LOS ANGELES – A Bel-Air palace owned by Nicolas Cage has found no takers in the foreclosure auction.
The opening bid for the actor's 12,000-square-foot home was $10.4 million, though there are $18 million worth of loans on the property.
The Tudor palace boasts 6 bedrooms, the central tower, home theater as well as an Olympic-sized pool. The residence reverted to the foreclosing lender at Wednesday's auction in Pomona.
Even though he's one of Hollywood's highest-paid stars, Cage has income troubles. He owes millions in delinquent taxes as well as in Jan his foreclosed home in Las Vegas sold for scarcely $5 million.
Cage sued his former commercial operation manager in Oct for $20 million, claiming the man's advice led him toward monetary ruin. The ex-manager says Cage is the spendthrift.
___
Information from: Los Angeles Times, http://www.latimes.com
No comments:
Post a Comment