Rich, famous and foreclosed

by Caroline Dann05 Oct 2012

At Australian Broker Online, we can’t imagine how A-list celebrities manage to get their properties foreclosed – unless it’s due to sheer laziness, or a PA forgetting to make a payment.

Here’s our list of famous foreclosures:
Nicolas Cage
In 2009, Cage had his two New Orleans homes foreclosed for being $5.5m behind in mortgage payments. The houses were worth a combined $6.8m. The star also owed over $151k in property taxes to the city.
Burt Reynolds
The veteran actor allegedly didn’t pay $1.2m his mortgage for two years. The Florida mansion is now listed for ‘short sale’ at $5m – half the purchase price.
Singer Rihanna defaulted on her $6.9m Beverly Hills pad, bought in 2009. The property was bought for more than the asking price, even though it had suffered ‘severe flooding’ and extensive damage… one has to ask how.
Chris Tucker
This comedian has nothing to laugh about: US-based Sun Trust Bank filed foreclosure papers in 2011 claiming he owed $4.4m to the banks, and he reportedly owes $11.5m in taxes to the IRS. 
OJ Simpson
No surprises here: the convicted felon, currently serving time for armed robbery is facing foreclosure on his sprawling Florida mansion, bought shortly after he was acquitted of murder in the 90s.