Two New Orleans homes owned by actor Nicolas Cage were sold at
foreclosure auction for a total of $4.5 million.
New Orleans Civil Sheriff Paul Valteau said Regions Bank
based out of Birmingham, Ala., made the only bids on the two homes, purchasing
Cage's French Quarter home for $2.3 million and his Pataniya Street property
for $2.2 million. The French Quarter home (which Cage claimed was the “Most Haunted
House in America”) was appraised at $3.5 million and the Pataniya Street home
at $3.3 million.
The auction came amid significant financial troubles for
Cage, 45, including $5.5 million the Ghost Rider star owes in mortgage payments. Cage, who also owes $151,730 to the city of New Orleans in real estate taxes, has
blamed his troubles on his former financial manager, Samuel Levin.
On July 14, 2009, the Internal Revenue Service filed documents in New Orleans in connection
with a federal tax lien against
property owned by Cage in Louisiana, concerning unpaid federal taxes.
The IRS alleges that Cage failed to pay over $6.2 million in federal income tax
for the year 2007. In addition, the IRS has another lien for more than $350,000
in unpaid taxes dating from 2002-04.
Cage filed a $20 million lawsuit on Oct. 16, 2009,
against Levin, alleging negligence and fraud. The lawsuit states that Levin
"had failed to pay taxes when they were due and had placed [Cage] in
speculative and risky real estate investments 'resulting in (the actor) suffering
catastrophic losses'."
Homes Cage owns in California and Nevada also face
foreclosure auctions.
Location: SinglePost
Be the first to rate this post
- Currently 0/5 Stars.
- 1
- 2
- 3
- 4
- 5