Skip to comments.Burt Reynolds to lose his Florida mansion after falling £700,000 behind on his mortgage
Posted on 08/16/2011 9:26:46 PM PDT by Justaham
Burt Reynolds, once one of Hollywood's highest-paid stars, faces eviction from his Florida home after failing to pay the mortgage. The 75-year-old actor is being taken to court after claims he has failed to make a payment on his waterfront mansion for almost a year. Lawyers for Merrill Lynch have asked a judge to sell the £1.4million house, set in 4.5 acres, so they can recover the £700,000 the bank says it is owed
In a sign of the scale of his financial hardship, property records show Reynolds has a second £455,000 mortgage on the property with another bank. He bought the house, which has a swimming pool, private beach, boat dock, cinema and even its own hair salon, with his wife Loni Anderson.
They married in 1988 and separated five years later after he fell for cocktail waitress Pam Seals. Two years ago the property in Hobe Sound, described by Reynolds as his 'paradise' was on the market for £5.4million.
The star, whose career spans more than 40 years with hits including Deliverance, Smokey and the Bandit and his 90s comeback movie, the critically acclaimed Boogie Nights, has faced a series of health setbacks in recent years.
(Excerpt) Read more at dailymail.co.uk ...
Always feel sorry for anyone of his star quality to loose everything.
Bummer! I always liked Burt.
I feel sorry for Burt too. The guy was the #1 box office draw for years. I blame Bush.
Maybe he didn’t understand the mortgage is payable in £ and not $?
That’s what going to FSU will get you.
I would have thought his Florida home was long since paid for. I believe he’s had it since his prime box office days. Hate to hear this news.
He’s broke again? Geez, what a loser.
Back in the middle 1990’s I worked at a restaurant owned by Buddy Killen in Nashville.
He was such a great friend of Burt’s he practically went bankrupt (eventually did) giving him money to pull him out of another financial problem.
So it’s not clear Burt is a liberal since he thinks he never has to face the music.
Well there's your problem.
Perhaps he should make another Smokey & the Bandit movie.
Instead of being chased in his Trans-Am across the South, by a sheriff, he could be chased in his wheelchair by an orderly across his nursing home.
Puhlease people. The man should have had that paid 20 years ago. WTH.
Guess they don’t teach finance at FSU.
Than goodness he didn’t go to UTK. Coulda’ been a twofer :^)
He lost a lot of money on Celebrity Jeopardy playing against Sean Connery.
Poor Bert, he married Ernie and Ernie took him for all he was worth.
That hat cost a fortune.
Jerry Reed is dead too
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.