Burt Reynolds’ Mediterranean-Style Florida Home Property On The Brink Of Foreclosure
Hollywood legend Burt Reynolds is currently facing a lawsuit versus Merrill Lynch Credit after a bank is informing the Hollywood star about his Florida property to be foreclosed soon due to mortgage concerns amounting up to $1.2 million.
Merrill Lynch Credit, Great Eastern Mortgage and Bank Atlantic, the officiating lender of the Emmy Award-winning TV personality have claimed that the last payment that was received from Burt Reynolds was on August of 2010 – as he has not made a payment in Sept. 1, 2010 on his exclusive 12,500 square feet Mediterranean-style home property.
The Hollywood star’s original plan is to sell the luxurious home property at $8.9 million in 2009 – but due to the economic struggles and financial uncertainties, the property did not face much exposure and there were no interested buyers at the time.
Now that Merrill Lynch Credit is has recently filed a request to the judge handling the case to just sell the home property to Satisfy Debts for $2.4 million since it has already been a year since Reynolds’ last payment.
On the other hand, Burt Reynolds was surprised to hear that he has a lawsuit filed for him according to his publicists just this Wednesday. According to him, things cannot go any worse for him as he is still in his prime and that there are other people who are worse than his current state and his heart goes out to these people.