Burt Reynolds Facing Foreclosure


Burt Reynolds Facing Foreclosure

Merrill Lynch Credit Corporation has sued Burt Reynolds over his Florida home. According to the lawsuit, the 75-year-old actor is behind $1.2 million on the mortgage for his home in Hobe Sound, Florida. Reynolds has not made a payment on the home since September 2010. BankAtlantic holds a second mortgage of $750,000 on the home and was also named in the lawsuit. Reynolds’ Florida home is 12,500 square feet and is valued at $2.4 million. The actor attempted to sell the home in 2009, listing the property at $8.9 million. However, a poor housing market and high asking price made it difficult to sell the home.

The foreclosure suit is not the first time Reynolds has faced financial difficulty. In the 1990s, Reynolds filed for Chapter 11 bankruptcy after a divorce and poor career and investment choices. Reynolds also owns a home in Little Rock, Arkansas. He is currently filming a made for TV movie.

 

Source:

Tim Kenneally, Burt Reynolds Slapped with Foreclosure Lawsuit over Florida Home, https://movies.msn.com/movies/article.aspx?news=664577&GT1=28101 (accessed August 18, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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