Hulk Hogan threatened with having wages withheld in pool lawsuit & took out $2M mortgage on Florida mansion before death

The Sun

5 days ago

HULK Hogan took out a massive $2 million mortgage on his Florida mansion, and was threatened with having his wages garnished in a lawsuit in the few years before his death at 71.
The U.S. Sun can exclusively reveal that Hogan's finances seemed to be in precarious shape in his final years.
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The iconic WWE star had taken out the massive mortgage in November of 2023 after purchasing the home for $3.3 million in 2012.
Hogan's new wife, Sky Daily, whom he had only married the month before, was named on the $2 million 30-year home loan; however, she is listed as a non-borrowing spouse.
Hogan promised to pay back the bank, JP Morgan Chase, in full by the year 2053.
Florida estate expert and paralegal, June Frederiksen, at the Schofner Law Firm, explained that "this mortgage is under a company which is under his trust."
June explained that it seemed the wrestling star was working to protect his assets from possible creditor claims, such as with this outstanding mortgage, in probate court.
WAGE GARNISHMENT THREAT
Just around the same time in 2023, Hogan, whose real name is Terry Gene Bollea, hired a pool company that took out a permit to install a pool and jacuzzi on the WWE star's Florida property in January.
According to county records, the upgrade to the property would add an estimated $77,000 to his total home value.
In satellite images of Hogan's Florida estate, which were taken in February of 2023, a work truck can be seen parked outside the part of his property where the pool was set to be installed.
By March 31 of 2023, Hogan was dragged into a lawsuit against the pool company by another homeowner, who had alleged the company owed them money for work the pool company didn't complete.
As the case rolled out, Hogan was dragged into the court battle because the pool company claimed they were unable to pay the homeowner their money back, as the WWE star sill had an outstanding debt with them that they needed to collect on first.
A writ of garnishment was filed against Hogan, and served to him on April 4 of 2023.
A notice attached to the writ of garnishment explained, "The writ of Garnishment delivered to you with this notice means that wages, money and other property belonging to you have been garnished to pay a court judgment against you."
Hogan, through his attorneys, shot back that he owed the pool company nothing at that time.
LENGTHY LITIGATION WITH EX LINDA HOGAN
The U.S. Sun can also exclusively reveal that Hogan was still dealing with a prolonged and pricey legal battle with his first wife, Linda Hogan, which had been ongoing since the couple filed for divorce in 2007.
The last filing in that legal case was 2024, and the pair had continued to fight over Hogan's brand.
In the most recent publicly available filing in that case, from February of 2023, Linda argued that she helped build Hogan's brand and Hulkamania and she should therefore receive a portion of the proceeds from when he makes appearances as Hulk Hogan.
In April of 2023, a Supplemental Final Judgement was made in that case, though it is unclear if the judgment favored Hogan or Linda, as the filing was made under seal.
As The U.S. Sun previously revealed, Hogan's new wife, Sky, is set to inherit at least 30% of his fortune under Florida law.
HULK HOGAN'S ESTATE AND LEGACY
Hogan and his third wife, Sky Daily, 49, had been married for just two years, but under Florida law, she is entitled to 30% of his estate, regardless of whether he updated his will or trust before his sudden death at 71.
Hogan's estate includes investments, cash accounts, his $11.5 million Clearwater, Florida mansion, and multiple businesses.
He had also set up a revocable trust and a personal trust prior to his passing, as The U.S. Sun has learned.
Florida estate expert, June Frederiksen, explained that Hogan likely had "very in-depth estate planning."
"You set up a trust to protect your assets, so you run everything through the trust," Frederiksen said.
The purpose of the trust is to prevent the estate from going to court while determining how assets should be distributed or if creditors can make claims.
Even if Sky was not included in Hogan's trusts or if he had not updated them after their marriage, Florida law ensures she would still inherit 30% of his estate through a spousal elective share.
"He married Sky two years ago, so he probably updated the trust so she would get a spousal elective share," Frederiksen explained. "Even if Sky was left out of his estate and he didn't update his trust since they married, she would still get a spousal elective share, which she is entitled to 30% in Florida."
FAMILY STRAINS
Hogan had a strained relationship with his daughter, Brooke Hogan, and the two have been estranged for years.
The WWE legend never met his twin grandchildren, Oliver and Molly Gene, who were born in January of this year.
If Brooke is excluded from Hogan's will, Frederiksen explained that she could contest it, which would result in a legal battle in probate court.
INSIDE HULK'S FORTUNE
Hogan's estimated net worth is $25 million, according to Celebrity Networth.
As revealed by The U.S. Sun, his assets include his sprawling Clearwater mansion, valued at $11.5 million, and several businesses in Florida.
These include Hogan's Beach Shop, which opened in 2013 and remains successful, as well as Hogan's Hangout, a restaurant in Clearwater Beach that is still operating.
The wrestling icon also launched Real American Beer last year and appeared in various films beyond his legendary WWE career.
HULK HOGAN'S FINAL DAYS
Hogan had been dealing with significant health issues in the months leading up to his death.
He underwent neck surgery in May, which required a return to the hospital in June due to complications.
By mid-year, reports emerged claiming Hogan was unable to feel his legs or walk without a cane.
Hulk Hogan tributes
Tributes have poured in for Hulk Hogan following his death at 71 years old.
"When I nearly lost my dad 8 years ago, one of the few people who was there for all of it was Hulk Hogan. My heart breaks for Nick and Brooke. Rest in peace, brother." - Charlotte Flair
"Saddened To Hear About The Passing of Hulk Hogan…I Guess God Needed An Incredible Angel. R.I.P. My Friend." - Sergeant Slaughter
"He Was One Of The First To Visit Me When I Was In The Hospital With A 2% Chance Of Living, And He Prayed By My Bedside. Hulk Also Lent Me Money When Reid Was Sick. Hulkster, No One Will Ever Compare To You! Rest In Peace My Friend!" - Ric Flair
"WWE is saddened to learn WWE Hall of Famer Hulk Hogan has passed away. One of pop culture's most recognizable figures, Hogan helped WWE achieve global recognition in the 1980s. WWE extends its condolences to Hogan's family, friends, and fans." - WWE
"R.I.P to a legend. HULK HOGAN." - Donald Trump Jr.
"Hulk Hogan was a great American icon. One of the first people I ever truly admired as a kid. The last time I saw him we promised we'd get beers together next time we saw each other. The next time will have to be on the other side, my friend! Rest in peace." - Vice President JD Vance
Some rumours suggested he was on his deathbed, though these claims were denied or downplayed by those close to him.
On Thursday morning, Hogan suffered cardiac arrest at his $11.5 million Clearwater mansion.
Paramedics arrived following a frantic 911 call and spent 30 minutes attempting to revive him.
He was transported to the hospital, where he was pronounced dead.
HULK'S FAMILY
Hogan was married twice before meeting Sky.
His first marriage was to Linda Claridge, with whom he shared two children: Brooke, 35, and Nick, 32.
The family starred in the reality TV series Hogan Knows Best, which aired from 2005 to 2007.
Hogan and Claridge were married for 26 years before divorcing in 2009.
The following year, he married makeup artist Jennifer McDaniel, though their marriage ended in divorce in 2021.
Hogan later married Sky in a private ceremony in Clearwater, Florida.
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