Errors of stars in the real estate investment during the crisis

10.10.2010 14:46
Irrational manage their money and ill-conceived investments have led many celebrities to the brink of bankruptcy, which is exacerbated by the global economic crisis. It does not matter whether you have an Oscar, a famous sportsman or pop star, ill-conceived investments and a crisis of all sets in a row

Finally, the litigation is a famous Hollywood actor Nicolas Cage, nephew of Francis Ford Coppola, with his former business manager Samuel Levin ended with success. Samuel Levin previously managed investments Cage and inflicted losses of millions of dollars.

Cage won an Oscar for the film "Leaving Las Vegas" (1995), accusing Levine of incompetence, and gave him a suit in the Superior District Court in Los Angeles in order to receive compensation in the amount of $ 20 million According to documents submitted to court Levin, for 7 years in highly speculative investments in real estate using the funds Nicolas Cage, that amid the crisis has led to disastrous consequences. According to Cage, a failed investment management caused serious damage to his well-being. In 2009, income Cage was $ 40 million, according to the magazine Forbes.

And the house of Stephen Baldwin in Rockland - Northern District of New York, is now under threat of sale by public auction, as the actor and his wife had not paid him a mortgage of $ 824,500, writes

In 2006, the youngest of the Baldwin brothers put up for sale home for $ 3.4 million, but could not find a buyer. Over the years, the cost of mortgages grew, and the outstanding debt accumulated before Baldwin Mortgage Company Bankers Trust, amounted to $ 824,488.36.

However, the debts of Stephen Baldwin and his wife, who have two daughters, is not unique, since, according to the documents, the couple has a second outstanding mortgage and they may be forced to pay tens of thousands of dollars of state and federal taxes, the magazine writes.

The crisis in the real estate market and mortgages also raised the American pop princess Britney Spears, who now needs nearly $ 1 million a month to maintain their "train of life."

Spears` accounts were transferred into the hands of the judge overseeing the running costs of the singer, including a detailed list of expenses for 11 months of 2008. Britney Spears has spent about $ 10 million to cover bills for electricity, water and telephone, as well as to pay the mortgage on a house on the famous beach in Malibu, as well as for the services of its army of bodyguards and lawyers. But the mortgage payment is not yet fully redeemed.

And in 2008 Britney Spears has not been able to sell his mansion in Beverly Hills because of the crisis on the U.S. real estate market. In an effort to promote the sale of the house singer starred in some of its rooms for a directory of real estate.
Content tags: celebrity real estate
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