Nicolas Cage Foreclosure
Our recent article, Celebrity Foreclosures 2011, went viral so we decided to give you a little more juice on the Nicolas Cage foreclosure. Nicolas Cage made over $20,000,000 for just three movies out of the dozens of others he has starred in over the years, but that still wasn’t enough to compensate his insatiable taste for houses, cars, and even dinosaur bones! The Nicolas Cage foreclosure earlier this year snatched up his luxurious mansion in LA. Thats just a taste of his repossessions, by now he knows the repo man on a first name basis.
Nicolas Cage Foreclosure | To Live and Die in LA
So lets start out by addressing the Nicolas Cage foreclosure that occurred in February of this year. Here’s what Global Property had to report on the Nicolas Cage foreclosure:
Nicholas Cage. Premiere actor Nicholas Cage lost his $35-million LA property to foreclosure. Citibank, early this year, confiscated this property located in Copa de Oro Road, Los Angeles, California because of a financial manager’s mismanagement.Mr. Cage, according to Forbes.com, was forced to sell four properties in order to pay tens of millions owed in government taxes.
We’re not sure of the status of Miz Fulton’s lawsuit or if some agreement was reached outside the courtroom but we do know thatMiz Fulton had to pack her bags and get out of Dodge. Property records reveal that on the 15th of September 2010 a third and final Notice of Default was filed and recorded and, according to foreclosure database RealtyTrac, on the 10th of February 2011 the Hancock Park property was officially snatched back by Cage’s creditors with about $2,900,000 owed on the spread.
Nicolas Cage Foreclosure | Lifestyles of the Foreclosed
Although as real estate gurus we are much more interested in the Nicolas Cage foreclosure than anything else. The rest of his ridiculous estate might just help to paint a picture of how he got himself in this mess in the first place.
Mister Cage claims he was led down the financial garden path by a business manager who mismanaged his money. Be that as it may or may not be, Mister Cage was a notoriously prolific spender who all but tossed his money out the window on amyriad of non-necessities such as a collection of 30-50 cars, a couple big boats, a Gulfstream jet, a dinosaur skull, a zoo’s worth of exotic pets and lavish residences around the world.
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At one time in the not so distant past Mister Cage’s property portfolio bulged with at least a dozen posh and pricey properties across the globe including (but not limited to) a Bavarian schloss, a 14th-century English castle, a private island in the Bahamas, a multi-unit combo condo in Midtown Manhattan, a ranch in Malibu, an historic estate in Middletown, RI, a turn of the century mansion in San Francisco, a bloated mansion in a gated enclave in Las Vegas, NV, and a harbor front mansion down behind the Orange (County) Curtain in Newport Beach, CA.
http://realestalker.blogspot.com/2011/02/more-nic-cage-foreclosure-news.html
Nicolas Cage Foreclosure | Conclusion
Non-necessities? No way! We all need at least one dinosaur skull in our estate, everybody knows that. Okay so maybe his financial advisor lead him astray, but did he make him sign the check for 30-40 cars and the dinosaur skull? Come on Nic! This Nicolas Cage foreclosure goes to show you that banks don’t discriminate, no exceptions for Mr. Con-Air.
Image attribution: http://www.chud.com/20645/now-you-can-see-nicolas-cage-overact-in-3d/
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