May, 2010
Academy Award winner actor Nicolas cage has been the talk of the town lately, not because of his any forthcoming movie but his property’s foreclosures in the recent past. Nicolas cage has acted in several popular movies like ‘Adaptation’, ‘The Rock’, ‘National Treasure’ and ‘Leaving Las Vegas’. The actor had built several properties of worth over millions scattered all over the world. But the huge number of properties owned by the actor is now reducing gradually.
Nicolas Cage purchased a home in Las Vegas in 2006 for a huge sum of $8.5 million. It was a palatial structure built across fourteen thousand square foot having 16 car garages, seven bedrooms, a home theatre, an elevator and each window gives a beautiful view of the city of Las Vegas. This home also has a spa in addition to a big private pool and at the same time ensures privacy as it is situated in a gated community. This home that once belonged to Nicolas Cage is now owned by bank due to foreclosure. In the month of July of year 2008, Cage listed this home for $9.95 million but later discounted it at $9.49 million. When the property was foreclosed, the price was discounted even more to the then prevailing Las Vegas property prices and was finally sold for $4,950,000.
After that, Nicolas’ various homes in New Orleans were also foreclosed and were sold to the bank for about $4.5 million. His property in Rhode Island is soon to be sold with an asking price of $12 million quoted by him.
Recently, Cage also lost his property in California to the lender because it failed at a public foreclosure. This property was spread across 11,817 square feet having six bedrooms and nine bathrooms. The public foreclosure auction for this property was apparently lacked enthusiasts to purchase the property. Cage had initially asked a price of $35 million but no one in the auction attendance was ready to pay even $10.4 million for the property. Though it was a beautiful and superb home at a preferable location, zero takers for it came as a shock to everybody.
Nicolas Cage’s financial woes are many. He has been through property foreclosures for his homes in Las Vegas, Los Angeles, California, Nevada and New Orleans. Cage clarifies that his financial troubles are shooting up due to ‘n incompetent business manager’.
Nicholas could have been out of all this mess and chaos by hiring our services for short sales of luxury homes, avoiding foreclosures and losing his properties to the lenders. We believe in making our customers well informed about the various issues related to foreclosures of luxury homes and help them in taking informed decisions after weighing all the pros and cons.
We offer expert advice and help for your properties sale and avoiding foreclosures that originates from our real estate knowledge. We also offer privacy for all the deals without any public exposure. This way your information is confidentially kept safe with us. Professional and confidential proceedings are what we guarantee to our customers.
Category : Avoiding Luxury Foreclosures &Bell Air &Celebrities &Headlines
Late Ed McMahon, who died at the age of 86 last year, was a renowned Television actor who featured in ‘The tonight Show’ as Johnny Carson’s sidekick. He also hosted ‘Star search’. The famous actor was entangled in property and finance woes. Ed McMahon started facing foreclosure problems for his home within a short time of its purchase. In the year 1990, he purchased a home in Beverly Hills for $2.6 million and had it in the market for some years. In 2006, he saw the latest listing price for his home at $7.699 million. At that time he decided to sell it off but he was falling short of payment by $644,000 on a $4.8 million mortgage loan. Moreover, there were few takers for his home because Britney Spears’ home was in the neighborhood and attracted many media persons; this was a turn-off for most of the buyers.
His property was facing a risk of getting foreclosed. In the month of August, year 2008, a real estate tycoon Donald Trump declared that he will purchase Ed McMahon’s home from the financial company and lease it back to the actor to avoid foreclosure. To avoid a foreclosure on his home, McMahon instead entered into a deal with a private dealer whose offer fell through in early September. Then Donald Trump renewed his offer again to Ed McMahon to purchase the Beverly Hills home.
Ed McMahon was among the initial celebrities to in recent past to go through the public foreclosure. Hi financial defaults amounted to almost five million dollars as outstanding loans. Donald trump finally purchased his home and leased it back to him as a gesture of courtesy. All this time, his home was in the market for about two years. The case of Ed McMahon is considered as a classic example for celebrity home foreclosures. Many critics to this case believe that McMahon had spent a lot more than he could have afforded and that is why he was indebted to such an extent.
The long time that is involved in this case not only posed a threat to his brand name but also caused a great amount of mental tensions and worries to him. A professional was all he could have gone for. Hiring our services for short term sales to avoid foreclosures will solve your financial indebtedness problems quickly and with a great degree of secrecy about the whole transaction. Not every one is lucky to get help from sudden and unexpected sources like McMahon. Hiring our professional services to avoid foreclosures of your homes sounds a smart option.
Losing your home to a lender due to shortage of credit for the loan repayment can cause humiliation to person specially if he is a renowned person in his own field. Our short sale services not only saves your home from going back in the hands of the lender or the bank but also offers you confidentiality and no public exposure of the transaction. Save your name and your home by hiring our expert services.
Category : Beverly Hills &Celebrities &Luxury Short Sales