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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: Former NFL All-Pro defensive end Jevon Kearse
The house: A 6,000-square-foot home in Pompano Beach, Fla.
The details: Since retiring from the NFL three years ago after 11 seasons with the Tennessee Titans and Philadelphia Eagles, Kearse now owes the bank $5.25 million, prompting a foreclosure notice in December. What's more, the Internal Revenue Service has slapped him with a tax lien for more than $400,000 on his 2010 income.