02/26/2013 04:45 pm ET Updated Feb 26, 2013

Ace Frehley Home In Foreclosure: Former KISS Guitarist May Lose House After Failing To Pay Mortgage (REPORT)

Former KISS guitarist Paul "Ace" Frehley might not be able to rock and roll all night because his home is reportedly in foreclosure.

The Journal News reports that Frehley has not paid the mortgage on his New York home in almost two years. In a Feb. 15 foreclosure filing, the U.S. Bank National Association claimed that the KISS rocker stopped paying the $735,000 mortgage on his Ossining, N.Y., home on March 1, 2011. He has an outstanding principal of $703,581.48.

Along with the mortgage payments, Frehley also allegedly has almost two years of unpaid taxes, the Journal News reports via the Yorktown tax receiver's office. He reportedly owes a 2011 lien of $5,131.61 for town and county taxes along with $13,425.94 for 2012 county, school and town taxes. He allegedly hasn't made a payment since Dec. 30, 2011.

Frehley, who adopted the stage persona "Spaceman" or "Space Ace," joined KISS in 1973 and left in 1982. The Bronx, N.Y., native later reunited with the band for a Farewell Tour.

He previously explained why he left KISS during an interview with Stop Smiling.

"[I]t’s just the way things started getting more about merchandising and became more about marketing than the music," he said. "I got involved in rock and roll because I loved it ... And then all of a sudden when you start reading contracts and fine print and you realize that people are deceiving you about this and that and your lawyer tells you it’s a lot more money than you thought, and it starts not being fun anymore."

KISS frontman Gene Simmons estimated the KISS brand to be worth between $1 and $5 billion in 2011, according to CNN.

Frehley's latest album, "Anomaly," dropped in 2009 on Bronx Born Records.



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