in the past. The Derrico patriarch has been previously charged with 13 counts of fraud, which he pleaded not guilty to and was ultimately found not guilty on most charges, with the court ordering a ‘mistrial’ on the remaining counts after the jury was ‘deadlocked’.
Karen too faced financial issues in the past before she became a stay-at-home mom to her 14 kids. Karen used to work at a Las Vegas daycare in the past and according to TV Guide Time, during a period of immense financial woes, she had applied and received the Supplemental Nutrition Assistance Program (SNAP) through the state of Nevada.