Celebs in real estate and financial trouble

I don't care how rich you are. Losing 3.5 million dollars in 3 years has got to hurt!!

http://www.tmz.com/2010/01/25/nicolas-cage-home-las-vegas-foreclosed-money/

Nic Cage's Vegas Home Hits Rock Bottom

Nicolas Cage's foreclosed Las Vegas mansion has finally been sold -- for nearly $3.5 million less than the actor paid for it in 2006.

According to the broker, Cage purchased the 14,306 sq. ft. Las Vegas home for $8.5 million back in 2006 -- which was foreclosed on in November of '09.

The home was repo'd by the bank -- and now the broker, Kenneth Lowman says the home has been sold for $4.95 million.

FYI -- the home has 6 bedrooms, 7.5 bath, a 16-car subterranean garage, an elevator and theater room.

Cage -- who has described his financial situation as "catastrophic" -- claims he's the victim of a reckless financial manager. The manager counters it was cage who was a reckless spender.

The actor still owes roughly $13 mil to Uncle Sam in unpaid back taxes
 
Interesting story and a pretty good book

http://www.mediabistro.com/tvnewser/generalities/jim_moret_on_his_wakeup_call_my_attitude_toward_life_is_totally_different_147822.asp

Jim Moret On His 'Wake-Up Call': 'My Attitude Toward Life Is Totally Different'

"In television news, there are ups and downs," says former CNNer Jim Moret, now Inside Edition's chief correspondent and a frequent Larry King Live fill-in host.

Moret took out a subprime mortgage on his home to stay afloat ? which came back to haunt him a few years later, even after landing his Inside Edition job. Moret became depressed, and contemplated suicide. One day in 2008, his thoughts turned "dark" as he drove along the cliffs of Malibu. "And I thought, you know what, I'm worth more dead than alive," Moret tells TVNewser, referring to a life insurance policy. "Maybe I should go right over the cliff, it'll look like an accident."
 
And the band plays on..

http://www.cnn.com/2010/SHOWBIZ/TV/02/18/jon.kate.house.sold.ppl/index.html?hpt=C2

Jon and Kate sell starter home at a loss

The Gosselins have sold their starter home in Elizabethtown, Pennsylvania, for $258,000, according to the real-estate news site Zillow.com.

The transaction didn't come easily.

The five-bedroom house on Andrew Avenue went on the market in March 2009 for $325,000 before the asking price was slashed to $299,000 10 months later.

After a lien and the filing of the Gosselins' divorce papers during their messy split, the location for most of "Jon & Kate Plus Eight" finally sold -- for $22,000 less than the couple paid for it in 2006. The family moved into a much bigger home in Wernersville, Pennsylvania.
 
[quote author="winex"]http://www.tmz.com/2010/02/12/brian-austin-green-trouble-on-the-home-front/

Brian Austin Green $70k behind on his mortgage and trying to short sell his house. Oh well, at least he is still dating Megan Fox.[/quote]

That is more than a fair trade off
 
[quote author="morekaos"]
[quote author="winex"]http://www.tmz.com/2010/02/12/brian-austin-green-trouble-on-the-home-front/

Brian Austin Green $70k behind on his mortgage and trying to short sell his house. Oh well, at least he is still dating Megan Fox.[/quote]

That is more than a fair trade off[/quote]
LOL
 
I wonder if he's thinking...

Hmmm. Continue dating MF, lose my house, or sell a "personal and private" video tape, keep my house... Decisions, decisions.
 
[quote author="Soylent Green Is People"]I wonder if he's thinking...

Hmmm. Continue dating MF, lose my house, or sell a "personal and private" video tape, keep my house... Decisions, decisions. [/quote]

...and you KNOW there is one.
 
[quote author="morekaos"]

...and you KNOW there is one.[/quote]

...we can only hope...
 
Man, Even J.R. is slashing his prices..

http://online.wsj.com/article/SB10001424052748704548604575097892565035772.html?mod=WSJ_Real+Estate_LeftTopNews

Larry Hagman Cuts Price
Larry Hagman, who played oil tycoon J.R. Ewing on the prime-time drama "Dallas," has trimmed the price of his Ojai, Calif., estate to $9.5 million, an 11% cut.

Mr. Hagman, 78 years old, and his wife, Maj, built the 43-acre property, about 80 miles northwest of Los Angeles, in 1992. It includes a Mediterranean-style house with nine bedrooms and a large entertaining space that fits more than 200 guests with a lap pool and retractable roof. The home's living areas are oriented toward views of the Pacific, the Channel Islands and the Santa Clara River Valley. In 2003, Mr. Hagman equipped the estate with a giant solar-power system, bringing his annual electric bill to $13 from $37,000.
 
Even Gary Sinise (Lt. Dan) can't seem to make a buck after his investment in Apple and Bubba Gump Shrimp all those years ago. That is a loss (after substantial commissions) from his 2004 price.  Maybe Malibu will slide into the sea after the next earthquake and all this Calabasas property would become ocean front.

http://www.redfin.com/CA/Calabasas/4154-Prado-De-La-Puma-91302/home/8107763

Dec 04, 2009  Price Changed $1,875,000  --  SoCalMLS #F1786929 
Dec 04, 2009  Price Changed $1,850,000  --  SoCalMLS #F1786929 
Jul 26, 2009  Price Changed $1,999,995  --  SoCalMLS #F1786929 
Jul 01, 2009  Price Changed $2,015,000  --  SoCalMLS #F1786929 
Jul 01, 2009  Relisted --  --  SoCalMLS #F1786929 
Jan 22, 2009  Price Changed $2,145,000  --  SoCalMLS #F1786929 
Oct 16, 2008  Listed $2,195,000  --  SoCalMLS #F1786929 
Feb 06, 2004  Sold (Public Records) $1,951,000  --  Public Records 
 
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