Burt Reynolds’ Florida Home in Foreclosure
Burt Reynolds was once Hollywood’s much-loved highest-paid actors. Today, 75 years old, Reynolds has run into some financial trouble.
It has been reported he has not paid the 4-acre waterfront home in Florida since September 1, 2010. He currently has two mortgages on the home. The first mortgage he owes $1.2 million, and the second mortgage is behind $750,000. The judge is ordering the home to be sold in order to pay off the debt.
The Mediterranean-style home includes includes a swimming pool, private beach, boat dock, cinema and hair salon. The property is valued at $2.4 million.
‘Real Housewives’ Husband Russell Armstrong Commits Suicide after Financial Burdens and Divorce
Russell Armstrong, estranged husband of Taylor Armstrong from Real Housewives of Beverly Hills, was found dead Monday at 8:16pm. The Coroner’s Office rep is treating the death like a suicide. It is rumored that he hung himself from overwhelming debt and separation from his wife. After Wednesday, the coroner will begin the examination.
Russell Armstrong was an investment banker, and his wife filed for divorce last month. They have a five-year-old daughter together. He was married previously, and had two sons ages eleven and thirteen.
Russell had a history of financial problems. In 2005, he filed for Chapter 7 bankruptcy, and court documents revealed he had less than $50,000 in assets. The documents also exposed his debt to be from 1 and 10 million dollars. In addition, he has a history of law suits filed against him along with a felony for financial wrongdoing.
In 2001 and 2003, he faced charges on negligent misrepresentation, breach of fiduciary and fraud. In 1995, Russell served five years of probation after charged for tax evasion. Russell has been battling financial problems for over ten years. Taylor’s rep made a public statement that she is “devastated” and trying to comfort their daughter.
American Idol Fantasia Barrino being sued for $25,000
Fantasia Barrino, American Idol winner from 2004, had a very overwhelming past few days. She announced during a charity concert in Florida that she is pregnant. Her manager has been denying the pregnancy rumors, and claimed the weight gain was for a movie role.
Now a bank is suing her for more than $25,000 for unnamed reasons. It has been reported she owes the bank $25,057.02 plus 10% interest from back in 2009.
This is not the first time Fantasia has been in financial trouble. The Grammy Award winner nearly lost her home in a foreclosure. She saved the home by making a payment just in time.
She purchased the home in 2007 for $1.3 million dollars. The property is a 6-bed, 6,000-sq. ft. mansion. Her relative claimed this was all a misunderstanding because Fantasia was not able to make the court hearing. At that time, she was accused of defaulting on $58,000 of the loan.
