celebrity foreclosure

Fantasia Faces Foreclosure

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

Jeana Keough from the Real Housewives of Orange County

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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

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Tags: beverly hills, BeverlyHills, celebrity foreclosure, CelebrityForeclosure, donald trump, DonaldTrump, ed mcmahon, real estate, RealEstate

Ed McMahon Could Face Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Here's foreclosure? That's what Ed McMahon, the man famous for being Johnny Carson's sidekick on "The Tonight Show" and hosting "Star Search" might be saying soon. McMahon, who is 85, has been trying to sell his Beverly Hills home since 2006 when we first saw it listed for $7.699 million. He fell $644,000 behind on payments on $4.8 million in mortgage loans and a unit of Countrywide Financial Corp. filed a default notice Feb. 28 with the Los Angeles County Recorder's Office. His spokesman said that McMahon broke his neck 18 months ago and has been unable to work since then. McMahon has been working with the lender to try and resolve the situation but it is uncertain if he and his wife will be able to stay in the home which is located in the celeb-friendly community known as The Summit. Real estate agent Alex Davis has the listing (pictures are shown below) which now sits at $6.25 million.

Gallery: Ed McMahon's Home

Gallery: Celebrity Foreclosures

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Tags: celebrity foreclosure, ed mcmahon, EdMcmahon, foreclosure, real estate, RealEstate

Aretha Franklin Facing Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Aretha Franklin, the Queen of Soul, has become the latest member off the celebrity foreclosure club. According to the Detroit Free Press she has said that an attorney's mistake is the reason that her $700,000 mansion in Bloomfield Hills, Michigan has slipped into foreclosure over a mere $445 in 2005 taxes and late fees. She now owes a total of $19,192 in back taxes on the property through 2007. She has plans to pay up and get the slate-roofed brick mansion on Hamilton Road (see pic at the Detroit Free Press article) back before the March 31 foreclosure deadline. TMZ has Aretha's official foreclosure documents.

In related celebrity foreclosure news, Michael Jackson's attorneys say that he has worked out a deal with Fortress Investment Group to save Neverland, his massive California estate which has been flirting with foreclosure for months now. The move will avoid the March 19 auction date for the home. I still say this is just a case of rearranging the deck chairs on the Titanic. Jackson likely cannot afford the home and he can't seem to find anyone who will buy it from him.

Gallery: Celebrity Foreclosures

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Tags: aretha franklin, ArethaFranklin, celebrity foreclosure, michael jackson

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