7 Celebrities Who Lost Their Homes
Published on July 7, 2014. Updated April 4, 2017A surprising number of celebrities have faced evictions or foreclosures. While some of them were able to narrowly avoid these situations, others weren’t so lucky – or savvy. We find it hard to believe that celebrities even find themselves in these situations. They make more money in one year than many of us will see in a lifetime, but somehow they can’t seem to manage it well enough to hold onto their homes. We decided to take a look at celebrities who faced evictions and foreclosures and lost. Here it is – our list of 7 unlucky celebrities who lost their homes!
7. R. Kelly
R. Kelly’s Illinois mansion was auctioned off last year for only $950,000. This was way less than the $3.5 million mortgage he took out to build the place back in 1997. In 2011, the bank tried to foreclose, claiming that he hadn’t made mortgage payments on the 20,000 square foot home for over a year. Kelly tried to sell it for $1.6 million to block foreclosure, but there were no offers. The house featured six bedrooms, eight bathrooms, an indoor pool, a theatre and private lake.
Stephen C. / Shutterstock.com6. Kristin Cavallari
Kristin Cavallari’s family’s home – which was owned by her father Dennis and her stepmother – went into foreclosure back in 2012. The 7,100 square foot residence was sold at public auction to OneWest Bank for only $6.1 million, a far cry from the $13.9 million it was listed for back in 2009. The estate boasts four bedrooms, six bathrooms and a slew of health inspired features, including a pool, spa, dry sauna, steam sauna and yoga studio.
Helga Esteb / Shutterstock.com5. Courtney Love
In 2006, a home Courtney Love bought for Kurt Cobain’s family back in 1997 was put up for public auction after she failed to pay the $367,000 she owed on the property. According to court documents, the notorious singer stopped making mortgage payments in December 2003. The debt on the house totaled $386,000, which included court costs, sheriff’s fees and interest. Love could have prevented the auction by paying off the debt, but she didn’t. Since there were no bids, the mortgage company took possession of the home.
Featureflash / Shutterstock.com4. Nas
In 2012, Nas lost his two bedroom, three bathroom suburban Georgia home to foreclosure. He purchased the home back in 2004 for $585,000, but defaulted on loan payments to SunTrust bank, which resulted in a $507,000 debt. The property was sold during a public auction in 2012 for $348,500. The house featured 3,500 square feet, a walk-in pool and hot tub, granite counter tops, custom theatre, a gym and game room.
DFree / Shutterstock.com3. Tori Spelling and Dean McDermott
This past January, Tori Spelling and Dean McDermott were allegedly ordered to “pay or quit” their Los Angeles rental home. A notice was put on the gates to the property, which read: “Pursuit to the residential lease agreement dated March 28, 2013…there is now due, unpaid, delinquent rent in the amount of $7,750.” It didn’t look like these two came to agreement with the landlord as they were seen moving out of the house on December 15.
s_bukley / Shutterstock.com2. Toni Braxton
Toni Braxton’s Georgia mansion, which she purchased for a reported $2 million back in 2004, was foreclosed in 2012. According to the bank, the singer, who filed for Chapter 7 Bankruptcy, failed to make at least 10 monthly payments between 2004 and 2010.The house went on the market for $1.1 million in 2012. It featured 11,400 square feet, six bedrooms, six baths, a gourmet kitchen, three-car garage and a huge deck overlooking the backyard.
Helga Esteb / Shutterstock.com1. Nicolas Cage
Nicolas Cage has had more than one property foreclosed. In 2009, he lost his two New Orleans homes worth a total of $6.8 million to foreclosure auctions. The Oscar-winning actor reportedly owed $5.5 million in mortgage payments and $151,730 to the City of New Orleans in real estate taxes. In 2010, Cage also lost his Bel Air mansion to foreclosure. A limited liability company bought the house for a reported $10.5 million. He had tried to sell it back in 2007 for $37 million, but had no luck.
andersphoto / Shutterstock.com