Georgina Chapman, known for her work in fashion design and as a co-founder of Marchesa, is facing a significant financial setback with her New York City apartment under threat of foreclosure, according to exclusive legal documents obtained by PEOPLE.
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The 49-year-old English designer received a foreclosure notice on Wednesday, Oct. 15, highlighting the seriousness of the situation with the warning, “You are in danger of losing your home,” as per the legal documents.
The issue stems from a $2.5 million mortgage that Chapman took out on the property in January 2022 from CrossCountry Mortgage, LLC. The loan required her to make monthly payments of $9,114.58 up to February 2052. Notably, her brother Edward Chapman, the CEO of Marchesa, was involved in securing the loan as well.
Unfortunately, Chapman defaulted on the mortgage in November 2024, failing to meet various payment obligations, including principal, interest, taxes, assessments, and insurance premiums, leading to the current predicament. The outstanding debt includes the initial loan amount, accrued interest, and late charges, putting her at risk of losing the property.
In addition to the foreclosure threat, Chapman faced a lawsuit from her apartment building’s board in February of the same year. The lawsuit was triggered by her falling behind on dues totalling $7,898.67.
PEOPLE reached out to Chapman’s legal team for a statement but did not receive an immediate response. This financial distress comes following Chapman’s high-profile divorce from Harvey Weinstein in 2021.
Weinstein, currently serving a prison sentence for sex crimes, was married to Chapman for nearly a decade before their split. Chapman was granted primary custody of their two children and has since been in a relationship with actor Adrien Brody.
The news of Chapman’s apartment facing foreclosure serves as a stark reminder of the financial challenges individuals, even those in the spotlight, may encounter. Despite her past success in the fashion industry, Chapman’s current situation underscores the importance of prudent financial management and staying ahead of mortgage obligations to avoid such dire consequences.
As Chapman navigates this difficult period, her story sheds light on the complexities of financial responsibilities and the potential repercussions of defaulting on loans. It serves as a cautionary tale for individuals at all income levels to stay vigilant in managing their financial commitments to secure their homes and assets.