Actor Nicolas Cage just another victim of growing foreclosure epidemic
posted on 11/17/09 in Foreclosure, Real life Stories
Movie star Nicolas Cage has become the latest high profile victim of America’s housing crisis, losing two historic homes to foreclosure last week in New Orleans. The French Quarter homes were purchased by Cage’s lender and sole bidder, Regions Bank in a foreclosure auction Thursday. According to People Magazine, the houses went for $4.5 million – about two-thirds the appraised value. Cage, whose next film Bad Lieutenant: Port of Call New Orleans comes out this month, has been selling off homes in Los Angeles, Las Vegas and Rhode Island to pay off a $6 million federal tax lien.
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