Burt Reynolds to lose his Florida mansion after falling £700,000 behind on his mortgage

dailymail.co.uk ^ | 8-16-11 | Tom Leonard

[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.

[freejohn]

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)

[Lady Lucky]

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

[wardaddy]

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

[trumandogz]

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

[Lazlo in PA]

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.

[Slicksadick]

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.

[Avery Iota Kracker]

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

[Political Junkie Too]

Burt Reynolds can become our Terry-Thomas.

-PJ

[rolling_stone]

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..

[chicken head]

liked this movie with burt

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

[BansheeBill]

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.

[thefactor]

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

[trumandogz]

What did he do with all his Boogie Nights money?

[Sea Parrot]

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

[Political Junkie Too]

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

[Kickass Conservative]

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.

[Political Junkie Too]

I'm still working on the Title.

Honky and the Bandit.

-PJ

[dfwgator]

that region is called South Beach, and has been Europeanized and Latinized.

And Homoized.

[ReformationFan]

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.

[Political Junkie Too]

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