Celebrity Housing Problems

Many celebrities are experiencing their own problems with real estate and the market according to HomeGuide123.com, ABC News, Yahoo and the LA Times. Here are some celebrities experiencing housing problems... (Originally published 2/08 and recently updated.)

Nicolas Cage lost two homes in New Orleans worth a total of $6.8 million in a foreclosure auction. Cage owed $5.5 million in mortgage payments and $151,730 to the City of New Orleans in real estate taxes. CNN reported that Cage owes more than $6 million in back taxes and his properties in California and Las Vegas have also been foreclosed on and are designated for auction later this month. Someone's leaving Las Vegas... Er, New Orleans...




Michael Vick the infamous dog fighting quarterback lived in his Atlanta home for only two years before putting it up for auction. Suffering from financial troubles since his sentence, he purchased his home for $3.1 million and is now trying to get rid of it for $3.2 million. Not one person showed up at the auction. While living there, he added a workout room, golf simulator and custom bar. The property is also completely furnished. He still owes $3 million on the mortgage with no sign of getting it sold



Dustin Diamond Former child star, better known as 'Screech' from "Saved by the Bell", sold t-shirts online in an effort to pay off outstanding bills on his home in Milwaukee. The t-shirts read: "I paid $15 to save Screech's house".






Ricky Martin is livin' la vida loca and confident about it. Over the last few years he's made a profit from flipping prime real estate in Florida. Ricky purchased a $16,250,000 Florida mansion in April of 07'. He's now trying to sell it for $22,500,000. Another of his many wishful flips is a Miami Beach mansion for $19,500,000 which five months ago he had it listed for $16,900,000. If all else fails, you still had one hit to look back on. Good luck!




Ed McMahon a very wealthy celebrity was even hit by the mortgage crisis. The LA Times reported that Ed McMahon, known for being Johnny Carson's sidekick and a spokesman for American Family publishers, has defaulted on a $4.8 million mortgage loan. (Update: RIP Mr. McMahon)






Avril Lavigne is feeling the struggle of selling right now. Lavigne has had her $6.9 million dollar home on the market for a year. With two failed offers she's now reduced her home to $5.8 million.







Aretha Franklin also known as the 'Queen of Soul' (self proclaimed?) is reportedly in the midst of a foreclosure mess over her Detroit mansion and a suburban condo after failing to pay a few thousand dollars in back taxes. The singer has reportedly blamed the mistake on her attorney.






Courtney Love has a long history of drug abuse and bad behavior. Financial troubles caused her to lose the bungalow she and Nirvana front-man Kurt Cobain, who committed suicide, bought in Olympia, Washington.






Latrell Sprewell, the former NBA basketball star isn't balling anymore apparently. His $405,000 home has just gone into foreclosure. Sprewell hasn't made a mortgage payment since September of last year. He also had his yacht repossessed last year. Maybe it's time to release a rap album.






Michael Jackson is about to beat it. His well known Neverland Ranch isn't seeing its best days. He has a $23 million dollar loan on it and is in back payment trouble. He's behind $200,000! He's looking for someone to refinance his loan before it goes into default. Good luck there man in the mirror. (Update: RIP, Sir Michael)





Marion Jones, the fastest steroid user of the Olympic error, is down to her last $2,000. Her $2.5 million dollar North Carolina mansion was foreclosed on in 06'. Jones reported while driving in her Porsche SUV, that she had no idea where all the money went. Uhm.






Billy Donovan, Florida Gators basketball coach, is in some deep trouble, or is he? The coach purchased a $6 million dollar property on a 40-year mortgage with no money down. He also got locked into an ARM. Now the ARM kicked in and he can't afford it. I wonder if he reads his player contracts as well as his loan docs. Oh, he makes $1.7 million per year and will be calling on the government for a mortgage bailout. This might be my most nauseating celebrity real estate situation yet.



I take that back... The most nauseating celebrity housing problem definitely goes to Slash. He purchased his Hollywood Hills home for $6.2 mil in 06' and just sold it for $5.7 mil. After selling, Sir Slash decided he paid too much. He decided to sue his real estate agent. His reasons? He's said the home wasn't described properly. He also said it was too small with not enough privacy. Perhaps the hat, hair, sun glasses and cigarette smoke impaired his judgment, but did you NOT see the home before you purchased it and then lived in it for two years?



**Note, any of the above following celebrities Googling their name and finding this, feel free to update us. Also, if you're expecting a baby, had lunch with Britney or are planning on checking yourselves into rehab, please comment below. Afterall, many average Joes are influenced by what you do and the decisions you make. Some of your lavish lifestyles have pushed people into purchasing more than they can afford and trying to mimmick your good choices. Look foward to hearing from you!