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Burt Reynolds to lose his Florida mansion after falling 700,000 behind on his mortgage
dailymail.co.uk ^ | 8-16-11 | Tom Leonard

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 ...


TOPICS: Miscellaneous
KEYWORDS: burtreynolds; housing; merrilllynch; mortgage; reynolds
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1 posted on 08/16/2011 9:26:50 PM PDT by Justaham
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To: Justaham

Always feel sorry for anyone of his star quality to loose everything.


2 posted on 08/16/2011 9:31:56 PM PDT by doc1019 (You do not need a parachute to skydive. You only need a parachute to skydive twice.)
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To: Justaham

Bummer! I always liked Burt.


3 posted on 08/16/2011 9:32:25 PM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
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To: Justaham

I feel sorry for Burt too. The guy was the #1 box office draw for years. I blame Bush.


4 posted on 08/16/2011 9:33:31 PM PDT by Artemis Webb (Perry 2012! A Conservative who can win!)
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To: doc1019

Maybe he didn’t understand the mortgage is payable in £ and not $?


5 posted on 08/16/2011 9:36:15 PM PDT by Dissident1
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To: Justaham

That’s what going to FSU will get you.


6 posted on 08/16/2011 9:37:56 PM PDT by dfwgator
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To: Justaham

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.


7 posted on 08/16/2011 9:39:46 PM PDT by Will88
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To: Justaham

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.


8 posted on 08/16/2011 9:40:37 PM PDT by Fledermaus (I'm done with political parties. The GOP is useless. Anarchy is perferable to this CRAP!)
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To: Justaham
........after he fell for cocktail waitress Pam Seals.

Well there's your problem.

9 posted on 08/16/2011 9:42:04 PM PDT by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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To: Justaham

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.


10 posted on 08/16/2011 9:42:40 PM PDT by trumandogz
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To: Justaham
Burt needs cash? Time for another Bandit movie. Get Jerry Reed and Dom DeLuise. What Dom is dead? Oh well. Maybe another Gator movie.


11 posted on 08/16/2011 9:42:58 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Justaham

Puhlease people. The man should have had that paid 20 years ago. WTH.


12 posted on 08/16/2011 9:44:02 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

Guess they don’t teach finance at FSU.


13 posted on 08/16/2011 9:44:46 PM PDT by dfwgator
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To: dfwgator

Than goodness he didn’t go to UTK. Coulda’ been a twofer :^)


14 posted on 08/16/2011 9:47:41 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Dissident1

He lost a lot of money on Celebrity Jeopardy playing against Sean Connery.


15 posted on 08/16/2011 9:49:21 PM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: dfwgator
He killed a man (for real) in Arizona during his first big screen film. The man who loved cat dancing......
16 posted on 08/16/2011 9:49:55 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Justaham

Poor Bert, he married Ernie and Ernie took him for all he was worth.

17 posted on 08/16/2011 9:50:10 PM PDT by trumandogz
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To: Moonman62

That hat cost a fortune.


18 posted on 08/16/2011 9:50:55 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Lazlo in PA

Jerry Reed is dead too


19 posted on 08/16/2011 9:51:46 PM PDT by Lib-Lickers 2
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To: The Cajun
Yep, just another old man who's crotch got him in trouble.
20 posted on 08/16/2011 9:52:53 PM PDT by hinckley buzzard
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To: Fledermaus

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)


21 posted on 08/16/2011 9:54:26 PM PDT by freejohn ("Never argue with a fool; onlookers may not be able to tell the difference." --- Mark Twain)
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To: Justaham

Burt Reynolds is 75?
I think I’m gonna be sick.


22 posted on 08/16/2011 9:54:42 PM PDT by Lady Lucky
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To: Justaham

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


23 posted on 08/16/2011 9:54:45 PM PDT by wardaddy (I support Bachmann...or Palin should she enter...but I am not a Palin Harpy...know the difference)
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To: trumandogz

They can take away Burt's home, but they can't take away his Burt and Ernie hybrid art!

24 posted on 08/16/2011 9:59:24 PM PDT by trumandogz
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To: Lib-Lickers 2
I didn't know that. That is too bad. I liked him. I guess it has to be another Gator movie then unless they can find Norman Fell and do some more Dan August shows. Norman is still alive, right?

I know, I know. Norman Fell is dead too.


25 posted on 08/16/2011 10:01:35 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Justaham

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.


26 posted on 08/16/2011 10:02:10 PM PDT by Slicksadick (Go out on a limb........Its where the fruit is.)
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To: Justaham

It’s the Curse of Elmore Leonard. For what he did to a good novel, “Stick.”


27 posted on 08/16/2011 10:06:28 PM PDT by Avery Iota Kracker (He hate me)
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To: Justaham
Burt Reynolds can become our Terry-Thomas.

