WHICH Oscar, Golden Globe and Emmy-winning star is thisclose to losing his multimillion-dollar Malibu home to foreclosure? The aging actor needs to go back to his roots and start picking roles that will put him back in demand!
Posted by
ent lawyer
at
7:00 AM
Labels: National Enquirer
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33 comments:
Denzel?
Oooh, good one.
I realize that this isn't Enty's blind, but the foreclosure blinds are just so dull. Unless they squandered their money away on drugs and/or hookers, there's really nothing interesting about it.
Louis Gosset Jr
James Earl Jones comes to mind, he won an honorary Oscar.
Nick Nolte
James Earl Jones or ohhhh, Nick Nolte is a good guess.
I'm assuming the word "roots" is a clue here...
But my main Q is:
Why the new heading for the Enquirer blinds? What did I miss?
@ selena. National Enquirer is usually enty's blind but doesnt give him credit for it so now Enty is using their blinds and not giving them credit
Louis Gossett, Jr.
Oscar: Officer & A Gentlemen
Emmy: Roots Won a GG also
lives in Malibu
I'll guess Louis Gossett Jr. - he was in Roots and has won all three of those awards. Still boring though.
Cindy Adams is p**sed off at Mike Walker as well for re-posting her stuff and not giving her credit. Tsk Tsk What did Alec Baldwin once call Mr. Walker? "A goat footed queen". Lol
Nick Nolte never won any Oscar.
When the poor or middle class face foreclosure, they lose their home.
When the wealthy face foreclosure, they made a "failed investment".
Never feel too bad for celebrities facing foreclosure. Most of them can afford to pay cash for a home, but they finance because they treat it as an investment just like playing the stock market. Many simply quit paying the banks after they realize they're losing money on their "investment", allowing the financial institutions to absorb the loss.
What's the worst that can happen if you're rich? A bank won't loan you money for another mansion, so you're forced to pay cash for it?
@Evil, you are correct . Look at what Nic Cage did- let a couple of homes go into auction rather than pay his way out of foreclosure. And even with lousy credit, he will be able to get a bank loan through whatever production company he works with.It's appalling.
Not to defend Nic (cuz I just don't see what everyone says about what a great actor he is) but didn't he have an auction so he could pay off some debts? Like that big Comic book sale or something like that?
I can't see that Lou isn't choosing the right roles that would make him go back to his "roots". I can see that he probably just isn't being offered work like he used to be. If that's the case then I really feel for him and his family.
Great job guessing LG jr. I blame his struggles on his mustache.
Pacino?
Oh, now I get it.
Preesh the intel there, Borg Queen!
@Sherry, no, the auctions paid back some of the bank loan and property taxes owed. But it did open up new" monies coming in from his horrible new movies. But Moonstruck is still on my favorite list
interesting info at
http://mockingwords.blogspot.com/2009/11/nicolas-cage-is-not-victim.html
@
Evil Kumquat--
I'm in a resort area and it's not just the rich who "strategically default."
The fuckers are everywhere, especially in second-home markets like mine, because they feel it's socially acceptable to walk away from commitments and debts.
And I, as a proper mortgage-payer, LOATHE them like a damn hydrangea.
Same here, selenakyle. Same here.
Thanks for putting me underwater for ever, you bastards!
Yet our tax dollars were used to bail Wall Street out. Go figure.
Robin Williams. He does stand up now I think
Thanks Agent. I was too lazy to look it up.
selenakyle - there should be no shame or condemnation for people realizing they made a bad financial decision and walking away from it. It's common sense. They need to look out for themselves and their families and do what's best for them. A mortgage is a contract that outlines the buyer's options: to make the payments and keep the house, or to stop paying and lose the house. They are simply exercising the second option.
Corporations do this all the time, and when they do, they're applauded for showing sound business sense.
Criticizing someone for bailing out of a bad business deal is like criticizing someone for bailing out of a bad marriage.
@selenakyle My mom & her worthless husband are 2 of those fuckers. Spend all their money on booze, cigarettes, and pills, then have the audacity to BRAG to people "We get to live in our house for a full year without paying for it!" And in the same breath beg for money. Disgusting.
Granted there are people that work the system and don't pay even if they can. Then there are people like my husband and I who were told when we bought a house with a high interest rate that we could refinance in a year or two. Well our house was worth way less than what we paid for it and the bank would not help. To make matters worse the city(my husband is in law enforcement) cut overtime, raised our insurance premium along with making us pay 100% for myself and children, AND took away 3% of his pay and retroacted
Sorry if I sounded bitchy but it a sore subject when I see my husband busting his ass and us trying to trim every corner we can while my children say they want to move back to our old house cause they had their own room and friends galore.
And a Tony
For what it's worth - my husband and I bought a house in 2006, the height of the market in s. Florida. We suffered a huge drop in business last year and in December, to our shame, we couldn't make the mortgage payment anymore. We used up most of our savings making the payments (but not our retirement money - they can't touch that in Florida) The day the mortgage payment was due I called the bank - it took 5 months of work (and finally, a letter to our Senator in DC asking for him to find out why the bank was dragging its feet) but we got a HAMP adjustment and a rate of 2% - a rate we can afford. We spent money on a lawyer to make sure the deal was good. We're in the 3 months trial period and as long as we make the payments, it should become permanent in July or August. Going through this just killed us. We owe NOTHING on our credit cards - we scrip and save as much as possible. Our only splurge is cable (we can't live without MLB TV). What I'm trying to say is there are other avenues out there but sometimes you have to stop making the payments in order for them to become available. And now I'm finally able to sleep through the night.
Best advice - if you're having trouble making the mortgage payment, a lot of foreclosure attorneys have one free visit - use that to find out what your options might be!
I can't feel for folks who have been living large. They had a choice. If I had that money believe me I would have my "secure" paid-for hovel tucked away for times like this. You know, times when I could only afford to live in a place that was 1500 sq. ft. with only a 2-car garage and one hvac system.
California and the south got hit hard. The mortgage crisis hit nice people who made good well thought out choices and people living beyond their means equally.
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