Celebrity homes you didn’t know were repossessed – Financial problems happen to the best of us, and by “best,” we mean “richest.” Making millions of dollars is not necessarily the end of money issues.
More..
- 40 fun questions to ask your partner while chatting
- 12 things a girl does when she likes you already..
- 13 things women only do when they’re not interested in you
- The 10 most attractive female celebrities in USA – See who’s #1 (With Pictures)
It’s important to know how to properly manage your funds if you’re going to be wealthy for a considerable period of time. Unfortunately, it takes some celebrities a while to understand this principle.
Most people think that making three or four times more than their current salaries would translate into a paid mortgage, the elimination of car payments, and fancy shopping sprees on a regular basis. While we often see celebs enjoying these financial perks, there are times in which a celebrity’s home has to be repossessed. Of course, the reasons for a famous person’s money problems are just as varied as those of “commoners.” Some celebs are too busy partying and trying to impress their friends with their new wealth, they fail to notice when their monetary affairs are in serious trouble. Some famous people come from poverty, and are so excited to live a luxurious life that their spending gets out of control. Others are taking care of family members financially while neglecting their own monetary responsibilities. There are some instances in which financial issues get so serious that major items and investments sometimes have to be repossessed. Here are 10 celebrity homes that went from celebrity property to mortgage lender property.
10. Burt Reynolds
The veteran actor who is perhaps best known for his role in Smokey and The Bandit didn’t pay the mortgage on his home for two years. The property mortgage was worth $1.2 million at the time. The home was short-sold to the tune of $5 million, which is a third of the price that Reynolds purchased the home for. The home has yacht dockage, a helipad and is 12,500 square feet. The property is on the water and has a lot of space for a large family. Unfortunately, Burt Reynolds couldn’t keep up with the payments for this beautiful home, so it’s likely that someone else is enjoying it now.
Navigate using <-> arrows below
Discussion about this post