Celebrity Foreclosures 2011
Celebrity Foreclosures 2011. A-List stars and reality show rejects are losing homes like the rest of us.The U.S. economy may be gaining momentum, but the same can't be said for the housing market. More than 2.9 million residential properties received foreclosure notices last year, and the 2011 figure is likely to rise another 20%, according to RealtyTrac, an Irvine, Calif.-based firm that tracks foreclosures.Everyday Americans aren't the only ones losing homes. Many a celebrity has fallen into foreclosure lately too. Some have lost homes due to financial woes. Others have chosen to go the "strategic default" route, giving up the keys to a property to limit their losses, not because they can't afford the mortgage payments.
The famous folks losing their homes these days run the gamut from A-list actors and elite socialites to lower-profile reality show stars. We compiled a list of 13 rich-and-famous homeowners that are either currently going through the foreclosure process or have done so in the past year.
Some celebs are losing multiple homes. Retired hockey star Sergei Fedorov lost two homes in the Detroit suburb of Bloomfield Hills, Mich., in the past year. Grammy-winning songstress Toni Braxton lost her Las Vegas-area home in 2010; then in January US Bank filed a foreclosure suit on her Duluth, Ga., country club residence.