Nicolas Cage financial problems continue with foreclosure in Las Vegas
This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.” Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million. The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was [...]
This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.”
Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million.
The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was repossessed by the lender in Dec. 2009 when Cage failed to meet his mortgage obligations.
Cage, unfortunately, is no stranger to foreclosure lately.
In Nov. 2009 he walked away from two million-dollar homes in New Orleans, La., for “unpaid mortgage debts.” In addition, there was a home in California that was also reportedly seized.
Cage — was recently ranked 45 on “The 2009 Celebrity 100″ from Forbes.com, earning an estimated $40 million from June 2008 to June 2009 — has attributed his recent financial troubles on “an incompetent business manager.”
He admits that he currently owes the Internal Revenue Service (IRS) about $14 million in back taxes. Throughout his illustrious acting career Cage says he has forked over at least $70 million to Uncle Sam.
For more on Cage, including his other brush with foreclosure and vast real estate portfolio, click here. Remember to also check out our comprehensive “Celebrity Foreclosure” archive right here.
