For much of the last decade, Roy Williams was the hard-hitting enforcer of the Cowboys secondary, pulverizing any player who dared to bring the ball in his general vicinity. His reputation has since been tarnished by the poor pass coverage and general descent into mediocrity that led the Cowboys to release him, but that future wasn't clear in August 2006, when Williams signed a four-year, $25.2 million contract extension.
New contract in hand, Williams then went house shopping, closing in October of that year on a 5,700-square-foot Mediterranean-style villa on Colgate Avenue in University Park. Williams financed the purchase through Colonial Bank, signing a promissory note pledging to repay $2.1 million by (after several extensions) October 2009.
In the months leading up to the due date, two notable things happened. First, in March, Williams was released by the Cowboys. He ultimately spent two seasons in Cincinnati before hanging up his cleats and, after a cameo on the cast of Storage Wars Texas, joining the University of Oklahoma's radio broadcast team. Then, in August, Colonial Bank was pulled down by bad mortgages and taken over by federal regulators.
None of that erased Williams' debt and, according to a lawsuit filed Friday in Dallas County District Court, he defaulted. Colonial Bank, by this point in the hands of federal regulators, agreed to sell the property, but the housing market was still in the tank and it went for $372,417.89 less than Williams owed.
Friday's suit was filed by BB&T, the bank that took control of Colonial's assets from the FDIC and is apparently still sorting out the failed bank's books. It claims Williams still owes the unpaid balance plus interest, which brings the grand total to $587,295.16.
We're not sure what Williams is making doing OU radio, but that's nearly twice what Williams paid for his current home in Edmund, Oklahoma, according to Zillow. Regardless, it'd be nice to still have that $25.2 million contract.
