Burt Reynolds Seeks Deliverance From The Evils Of The Foreclosure Crisis

Is no one safe from the foreclosure crisis?  Various news outlets are reporting that Burt Reynolds is on the verge of losing, not the Best Little Whorehouse In Texas, but his Florida mansion to the bank (click here, here, here, and here for stories).  Apparently, the bank is looking to pull down the Evening Shade on the actor because he has not made a mortgage payment since September 2010 and owes approximately $1.2 million on a home valued at $2.4 million.  (For those of you who are curious, the house has a swimming pool, private beach, boat dock, cinema and, of course, its own hair salon.)  Reynolds has enjoyed many Boogie Nights in the property and on its Longest Yard since he purchased it for $1.5 million in 1994.  However, Smokey now appears to have caught up with the Bandit and Reynolds finds himself in the Sharkey's Machine like so many other residents navigating through foreclosure in Florida.  Unless there is another Cannonball Run sequel in the works, it looks like Reynolds may find himself Starting Over in a new home.

View more from the Porzio Real Property Blog.

We welcome and encourage your comments below.  Also, please subscribe to the Porzio Real Property Blog to keep up with the latest news and information about New Jersey land use, real estate, and environmental issues.

....

Lexis.com subscribers can explore/search Real Estate Law resources on Lexis.com or access any of these Mathew Bender Real Estate Law publications:

Non-subscribers can purchase Property Law treatises/resources and Mathew Bender publications from the LexisNexis Bookstore

Non-subscribers can purchase Real Estate Law treatises/resources and Mathew Bender publications from the LexisNexis Bookstore

For more information about LexisNexis products and solutions connect with us through our corporate site.