-PJ

28 posted on 08/16/2011 10:20:05 PM PDT by Political Junkie Too (Everyone's Irish on St. Patrick's Day, Mexican on Cinco de Mayo, and American on Election Day.)
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To: Justaham

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..


29 posted on 08/16/2011 10:24:22 PM PDT by rolling_stone
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To: Justaham

liked this movie with burt

http://www.youtube.com/watch?v=RiKy3ktxw6M


30 posted on 08/16/2011 10:24:35 PM PDT by chicken head
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To: Political Junkie Too

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.


31 posted on 08/16/2011 10:25:33 PM PDT by BansheeBill
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To: Justaham

This man has been a working Hollywood actor for over 50 years. No sympathy. He put all his money up his nose.


32 posted on 08/16/2011 10:27:23 PM PDT by thefactor (yes, as a matter of fact, i DID only read the excerpt)
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To: BansheeBill

What did he do with all his Boogie Nights money?


33 posted on 08/16/2011 10:29:23 PM PDT by trumandogz
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To: Justaham

I have never understood how some of these people could rake in millions of $ over many years, then wind up broke?


34 posted on 08/16/2011 10:34:42 PM PDT by Sea Parrot (Democrats creation of the entitlement class will prove out to be their very own Frankenstein monster)
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To: BansheeBill
He owned that theater in the 70's and early 80's, bringing theater to South Florida at a time when New York retirees were flooding to Florida, often replacing their parents who first developed Miami Beach in the 60's and early 70's.

That 60's generation of retirees long passed, and today that region is called South Beach, and has been Europeanized and Latinized.

-PJ

35 posted on 08/16/2011 10:39:33 PM PDT by Political Junkie Too (Everyone's Irish on St. Patrick's Day, Mexican on Cinco de Mayo, and American on Election Day.)
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To: trumandogz
Better yet, Burt could be driving a Volt while being chased by Sheriff Obama’s Million Dollar armor plated Black Bus.

I'm still working on the Title.

36 posted on 08/16/2011 10:41:14 PM PDT by Kickass Conservative (If Sarah Palin was President, you would have a job by now.)
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To: Kickass Conservative
I'm still working on the Title.

Honky and the Bandit.

-PJ

37 posted on 08/16/2011 10:44:04 PM PDT by Political Junkie Too (Everyone's Irish on St. Patrick's Day, Mexican on Cinco de Mayo, and American on Election Day.)
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To: Political Junkie Too
that region is called South Beach, and has been Europeanized and Latinized.

And Homoized.

38 posted on 08/16/2011 10:44:59 PM PDT by dfwgator
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To: Sea Parrot

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.


39 posted on 08/16/2011 10:49:48 PM PDT by ReformationFan
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To: ReformationFan
He probably gave up a little bit when he lost his best friend Dom DeLouise two years ago.

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."

-PJ

40 posted on 08/16/2011 10:57:42 PM PDT by Political Junkie Too (Everyone's Irish on St. Patrick's Day, Mexican on Cinco de Mayo, and American on Election Day.)
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To: Justaham

Loni ruined poor Burt.


41 posted on 08/16/2011 11:01:25 PM PDT by smokingfrog ( sleep with one eye open ( <o> ---)
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To: Kickass Conservative

A redo of Canonball Run would be better for that.


42 posted on 08/16/2011 11:07:35 PM PDT by smokingfrog ( sleep with one eye open ( <o> ---)
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To: Artemis Webb

Agree, It probably was Bush that place him in this precarious position.


43 posted on 08/16/2011 11:10:49 PM PDT by MaxMax
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To: Justaham

Very,very underappreciated actor. Should have won an Oscar for DELIVERANCE.


44 posted on 08/16/2011 11:28:35 PM PDT by Cyman
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To: Justaham

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.


45 posted on 08/16/2011 11:33:08 PM PDT by ozzymandus
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To: ReformationFan

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.


46 posted on 08/16/2011 11:40:37 PM PDT by boop ("Let's just say they'll be satisfied with LESS"... Ming the Merciless)
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To: boop

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.


47 posted on 08/17/2011 12:19:31 AM PDT by Wally_Kalbacken
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To: Justaham

I’m sensing a “Lifetime Achievement” Oscar somewhere in Burt’s future.

a.k.a the “Nice Knowin’ Ya” Oscar.


48 posted on 08/17/2011 12:47:22 AM PDT by OrangeHoof (Obama: The Dr. Kevorkian of the American economy.)
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To: Dissident1

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!


49 posted on 08/17/2011 1:21:57 AM PDT by gr8eman (..."Well...I guess they had it coming, Will;...We all got it coming, Kid!")
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To: gr8eman
Deliverance was Burt's best movie but Smokey and the Bandit made him the big bucks, when he had big bucks that is.
50 posted on 08/17/2011 1:43:44 AM PDT by Kickass Conservative (If Sarah Palin was President, you would have a job by now.)
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