Nicolas Cage Foreclosure

April 9, 2010
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I have to admit I am not shocked to hear about the Nicolas Cage foreclosure news, as we have all become accustomed to hearing about his financial problems. See more details about the latest issue below, including more photos and a video.

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Last year we heard about the actor being broke and suing his financial advisor. Then a few months later he was being sued by his ex. Now his Tudor mansion in Bel-Air was seized and was not a popular auction item.

A few years back the house was put up for sale with a price tag around 30 million by Nicolas Cage. Foreclosure, however, was how the house ended up. Though massive, the house didn’t seem to be a huge hit, and real estate agent Bret Parsons had some guesses why.

“The design was ‘frat house bordello,’ ” Parsons said. “There must have been 300 comic book covers elaborately framed and hanging on the walls.”

This pattern of celebrities over spending is not necessarily a new one. And though the stars are usually the lasts to get hit by a mortgage crisis, they are feeling it especially with all their other spendings. And many have blamed this specific actor’s finances on his elaborate spending.

Whether he wants to blame it on his advisor or not, he should have been able to see where all this lavish spending was leading. This article describes many of the extravagant ways he used his wealth.

I wonder how this will all end up and how the once highest paid actor will be going forward. Let me know your thoughts below, and check out some photos here. Also don’t miss this clip from ‘The Family Man’ which some say was either what he wanted to say to his financial advisor, or at least inspired it.

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Photos: Meszler, Apega/Agent47, Shaun Bailey, Apega

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