Hollywood superstar Nicolas Cage owes the Internal Revenue Service (IRS) more than $6 million in unpaid back taxes, according to People.com.

In addition to being an “A-list” actor, Cage is a prolific real estate collector. He owns multiple properties in Los Angeles, Calif., and Las Vegas, Nevada, as well as others in major cities such as New York, New Orleans, San Francisco and elsewhere.

However, he now has two outstanding tax liens attached to the portfolio — one that dates back to 2007 and another from 2002.

Cage actually sold a 28-room castle, Schloss Neidstein, which sits on 395 acres of forest in the Oberpfalz region of Bavaria, Germany, earlier this year because of what he described as a “difficult economic situation.” He is also reportedly shopping a $7 million island in the Bahamas.

The 45-year-old Academy Award winner was recently ranked 45 on “The 2009 Celebrity 100″ from Forbes.com, earning an estimated $40 million from June 2008 to June 2009.

More good news coming from the Foreclosure.com Community Expert Program (CEP).

We’ve already detailed several testimonials from busy, profit-earning CEP agents here, here, here and here. Today we have more positive experiences to share below from satisfied members of our nationwide network.

Our formula for success is as simple as 1, 2, 3:

1. Get noticed — Thousands of buyers search for properties in your area and recognize YOU as their go-to person.
2. Get connected — Buyers connect with YOU as a real estate expert. Calls and emails start pouring in.
3. Close deals — Build relationships today and close the deals tomorrow. Earn more money.

CEP is straightforward and effective. No nonsense, just solid leads from motivated buyers.

On the flip side, buyers benefit from knowledgeable and helpful real estate professionals who all go the extra mile to ensure total client satisfaction.

It’s the perfect real estate tool.

But enough of that, let’s hear what the latest batch of agents have to say about our CEP:

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“Making Home Affordable” was introduced earlier this year to reduce the alarming amount of foreclosures in the United States.

The $75 billion program provides mortgage lenders with financial incentives to reduce the amount that distressed homeowners owe on their principal home balances, which in turn reduces their monthly payments. It’s a plan that is designed to short circuit the foreclosure process before it begins.

Today, the Obama administration announced the program’s first milestone — banks have so far signed up more than 500,000 borrowers who need to re-work their mortgages. The good news comes three weeks earlier than expected because the deadline to hit a half-million was set for Nov. 1, 2009, according to the Washington Post.

Here’s a snip Shaun Donovan, secretary of the Department of Housing and Urban Development, on the progress:

“We’re very pleased to have reached this goal of half a million borrowers almost a full month ahead of target, but we obviously have a lot more to do.”

Donovan is making reference to the program’s ultimate goal of helping 4 million borrowers by the end of 2012. It’s a lofty and certainly noble goal.

However, the big concern is whether or not the loans that are modified will be sustainable, meaning the homeowners do not find themselves in distressed situations again down the road.

Only time will tell.

To learn more about Making Home Affordable and determine whether or not you can refinance your home mortgage click here. The official “Making Home Affordable” Web site can be found right here.

Five states, six days.

This weekend signals the start of huge opportunities for house hunters and investors in the Illinois, Indiana, Kentucky, Missouri and Ohio markets looking to take advantage of the best real estate deals in their areas.

REDC, one of the nation’s most reputable and successful real estate auction companies, will conduct public foreclosure sales from Saturday (Oct. 10) through Thursday (Oct. 15).

That’s right: Six consecutive days of super sales on condominiums and townhomes, as well as single- and multi-family properties.

All told, 342 properties combined must be sold in less than one week. It’s the reason bids can start as low as $500 — everything must go!

Here are the locations (For complete details click here):

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WMBF News today put together a nice punch list of things that homeowners today “need to know” before buying a foreclosure … or any other type of home for that matter.

Check it out:

1. Double-check your credit — Check your credit report immediately to be sure it does not show any incorrect information.
2. Talk to lenders — Check rates and offers from several mortgage professionals to find one you with whom you want to work.
3. Home prices are still low — Now is an excellent time for a home investment.
4. Interest rates are still good — Mortgage interest rates have dropped again to about 5 percent annually.
5. You must have savings — A down payment is essential today.
6. Know all costs of ownership — A rule of thumb is to budget 1 percent of the home’s purchase price per year for upkeep.
7. Buyer beware — Invest in a home inspection before agreeing to purchase any home.

Foreclosure.com currently features more than 2 million distressed real estate listings in its nationwide database, including preforeclosures, foreclosures, Sheriff sales, bankruptcies, tax liens, auctions and much more. In short, we have a house for everyone … at the most affordable price.

So use the tips above, search our Web site for the best deals in your area and live your own American dream while the conditions are in your favor. Opportunities like this don’t come around very often.

To search for homes and other cheap real estate deals — often up to 50 percent off — right now click here.