Has KISS guitarist Ace Frehley hit "Rock Bottom?" Because it turns out he's got more than "Nothin' To Lose", having reportedly failed to pay the mortgage on his Westchester home for the past two years. And now, his bank is filing for foreclosure—which means he could probably use some advice from The Elder about now.

The U.S. Bank National Association says the Artist Formerly Known as Space Ace owes $703,581.48, and that doesn't include interest and late fees. Frehley borrowed the money in 2006 when he purchased his 2,441-square-foot house in Yorktown, up in Northern Westchester—but according to the foreclosure filing he stopped paying the mortgage back in March 2011. The Bronx-born Frehley apparently also hasn't paid taxes on the property for the past two years.

While Frehley doesn't appear to live at the property, one of his production companies lists it as a business address, so they'll need a new place to "Rock and Roll All Nite," since his bank has asked the court to order a sale of the home. On the bright side, "Detroit Rock City"'s pretty affordable these days...okay, we'll stop.