Celebrity Foreclosures

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Stephen Baldwin is perhaps the latest Hollywood celebrity to fall into foreclosure trouble, according to an Associated Press report.

Court records indicate that the recently ousted contestant on NBCs, “I’m a Celebrity … Get Me Out of Here!” reality television program and his wife, Kennya, have defaulted on more than $824,000 in mortgage payments to their lender, Bankers Trust Co.

As a result, their 1.4-acre Old Mountain Road home in Rockland County, N.Y., which the couple purchased for $515,000 in 1997, is scheduled to go up for public auction on June 24, 2009.

The good news is that Brad Taylor, Baldwin’s representative, told People.com shortly after the report surfaced that the family will more than likely not lose the home to foreclosure when all is said and done.

Here’s a snip:

“Stephen is presently going through a legal situation regarding his mortgage and that situation is still in process. No auction will be happening and all things related to this matter are being handled by his legal representation.”

Baldwin, 43, is the youngest of the famous Baldwin brothers. The actor is perhaps more well known for his recent exploits on the reality television circuit rather than his roles on the silver screen, appearing in “Celebrity Mole Hawaii,” “Ty Murray’s Celebrity Bull Riding Challenge” and “Celebrity Apprentice.”

We’ll be sure to keep you posted on the status of Baldwin’s developing foreclosure situation. In the meantime, check out several other celebrity foreclosure-related stories in our archive right here.

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Taking a page out of her late father’s playbook, Victoria Gotti has found a way out of trouble … albeit a very different kind of trouble.

The daughter of the notorious Gambino crime family boss, John Gotti, was facing foreclosure on her six-bedroom Long Island mansion in Old Westbury, N.Y., which was the setting for Growing Up Gotti” — a popular reality series that aired on A&E.

She owed her lender, JP Morgan Chase, about $650,000 and had not paid her mortgage in more than two years, citing financial turmoil that stemmed from divorcing ex-husband Carmine Agnello. That should perhaps come as no surprise, considering Agnello still owes the federal government about $7 million as the result of a racketeering judgment against him back in 2001.

So Gotti and government officials recently struck a deal under which she would purchase 11 commercial properties that were were once owned by Agnello, according to the New York Daily News. She will now be responsible for selling the properties to pay off the outstanding balance on her mortgage, as well as help satisfy Agnello’s debt.

This latest development is hopefully the final chapter in a foreclosure-related story that dates back to 2005.

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Victoria Gotti — the daughter of the notorious late Gambino crime family boss John Gotti — recently received bad news about the status of her six-bedroom Long Island mansion in Old Westbury, N.Y., which is situated on six acres in an “exclusive enclave.”

NYDailyNews.com has the scoop:

“[Gotti] owes JPMorgan Chase about $650,000 and hasn’t made a payment in two years…. A four-judge panel of the Brooklyn Appellate Division has granted the lender’s motion for summary judgment on the foreclosure….”

The reason provided for the default is that Gotti has been mired in a messy divorce from ex-husband Carmine Agnello who, according to the report, has failed to pay court-ordered child support for their three children. In addition, Agnello allegedly took out a $856,000 loan against the home several years ago and stuck Gotti with the bill without her knowing about it.

Here is her take on the situation:

“I won a house that was a booby prize riddled with debt…. [Agnello] still owes the federal government nearly $10 million and yet they still allow him to live this way?”

This is not the first time Gotti has faced foreclosure on the home — back in 2005 she agreed to pay the bank “$50,000 up front and $25,000 a month” to rescue it from repossession. Those payments, however, did not last long.

Aside from being John Gotti’s daughter, Victoria is perhaps best known for her role on “Growing Up Gotti,” which was a popular reality series that aired on A&E that followed her hectic life, raising and dealing with her three teen-aged sons, Carmine, John and Frank. The show was canceled in 2005.

Gotti — who was also a gossip columnist at the New York Post and for Star magazine — has been trying to sell the home for several years for about $3 to $4 million. She has not had much luck, but that will hopefully change soon before losing it altogether.

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Popular rapper and host of MTVs “Pimp My Ride,” Xzibit, has failed to pay more than $21,000 in mortgage payments and is now in jeopardy of having his Woodland Hills, Calif., repossessed by the lender.

TMZ.com reports, however, that the possible foreclosure action could be the least of his financial concerns.

Here’s a snip:

“In addition to nearly losing his home in Woodland Hills, California — it was reported last week that the IRS filed a $205,485 lien on X in L.A.County for non-payment of his 2007 taxes, and yet another one for an additional $296,355 for 2006.”

Alvin Joiner (his birth name) has been a fixture on the rap scene ever since his first album, “At the Speed of Life,” dropped in 2006. He has been able to parlay that success to the silver screen, appearing in several movies, including “Full Clip,” “Derailed,” “Hoodwinked” and “Gridiron Gang,” among others.

To check out other celebrity foreclosures on Foreclosure.com click here.

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Ray Nagin — the passionate and often controversial 60th Mayor of New Orleans, La. — is in danger of losing his “vacation home,” which is located in a Dallas, Texas, suburb, to foreclosure, according to the Wall Street Journal.

Nagin — who is perhaps best known for his handling of the epic Hurricane Katrina disaster in 2005 — purchased the property, valued at $182,000, as a “hurricane home.”

Court records indicate, however, that Nagin has failed to pay the Homeowner’s Association (HOA) fees on his 1,700-square-foot home in Frisco. It is expected to be put up for sale at a public auction on April 7, 2009, if the lien issued by the HOA is not resolved in the next few days.

The good news is that the report indicates Nagin intends to resolve the matter “shortly.” The clock is ticking … the auction is little more than three days from now.

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