Elin Nordegren Divorce Update: Tiger Woods $54 Million Mortgage Dilemma

Elin Nordegren's divorce update from Tiger Woods indicates that Woods took out a mortgage of a whopping $54 million on the exclusive Windermere home that he shared with Nordegren. What does this mean?

Well it means that Tiger messed up, and it's going to hit him where it hurts the most. Tiger spent the last 5 years or so of his life building up this home, and now it appears as if he is using it to pay his divorce settlement. Taking out a mortgage isn't something that is normal for Woods, who paid over $40 million for the land the house is sitting on - in cash.

The Miami Herald reports that the entity that Tiger Woods is going to make mortgage payments to is a Virginia company registered to the law firm that represents Elin Nordegren in the divorce.

No comment has been made by Woods or Nordegren.

Although the divorce was finalized last week, the rumors surrounding the couple continues on. Recent rumors say that Tiger Woods has a bachelor pad in swanky New York City.

The New York Post debunks those rumors, stating: "It's an '80s conversion, run-down, with leaky ceilings." If it really was Tiger who was spotted moving boxes in from a BMW, brokers say he might have been helping a girlfriend. "It would have to be a mistress he doesn't care about." Another broker said, "If he does live there, it means his wife took every penny he has and he's at the end of his rope."

As for Elin Nordegren - the reports issued about her are much more positive than those of her ex-husband. Although she does have a few adversaries that point to her as a "gold digger", for the most part people are on her side.

She granted an exclusive interview to People magazine - it's the ONE interview she's giving in the post-Tiger Woods divorce. She is now enrolled in a program to become a psychologist, and hopefully help children of divorce.

That's a noble cause - and it will be one that gets her a lot of bonus points in the media.

There's no official word on how much Elin Nordegren ultimately received in the divorce, how much child support she will receive, or anything else to that matter.

Tiger Woods likes his "Privacy" and I am not just talking about his yacht. I know that the bachelor pad rumors floating around were kind of believable, but on the other hand - why would Tiger move to New York if he wants Privacy? It's hardly a place for a golfer, either. In California or Florida he can golf all year round. In New York City, it gets kind of cold for that in the winter.

Source:

Mortgage Document

The Miami Herald

The New York Post