CelebrityForeclosure

Nicolas Cage's Las Vegas Home Finally Sold

Filed under: Estates, Celebrity Shopping

The once impressive roster of homes belonging to Nicolas Cage has gradually gotten smaller and smaller. The latest to fall is his Las Vegas home. Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas has announced that he sold Cage's foreclosed, now bank-owned Las Vegas home the first day it was on the market. Cage's property located at 5100 Spanish Heights Drive in Las Vegas is now in escrow and is expected to close on Wednesday.

Cage, who had a variety of properties scattered all around the world, picked up this home in 2006 for $8.5 million. In July 2008 he listed it for $9.95 million. The 14,000-square-foot home with a 16-car garage was later discounted to $9.49 million. The seven-bedroom home is blandly extravagant with a sweeping staircase, home theater, elevator and panoramic views of Las Vegas. The home has a pool and spa and is located in a gated community for privacy. After it was foreclosed it got a discount in line with current Las Vegas prices, Lowman sold Cage's former home for close to the asking price of $4,950,000.

Last November Cage's New Orleans homes were sold back to the bank for a total of $4.5 million. His Rhode Island home still appears to be listed at $12 million.

Gallery: Nicolas Cage in Las Vegas

Tags: celebrity foreclosure, celebrity foreclosures, CelebrityForeclosure, CelebrityForeclosures, las vegas, LasVegas, nicolas cage, NicolasCage

Another Potential Foreclosure For Latrell Sprewell

by Deidre Woollard (RSS feed) —

Filed under: Estates, Sports

Last year was a bad one for former NBA star Latrell Sprewell who saw his yacht, the 70-foot "Milwaukee's Best" repossessed and his $405,000 home in River Hills, Wisconsin facing foreclosure (Sprewell later settled this debt). This year doesn't seem to be bringing Sprewell much more luck. His Purchase, New York home is scheduled for a sheriff's sale at the Westchester County Courthouse on January 7, 2010.

LoHud.com reports that Sprewell purchased the 3.3-acre property in January 2000 for $2.3 million. He got a 30-year mortgage from Washington Mutual Bank for $1.612 million in 2004 and first failed to make payments starting in April 2008, around the time his other financial troubles began. The home was the site of an alleged domestic dispute in 2006. Sprewell was accused of attacking his girlfriend, Candace Cabbil, in front of their four children but prosecutors agreed in 2008 to drop the charges if Sprewell stayed out of trouble for a year.

A listing on Sotheby's Realty has the house at $3.8 million. It has seven bedrooms, a complete gym, pool and spa, basketball court, four-car garage and a recording studio. Listing pictures reveal large televisions, spiky metal sculptures and large open spaces.

Gallery: Latrell Sprewell in Purchase, New York

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Tags: celebrity foreclosure, celebrity foreclosures, celebrity real estate, CelebrityForeclosure, CelebrityForeclosures, CelebrityRealEstate, foreclosure, latrell sprewell, LatrellSprewell

Nicolas Cage's Two New Orleans Houses Listed In Sheriff's Sale

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

A reader left me a hot tip this morning that he had seen a couple of interesting foreclosure New Orleans auction notices come up on the Trulia website. Could they be the homes Nicolas Cage has been trying to sell in New Orleans? A quick look at the Orleans Parish Sheriff website confirms that both of Cage's New Orleans homes on the market including the haunted LaLaurie mansion are listed as part of a November 12 auction. The houses each appear with a claim of $5,548,260.78 and Regions Bank is listed as the claimant against a real estate L.L.C. known to be used by Cage to purchase the homes.

It's just the latest turn in Cage's complicated financial saga.
Just the other day we learned that Nicolas Cage's current total owed to the IRS is now a steep $6,257,005. He recently sold both his Bel-Air, California Tudor home and his New York City apartment. Homes in Las Vegas and Rhode Island remain on the market

[Thanks Bill!]

