Correct me if I’m wrong, but celebrities usually make more money than the average human, right? I mean, chances are that if your name appears in the papers or on several entertainment sites, then your paycheck is bound to have a few extra zeroes on the end of it…yes? I just wanted to double check that I wasn’t crazy with this logic, but it seems like more and more celebrities are facing foreclosure with their houses. First R. Kelly with his mansion and now Burt Reynolds with his $1.2 million mortgage debt — I know the bad economy has certainly put a big dent in employment opportunities (and therefore our bank accounts), but I had no idea our Hollywood stars were feeling the effects so badly.
The Boogie Nights legend has been slapped with a lawsuit claiming he owes $1.2 million on his Hobe Sound, Florida, $2.4 million home. It states Reynolds hasn’t made a payment on the property since September 2010. The 72-year-old actor and his ex-wife, Loni Anderson, initially took out a $1.5 million mortgage on the home in 1994, with the understanding that the loan would be paid off by 2019. The outlook doesn’t appear to be looking too good for Mr. Reynolds. Now might be a good time to mention to your agent about getting someone to sponsor Boogie Nights: The Later Years, Reynolds.
Source: Radar Online