Search This Blog

Thursday, September 27, 2012

Foreclosures aren't only for the Poor

With today's posting, our goal is to give readers a smile...

Question:  Have you had your home foreclosed upon within the last 12 months?  Are you in a situation where its close to occurring?  Certainly nothing "Funny" or entertaining about the suffering of everyday people...

But here's what is very funny:  when celebs get foreclosed upon.

Here's a list of some celebrities from the world of entertainment and sports who've had their homes either foreclosed upon within the last 12 months or are imminently close to losing their property.

Celebs certainly feel no shame in it, so relax and enjoy:

Terrell Owens, Former NFL star
 Properties: 2 Azure Condos, Dallas, TX; 2 Commerce Street Condos, Dallas, TX; 1 Trump Tower Condo, Sunny Isles, FL

The football receiver has faced foreclosure on a handful of properties since last year. Two condos he owned in Dallas,Texas were sold in short sales earlier this year after lenders started the foreclosure process, and two more repossessed by lenders. His Trump International condo sold via short sale in July, following news that he had failed to make both mortgage and maintenance payments on the Fla. apartment.

Burt Reynolds, Actor
Property: Southeast Federal Highway, Hobe Sound, FL

The "Smokey and the Bandit" star has allegedly not paid his his $1.2 million mortgage in two years. It is listed as a short sale for $5 million -- a third of his purchase price. The waterfront estate boasts 12,500 square feet, a helipad and yacht dockage.         

Evander Holyfield, Former Heavyweight Boxing Champ
Holyfield owed more than $14 million on his Atlanta-area mansion. In March the massive 54,000-square foot home was "purchased" by lender J.P. Morgan Chase at a foreclosure auction for early 50% less. The lender allowed Holyfield to occupy the 109-room estate for several months following the foreclosure sale. He reportedly moved out in July.      

Rihanna, Famous classless slut.. um.. singer
Property: Janice Place, Beverly Hills, CA

In 2009 the pop star bought a $6.9 million 8,520-square foot contemporary and then flooding caused "extensive damage," according to its subsequent listing for $4.5 million, as is. The singer defaulted on the home, selling it as a short sale earlier this year to a buyer who ultimately paid more than the asking price.      

Chris Tucker, Famous comedian, starred in 'Rush Hour' w/ Jackie Chan
Property: Bella Collina manison, Lake County, Fla.

In October, Sun Trust Bank filed foreclosure papers alleging that comedian Chris Tucker owed $4.4 million on the 10,000-square foot mansion he had purchased at the market high. It finally sold in a short sale earlier this year. The “Rush Hour” star also reportedly owes the IRS $11.5 million in back taxes.      

David Cassidy - Singer/Actor
Property: Las Olas Riverhouse penthouse, Fort Lauderdale, FL

Cassidy, who ascended to teen stardom in the 1970s TV show “The Partridge Family,” reportedly surrendered a swank rental property to the lender, rather than continue through the foreclosure process.

Nadya "Octomom" Suleman, Reality TV Personality
Property: Madonna Lane, La Habra, CA

The foreclosure process on the 2,445-square foot house of the reality TV star was finalized in June, with the bank repossessing the property in an auction that produced no bids. The first default notice was filed on the Orange County abode in late 2011. Suleman, who became a household name after giving birth to octuplets, filed for Chapter 7 bankruptcy in May.

JaMarcus Russell, Former NFL Player
Property: Skyline Boulevard, Oakland, CA

The former quarterback bought this 5,800-square foot house before he even signed his massive Oakland Raiders contract in 2007. Released two years later, Russell has struggled to find placement on another team. He defaulted on roughly $195,500 in mortgage payments last year and his home ultimately fetched 40% less than he paid for it in the fall.

O.J. Simpson, Former NFL Player
Property:  Miami, FL

The football star-turned-convicted felon, purchased this 4,200-square foot Kendall home after famously being acquitted for the slayings of his ex-wife and her friend. Now serving time for a 2007 armed robbery, Simpson has faced civil suits and subsequent financial woes, the foreclosure filing among the latest. The home is currently in pre-foreclosure.

Family of Kristin Cavallari, Reality TV Personality
In February the home owned by the parents of "The Hills" star was reclaimed by the bank in a public auction for roughly 50% less than it had been listed for in 2009. The 7,100-square-foot waterfront home touts dry and wet saunas, a yoga studio and Feng Shui certified design. The bank-owned property found a buyer in July.

R. Kelly, Singer-Producer
Property: Marcos Lane, Olympia Fields, IL

The R&B artist's custom built 22,000-square foot Chicago-area manse was slapped with a lis pendens last summer by lender J.P. Morgan Chase. The home came to market in the fall as a short sale listing, asking nearly 45% less than the mortgage note. The listing was pulled in April and the property's status is unknown. The 2011 filing marked the second time this home faced foreclosure, the first being in 2005.

Allen Iverson, Former NBA Player
Property: Buell Mansion subdivision, Cherry Hills, CO

The 11-time NBA All-Star reportedly stopped making payments on the $2.6 million mortgage for his lakefront estate right after it went into contract with a buyer willing to purchase in a traditional sale. Ultimately it sold for slightly less than its asking price. The home boasts six bedrooms, six bathrooms, a safe room, a home theater, and a wine cellar.