With 1 in every 483 households in the U.S. facing foreclosure, it only stands to reason that us common folk aren't the only ones affected by the housing crisis. It's just as easy to create a mountain of debt by borrowing against a multi-million dollar estate, as it is for a moderately priced home. Here are some of the celebrities added to the country's growing list of foreclosures.
Sadly Ed McMahon, former Tonight Show announcer, is facing foreclosure for $4.8 million dollars of mortgage loans on his Beverly Hills estate. Plagued with bad press, this luxury home overlooking Coldwater Canyon and Mulholland Drive has been up for sale for $6.25 million for the last two years. Initially McMahon faced problems due to mold infestation which he claimed killed his dog and affected the health of both him and his wife. Then he fell and broke his neck and was out of work for 18 months. How would any of us deal with a back mortgage and loans totaling $4.8 million after being unemployed that long? Ed, take this as a sign, maybe it's time to down size and retire.
Evander Holyfield, former heavyweight boxing champion is facing foreclosure on his Atlanta, Georgia estate. This 104-room, 54,000 square-foot home worth approximately $10 million, goes up for auction on July 1.
Jose Canseco, former major league baseball player recently lost his 7,300 square foot home in Encino to foreclosure. As he stated, "It didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else." He didn't mention how much the home was actually worth, but he owed the bank $2.5 million on the house.
Michael Jackson - In 2007 after borrowing against it, to the tune of $23 million, the ranch valued at only $6 million faced foreclosure. Recently, however, a private equity group bought the loan on Neverland Ranch and is discussing the option of a Las Vegas casino gig as repayment.
In May of 2008, the $600,000 home of NBA star Latrell Sprewell went into foreclosure. This came only months after his 70-foot yacht, "Milwaukee's Best" was also repossessed. Sorry Latrell, maybe you shouldn't have turned down the $21 million contract extension Minnesota offered you.
Grammy Award-winning Aretha Franklin received a notice of foreclosure against her Detroit mansion after failing to pay a $162.14 tax bill dating back to 2005. Last we heard, the bill was cleared up.
Veronica Hearst, step mother of SLA hostage Patty Hearst, faced foreclosure on her 28,000 square foot, 52-room villa in Palm Beach. Her defaulted mortgage payments totaled about $33,000,000. It's hard to believe the deficit was allowed to get that high before the bank stepped in.
Nicole Murphy was unable to make payments on the 11,158 square foot mansion she was awarded in her 2006 divorce settlement from Eddie Murphy. Last October the house was put on the market for the bargain price of $6,500,000.
High End Dvd Players
As inflation tightens its grip on America, its consumers are staying home more often. Consequently, DVD and video game sales have increased dramatically. In response the DVD industry are releasing old television shows like, Emergency and China Beach, as well as new shows. However, it is the high quality of television programs today that are causing the newest DVD releases to sell out in stores across the country. Shows like Prison Break, Dexter, and Terminator: The Sarah Connor Chronicles have been creating an extra wave of excitement on top of the increase in sales already underway because of their high production value, intense story-lines and great acting.
Prison Break Season 2 continues after Michael Scofield (Wentworth Miller) has broke out of the maximum security prison at Fox River and now must fight to survive inside Sona, a hellish Panamanian prison where the only rule is brutal violence and the only way out is in a body bag. So, with time running out, Lincoln Burrows (Dominic Purcell) scrambles desperately to free his brother along with the only man who can deliver Lincoln's captive son from the sinister clutches of The Company.
The critically acclaimed and groundbreaking original series from Showtime, Dexter, starring Michael C. Hall, returns on DVD with 12 riveting and chilling episodes. In Dexter - The Second Season. Dexter is committed to carrying out his twisted brand of vigilante justice - Dexter begins to doubt his murderous capabilities and continues to be haunted by his tortured past. His difficulties multiply when evidence of his deadly after-hours activities begin to surface and the FBI is brought in to investigate the city's new serial killer dubbed the "Bay Harbor Butcher". Dexter can't pause for a breath as the noose tightens and the questions keep mounting.
In Terminator: The Sarah Conner Chronicles, Sarah Connor (300's Lena Headey) her son John, and their protector, a terminator from the future must take back the future. While simultaneously prepare her son to be the future leader of humankind and to fight the war against machines determined to annihilate the human race.
As if to complement the exceptional drama, two new comedy shows have made their debut on DVD which are as high of quality as they are funny. The Big Bang Theory and Spaced are both surprisingly funny with good story lines and new gags an accomplishment that is rarely seen in television comedies.
In The Big Bang Theory physicists Leonard and Sheldon understand everything from the inescapable gravitational pull of a black hole to the intricate structure of the atom unless those atoms are assembled into a woman, then their comprehension comes to a grinding halt. So when Penny, a woman with all those atoms in all the right places, moves in across the hall, Leonard and Sheldon's universe begins to expand in ways they never could have imagined.
In Spaced two idle twenty-something flatmates - would-be comicbook artist Tim (Simon Pegg, Shaun of the Dead, Hot Fuzz), and moody writer Daisy (Jessica Hynes), exist in a world precariously perched on the edge of sanity. So when their self-induced lack of success in employment, relationships, and their oddball assortment of friends and neighbors, Marsha, Brian, Mike and Twist get thrown into the mix their world gets hurled into hilarious insanity.
This selection of titles is just a small part of the great DVD sets being released. Television shows on DVD are this summers perfect fix for high gas prices and travel expenses but since there are no commercial interruptions, the popcorn is perfect, and the chair is comfy, why bother going to the theater.
Both M & Virgil Morris are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
M has sinced written about articles on various topics from Online Business, London Travel and Real Estate. Learn more about homes at HomesByLender.com, a website with regularly updated. M's top article generates over 1000000 views. to your Favourites.
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