Gallery: Another Nicolas Cage Home In New Orleans

Gallery: Nicolas Cage in New Orleans

Tags: celebrity foreclosure, celebrity real estate, CelebrityForeclosure, CelebrityRealEstate, new orleans, NewOrleans, nicolas cage, NicolasCage

Continue reading “Nicolas Cage's Two New Orleans Houses Listed In Sheriff's Sale”

Evander Holyfield Facing Foreclosure Again

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Last June former heavyweight champion Evander Holyfield saw his massive 54,000 square foot home in Georgia slip into foreclosure. Now it looks like Holyfield is facing foreclosure again. The home has been listed for an auction scheduled for July 7 because Holyfield is in default on his $10 million loan.

Holyfield told The Associated Press that a settlement would be reached before the 235-acre estate is auctioned. The massive home has 109 rooms, three kitchens and a bowling alley. Holyfield has earned more than $200 million in the ring but has faced lawsuits over missed child support payments for some of his 11 children. His last fight was in December when he lost to WBA champion Nikolai Valuev.

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Tags: atlanta, boxing, celebrity foreclosure, CelebrityForeclosure, evander holyfield, EvanderHolyfield, foreclosure

Stephen Baldwin Headed For Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping, Crimes and Misdemeanors

Actor Stephen Baldwin has been on TV braving the Costa Rican jungle and Speidi in "I'm a Celebrity - Get Me Out of Here!" but he's facing some drama on the homefront too. Baldwin's home in Upper Grandview, New York will be put up for public auction on June 24 at Rockland County Court. Baldwin and his wife, Kennya, defaulted on paying $824,488.36 to mortgage holder Bankers Trust Co.

Baldwin bought the home for $515,000 back in 1997 and restored it. He had it on the market in 2006 for $3.4 million but took it off the market when it failed to sell. At the time it was said that Baldwin put his house on the market because of his frustration with a sex shop that had opened in his neighborhood but Page Six said that the real reason the born-again Christian put the home one the market was because he was in need of cash and owed back taxes. The sex shop changed plans after facing public pressure led by Baldwin.

LoHud.com reports that Bankers Trust will receive the first $824,488.36 brought in by the auction, followed by National City and taxing agencies, according to the county foreclosure papers, which were filed in late April. Listing pics from back in 2006 are in the gallery below.

[via Perez Hilton]

UPDATE: Baldwin's rep told People that the situation will be resolved and no auction will take place.

Gallery: Stephen Baldwin In New York

Gallery: Celebrity Foreclosures

Jeana Keough from the Real Housewives of Orange County

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Tags: celebrity foreclosure, CelebrityForeclosure, foreclosure, im a celebrity get me out of here, ImACelebrityGetMeOutOfHere, stephen baldwin, StephenBaldwin

Victoria Gotti In Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Here's one celebrity foreclosure that doesn't surprise me at all. Victoria Gotti has been trying to sell her home in Old Westbury, New York for years and we''ve watched the price come tumbling down on the dilapidated manse from $4.4 million to $3.2 million. The NY Post reveals that Ms. Gotti, who first put the home up for sale in 2005 after it was used in the filming of her television show "Growing Up Gotti" is being foreclosed on by JP Morgan Chase. She owes $650,000 in mortgage payments. The bank has said that she owed $25,000 on the house each month but didn't make all the payments.

She's been dancing around foreclosure for a couple of years, in 2007 Nassau County Supreme Court Justice Roy Mahon decided foreclosure proceedings were too early but now the Brooklyn Appellate Division has granted the lender's motion for summary judgment on the foreclosure. The NY Post quotes Ms. Gotti's mother, also named Victoria, who lays the blame at the feet of Victoria Gotti's ex-husband Carmine Agnello who she says took out a mortgage behind her back. The listing pics reveal that Ms. Gotti hasn't spent much money on repairs so I'm not sure how much money the bank will get for this home.

