Celebrities may stay in shady motels at the start of their career, but when they make it big, they’re supposed to have enough cash for that Malibu mansion, right? Well if you think every celebrity’s story ends in “happily ever after in an oceanfront villa,” think again. Celebrities are notorious for wrecking fabulous credit records, and have often been found with empty pockets hanging out of their Armani suits. This equals eviction or foreclosure when it comes to real estate. So, here is a list of 7 celebrities who were sunbathing by their infinity pools when the bank agents arrived to seize their homes.
1. Courtney Love
Love purchased a home from the family of her ex, Kurt Cobain, but perhaps forgot the mortgage she had taken out on the home required monthly payments. How else can one explain how she allowed debt on the property to accumulate for three years? At one point, Love owed an astounding $386,000 in back mortgage payments. Within a few months, following court action, the singer lost the property in foreclosure.
2. Kristin Cavallari
Laguna Beach’s notorious party girl lived in a $13.9 million (as listed in 2009) home boasting four bedrooms and six bathrooms. This was until 2012, when the home, which was owned by her parents, went into foreclosure. Subsequently, it was purchased by OneWest Bank for less than half of the 2009 list price. Today, Kristin is married to a professional football player, so mortgage payments shouldn’t be an issue for the couple.
More in Entertainment
The ‘Guardians of the Galaxy’ Cast Stands Up for Their Embattled Director
It’s been more than a week since news broke that Disney had axed James Gunn for a series of tweets he...July 30, 2018
Obama Dances at a Beyonce Show, Reaffirms Position as World’s Coolest Nerd
Even though Jay-Z and Beyoncé have only been on the road for just a few short weeks, the iconic couple’s On...July 30, 2018
Drake Returns to High School Drama with ‘Euphoria’
This morning, HBO announced that it was ordering 10 episodes of high school drama series Euphoria, based on 2012 Israel series...July 30, 2018
Facebook CEO Mark Zuckerberg Loses $15 Billion In a Few Hours
Facebook on Wednesday published disappointing quarterly revenue. The next day, Wall Street responded in kind, and the shares of the social...July 27, 2018
‘Orange Is the New Black’ Continues to Dazzle in Season Six
Netflix on Friday released the sixth season of Orange Is the New Black, the comedy-drama set in a women’s prison. For...July 27, 2018
Alex Jones Banned from Facebook for 30 Days
After receiving multiple reports about four different videos posted to pages maintained by Alex Jones and his website InfoWars, Facebook decided...July 27, 2018