Daily Real Estate News July 1, 2008
Celebrities Have Money Troubles, Too
The problems faced by entertainer Ed McMahon have been widely publicized, but other well-known people are in similar straits.
Boxer Evander Holyfield lost his $10 million estate in Atlanta in May to foreclosure. Baseball great Jose Canseco’s $2.5 million home in suburban Los Angeles is also in foreclosure, as is the home of former Tennessee Titan football player Adam “Pacman” Jones. Ex-NBA star Latrell Sprewell is in danger of losing his $405,000 Milwaukee home and his yacht has been repossessed.
Actor Dustin Diamond, who played Screech on "Saved by the Bell," saved his home by selling T-shirts on his Web site and asking fans for money on the Howard Stern Show.
Singer Michael Jackson cut a deal with casino owner Tom Barrack to get out from under loans on Neverland Ranch by appearing in Barrack’s establishments.
Source: Business Week, Chris Palmeri (06/27/08)
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