Celebrities Facing Foreclosure

Back in 2008, the Associated Press reported the former heavyweight champion Evander Holyfield was facing foreclosure on his nearly $10 million estate in Fayette County, GA. The 54,000 square-foot suburban home, reportedly consists of 109 rooms, three kitchens and a bowling alley and was expected to be auctioned off by the Washington Mutual Bank. Photo Source: REUTERS

Just last summer, Stephen Baldwin lost his New York home to foreclosure after facing a few, bad financial decisions. Due to outstanding debts, unpaid taxes and credit card bills, Baldwin and his wife were reportedly facing various financial problems at the time of the foreclosure. According to a petition filed in the U.S. Bankruptcy Court in New York, the couple reportedly filed for Chapter 11 bankruptcy. Photo Source: REUTERS

In 2009, Forbes ranked c as the fifth-highest-paid actor in the U.S., but it doesn’t seem to be helpful in saving his homes from foreclosure. After falling behind in mortgage payments and real estate taxes, the City of Angles star lost two New Orleans homes worth a total of $6.8 million to foreclosure in November. Meanwhile, the Oscar-winner was forced out of his Bel-Air home and his Las Vegas residence due to foreclosure in 2010. In an effort to avoid foreclosure, Cage unsuccessfully tried to sell his Bel-Air home for $35 million. According to Luxury Homes, Cage bought the Las Vegas home for nearly $8.5 million in September 2006. After facing foreclosure, the house sold for a mere $4.95 million. Photo Source: REUTERS

Rapper Chamillionaire, (real name Hakeem Seriki) stopped making payments on his 7,583-square-foot Houston home and reportedly told gossip site, TMZ.com, that he “decided to let that house go because the house ended up being worth nothing.” Photo Source: REUTERS

Beloved TV personality and Johnny Carson’s sidekick on “The Tonight Show” faced foreclosure on his Beverly Hills home in 2008, just a year before his passing. According to the court papers, McMahon was nearly $644,000 behind on his $4.8 million in mortgage loans. The “Star Search” host and his wife had listed their home on the market for nearly two years before facing foreclosure. Photo Source: REUTERS

Star of “Growing up Gotti” and daughter of the late Gambino crime family boss John Gotti, faced foreclosure on her $4.2 million mansion in Long Island. According to the New York Post, who first reported the foreclosure in 2009, Gotti owed the bank $650,000 on a mortgage payment for the $4.2 million mansion. Photo Source: REUTERS

The former American League MVP joined the list of celebrities facing foreclosures in 2008. He lost his California mansion after owing more than $2 million to the bank. Photo Source: REUTERS

Looks like Dustin Diamond won’t be saved by anything this time around. The former “Saved by the Bell” star is facing foreclosure for the second time on his Wisconsin home. The actor has fallen nearly $250,000 behind on his mortgage payments, and Wells Fargo has reportedly started foreclosure proceedings. Photo Source: REUTERS