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.
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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
I moved away from my home in Fort Lauderdale over 12 years ago but one of the last restaurants that I went to was Burt&Jacks on the water in Port Everglades.
A whopping $200.00 bill for the two of us. (wife and I)
Burt was half owner.
I can’t say that I feel too d@mn sorry for him! 8)
Burt Reynolds is 75?
I think I’m gonna be sick.
damn shame...I met Reynolds twice when I had the good fortune to be around Waylon Jennings a good bit in the mid 90s
not tall...wears lifts...but funny as hell and flirted like crazy with my Texas woman
very very approachable
he and Waylum were doing that CMT talk show thing out at the Opry studio that season
going broke with no time to recover sucks...my greatest fear
very few pull a rabbit out of the hat...US Grant did at the last moment...for his family anyhow..got lucky
They can take away Burt's home, but they can't take away his Burt and Ernie hybrid art!
I know, I know. Norman Fell is dead too.
So the banks actually do take houses back, when the equity supports it. He should have wrapped the second into a bigger first, then he’d still be there.
It’s the Curse of Elmore Leonard. For what he did to a good novel, “Stick.”
What happened to his Gunsmoke residuals? The guy who drew down on Dillon and got shot in the opening scene was raking in over 20g’s a year back then...easy come easy go..
liked this movie with burt
I believe he lost a bundle on a big dinner theater in Jupiter, Florida. He ran/owned it for maybe 10 plus years, before it went bankcrupt.
This man has been a working Hollywood actor for over 50 years. No sympathy. He put all his money up his nose.
What did he do with all his Boogie Nights money?
I have never understood how some of these people could rake in millions of $ over many years, then wind up broke?
That 60's generation of retirees long passed, and today that region is called South Beach, and has been Europeanized and Latinized.
I'm still working on the Title.
Honky and the Bandit.
It’s called a lack of discernment. Being rich and famous does not necessarily mean one is smart. Still, Reynolds always seemed like a likable star. It’s too bad to read of his ending up like this.
According to Wikipedia, Reynolds was quoted at DeLouise's death as saying, "As you get older and start to lose people you love, you think about it more, and I was dreading this moment. Dom always made you feel better when he was around, and there will never be another like him."
Loni ruined poor Burt.
A redo of Canonball Run would be better for that.
Agree, It probably was Bush that place him in this precarious position.
Very,very underappreciated actor. Should have won an Oscar for DELIVERANCE.
I remember seeing Burt on some TV show over 20 years ago, wearing a purple suit, sitting at a bar, drunk, and crying about how Loni screwed him over. I laughed my ass off.
I don’t get it. He filed for bankruptcy some years ago. you’d think he would have learned from the experience and not lived beyond his means AGAIN.
He filed in 1996 - and Florida has an unlimited homestead exemption in bankruptcy. So if he had owned it free and clear he could have kept it through a Chapter 7. You’d think that a guy who was earning what he was earning for the 70’s and 80’s would have had better advice.
I read an article in Rolling Stone in 1997 - a journalist had accompanied him to LA where he was going to shoot Boogie Knights. The writer detailed how Burt had to rent a car and drive to a friend’s house where he was going to bunk for the duration of the film shoot, he was so tapped that he could’t afford a hotel. It seemed rather pathetic - but then he put is a fine performance.
I like the guy and have been hoping that there was some really choice swan song vehicle for him.
I’m sensing a “Lifetime Achievement” Oscar somewhere in Burt’s future.
a.k.a the “Nice Knowin’ Ya” Oscar.
LOL...sorry, but it serves Burt right for exposing me (and the unsuspecting world) to such hideous acting. Anyone who really believes this guy could act deserves to be duct-taped to a chair and forced to watch Gator over and over. Come to think of it...that will probabaly be more effective than waterboarding at Gitmo!
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