Rating 4.6

Rich and Famous Foreclosures

Seems like foreclosures are not just happening to those trying to make end meet, even celebrities and other rich and famous people are going through the proceedings. The local San Antonio movers learned wide receiver Terrel Owens has faced foreclosure on five homes around the U.S. The athlete who parted ways with the Dallas Cowboys three years ago has defaulted on four condominiums in the Dallas area. One of them was sold in a short sale for $1.4 million this past November. The All My Sons of San Antonio learned that another unit was repossessed by the bank for $293,699 and another one for $311,595. Terrel Owens has another place he called home in the Trump Towers in Sunny Isles, Florida that was sold in a short sale for $1.65 million.

The latest figures boast 4 million homes were foreclosed on in the past five years with about 192,000 in the foreclosure process as of July 2012. The San Antonio movers found out that from 2007 to 2011, foreclosures of homes worth more than $1 million rose by 489% versus 105% on properties less than a $1 million. Comedian Chris Tucker is another famous person facing foreclosure problems. The Sun Trust Bank is saying the "Rush Hour" actor owes $4.4 million on a 10,000 square feet mansion in Lake County, Florida. The comedian bought the place for $6 million. The mansion sold for $1.7 million. The local San Antonio found out Burt Reynolds also faces foreclosure on his waterfront home in Florida complet with a yacht dockage and helipad. The famous actor hasn't paid his $1.2 million mortgage since September 2010. The property is now in foreclosure.

Former heavyweight boxing champion Evander Holyfield just lost his estate, a colossal 54,000-square foot mansion that JPMorgan Chase took ownership of for $7.5 million. Evander Holyfield owned over $14 million. The property has 109 rooms, a bowling alley, a home theater and costs about $1 million to maintain. Some celebrities default on purpose, to limit their losses. Take for example superstar Rihanna who earned $53 million this year. Her $6.9 million Beverly Hills house was a short sale, selling for $5 million this past January.

Are you in foreclosure proceeding yourself? Do you need to move out of your place. Call the local San Antonio moving specialists for professional moving services at a great moving quote. We'll quit pad wrap your furniture and take care of all the moving details.