mortgage

They're rich and famous and in foreclosure

Mortgage » They're Rich And Famous And In Foreclosure

How does a Toni Braxton, Allison Janney or Kiss guitarist Ace Frehley fall behind on house payments?

The same way ordinary people do: They get squeezed by an adjustable-rate mortgage, trapped by a down economy or hung out to dry when prices refuse to rise sufficiently to cover their debt. Here are six celebrities whose fame and fortune couldn't forestall a real-life foreclosure.

The star: Rapper Common

The house: A Chicago apartment, actually

The details: When mortgage payments from the rapper became a little too uncommon, Bank of America threatened to sell the apartment to recoup more than $345,000. Common's camp says he's getting a bad rap from BofA, as it was common knowledge the rapper planned to sell his crib.

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