UPDATE: Ms. Gotti has vowed to fight foreclosure and keep her home. A bit surprising considering how long she's been trying to unload it.

[Thanks, C.K.!]

Gallery: Victoria Gotti In New York

Gallery: Celebrity Foreclosures

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Tags: celebrity foreclosure, CelebrityForeclosure, growing up gotti, GrowingUpGotti, new york, NewYork, old westbury, OldWestbury, victoria gotti, VictoriaGotti

Lenny Dykstra Facing Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Wings, Celebrity Shopping, Wealth

Former baseball player Lenny Dykstra has been trying to sell his Thousand Oaks, California home for a while now but apparently things are more serious than we realized. He could be facing foreclosure. Private equity firm Index Investors gave Dykstra a $850,000 bridge loan in November which was secured by the home. They have filed foreclosure papers on the home as has Washington Mutual which says Dykstra defaulted on his $12 million mortgage.

Dykstra bought the home from hockey Wayne Gretsky for $18.5 million in 2007 and put it on the market last year for $24.95 million. The six-bedroom home didn't sell and in February it showed a price reduction down to $16.5 million. All of a sudden, the list price has been pushed back up to $25 million. It is still however listed at the same rental price it was in February, $55,000 a month.

Dealbreaker also says that Dykstra's Gulfstream II was impounded on February 12. It's a dramatic turn from a year ago when the New Yorker did a profile of Dykstra and his magazine, The Players Club which was going to show professional athletes how to keep their wealth and not join the ranks of players who earn millions and wind up in financial trouble just a few years later. Since then, Dykstra has been the subject of multiple lawsuits and creditors in relation to the magazine. As investments, magazines are like restaurants, glamorous, but highly profitable only for the lucky few.

Gallery: Lenny Dykstra in Thousand Oaks

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Tags: celebrity foreclosure, CelebrityForeclosure, foreclosure, lenny dykstra, LennyDykstra, thousand oaks, ThousandOaks

Fantasia Faces Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Celebrity Shopping

American Idol winner Fantasia Barrino has become the latest to join our celebrity foreclosure club. A home in Charlotte, North Carolina owned by the singer will be auctioned to pay back a loan that was used to pay her taxes. Broward Energy Partners paid more than $68,000 of her taxes in 2006 and says they have not been fully compensated. The earnings from the sale would be used to finish paying off the loan. The Mecklenburg County Sheriff's Office will auction off the home on January 12 unless she pays her debts. She has another home in the area that is said to be valued at $740,000.

Gallery: Celebrity Foreclosures

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Tags: celebrity foreclosure, celebrity real estate, CelebrityForeclosure, CelebrityRealEstate, fantasia barrino, FantasiaBarrino, north carolina, NorthCarolina

Donald Trump is Ed McMahon's New Landlord

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

I usually save Ann Brenoff's Hot Property column in the L.A. Times for the Sunday Real Estate Round-Up but this is too interesting not to share as soon as possible. Donald Trump has offered to step in and buy Ed McMahon's Beverly Hills home and allow McMahon to continue living there. Trump said in an interview with the Times that although he didn't know McMahon personally he grew up watching him on television and felt that it was an honor to step in and help.

McMahon who is 85 and suffered a debilitating neck injury last year was facing foreclosure within two weeks on his Beverly Hills home. McMahon bought the home in 1990 for $2.6 million and has had it on the market for several years. Most recently it was listed at $4.6 million as shown in the Hilton & Hyland listing. McMahon had defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp.

Trump isn't giving McMahon a free ride. He plans to buy the home from the lender and lease it back to McMahon. According to the Times, McMahon's listing agent, Alex Davis of Hilton & Hyland flew to New York to make a personal pitch to Trump to save McMahon's home.

UPDATE: The LA Times reports that listing agent, Alex Davis, has said there is a second anonymous would-be buyer and so the property is now in a "multiple offer situation."

Gallery: Ed McMahon House