123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Entertainment >> View Article

Burt Reynolds Set To Lose Florida Property

Profile Picture
By Author: Rebecca Smith
Total Articles: 151
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Burt Reynolds was once one of Hollywood’s highest paid and well-known actors. But now, at the age of seventy five, the “Deliverance” star faces losing his Florida home as his debts continue to grow.

On the 1st September 2011 Merrill Lynch Credit Corporation filed a foreclosure lawsuit in Martin County against the “Smokey and the Bandit” star. The suit claims that mortgage payments have not been paid on his 1,115 m2 property in Hobe Sound, Florida since 1st September 2010.

"The Plaintiff [Merrill Lynch Credit Corporation] must be paid US$1,193,808 in principal on the mortgage note and mortgage, together with interest from August 1st 2010 and all costs and reasonable attorney's fees," noted the writ.

Reynolds and his former wife Loni Anderson signed up for a US$1.5 million mortgage on the five bedroom property in May 1994. The mortgage was due to be paid off in 2019.

In 2009 a local US newspaper reported that Reynolds had put the five bedroom, waterfront property, which he nicknamed “Valhalla”, on the market for US$8.9 million.

Although it boasts a swimming pool, a gym, a wine ...
... room, a hair salon, seven bathrooms, a boat dock and a helipad, the property failed to sell.

Reynolds blamed the US economy and the property market crash as the main reasons. But a recent assessment, carried out by Merrill Lynch, valued the property at just US$2.4 million.

However, the actor is hoping to get back on track and is staying positive amid allegations surrounding his current finances.

"I am as surprised as everyone. I thought my career and my life could not be going better. To all of the people who have had such faith in me and stuck by me through thick and thin, thank you. I know it is not the end of the world. There are a hell of a lot of other people worse off than I am, and my heart goes out to them. I will do like I've always done, keep my head up high and continue to move on down the road" Reynolds said in a recent interview with ABC News.

Recently Reynolds began filming a new made-for-television movie “Reel Love” starring country singer LeAnn Rimes and Shawn Robert in Toronto, Canada.

The straight to television film is due to premiere on US channel Country Music Television (CMT) later this month.

Article source - http://blog.oceanvillasgroup.com/burt-reynolds-set-to-lose-florida-property/
Rebecca Smith is a real estate journalist and author with over 15 years’ experience. She has published 3 books to date:

'The Definitive Guide to buying property in Thailand'
http://blog.oceanvillasgroup.com/the-definitive-guide-to-buying-property-in-thailand/

'10 simple ways to slash your marketing costs and sell more property'
http://www.ovgmarketing.com/10-simple-ways-to-slash-your-marketing-costs-and-sell-more-property/

'The Definitive Guide to buying property in Phuket'
http://blog.phuketoceanvillas.com/the-definitive-guide-to-buying-property-in-phuket/

Rebecca is currently the sales director for Ocean Villas Group and Phuket Ocean Villas.

Total Views: 1740Word Count: 451See All articles From Author

Add Comment

Entertainment Articles

1. The Best Cappuccino Maker For Your Home
Author: Ashish

2. Miami's Hottest Parties: Dj Leo Pineda And The Dazzling Led Robots
Author: NytroMen Group

3. Temple Run 2: The Ultimate Guide
Author: Jim Henderson

4. What Exactly Is Iptv? Realizing The Ongoing Revolution In Digital Media
Author: Supreme IPTV

5. The Big Picture: 2024's Bollywood Latest Collection Report Card
Author: Arav

6. Tiktok's Biggest Trends Right Now
Author: Rushi Joshi

7. The Digital Shayar: Delhi’s Premier Open Mic Platform For Creative Souls
Author: Digital Shayar

8. The Digital Shayar: The Best Poetry Open Mic Event In Delhi
Author: Digital Shayar

9. The Digital Shayar: The Best Poetry Open Mic Event Organizer In Delhi
Author: Digital Shayar

10. How To Find The Best Dstv Installer Near Me For A Seamless Viewing Experience
Author: capesat-installers.co.za

11. Massage Spa In Bronx
Author: amelia chorlette

12. Hip-hop Artist Zanda Elwood Debuts Amongst Da Khaos: A Raw Journey Of Mental Health And Resilience
Author: Zanda Elwood

13. Ultra Bright Professional Wuxga Laser Projector
Author: Optoma India

14. Tiktok Video Downloader Websites: How They Work And What You Need To Know
Author: Agung Das

15. Elevate Your Virtual Corporate Events With Singapore’s Finest Entertainment
Author: TK Jiang

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: