Wednesday, January 26, 2011

Celebrity Foreclosure

Anybody can be a victim of foreclosure. It doesn’t look into the status of a person in the society or the fame or even the job. If you are in trouble paying for monthly mortgage, no matter who you are, foreclosure will come in to your way.

The award winning director and Mel Gibson can testify to that. His property in Malibu, California is facing foreclosure because he failed to pay $12,000.

The Academy Award winning actor Nicolas Cage also lost two New Orleans homes. The two houses may worth $6.8 Million combined. Because he was left behind $5.5 Million on his mortgage payment, his property is at stake plus he owed $151,730 property tax.

The singer Latoya Jackson is also on the list after she reportedly in default with a debt worth $750,000 in the year 2009.

Also included in the list is the singer Jermaine Jackson, the brother of Michael Jackson. His house is currently going up for auction.

The musician Wyclef Jean is also facing foreclosure trouble as he owes more than $2.1 million and facing tax troubles.

Timothy Busfield is also on financial stress brought about by his divorce and currently behind $1.25 Million on his Malibu home mortgage.

And of course, who have not known the most famous foreclosure ever, no other than the King of Pop Michael Jackson. Yes, funny as it may seems, but Michael Jackson himself before he died faced foreclosure problem. I am referring to his “Neverland Ranch” way back the year 2009.

They are rich, they are famous, and yet, they are facing foreclosure. It is just simple evidence that foreclosure is a threat to anybody and to everybody.


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  2. If you fail to meet payments on time, foreclosure is almost inevitable and it will come at the most inopportune time. Financial emergencies are unavoidable, but foreclosure can be resolved by seeking legal help. Whether your case is pending or waiting for the final verdict, you can work it out with your attorney. Just don't wait before its too late.
    Charlena Leonard @ Matt Weidner Law