Florida Virtual Houses

It’s Not Just Ed McMahon

June 27th, 2008

Is that a swimming pool in front of the Pentagon? Nope. It’s boxer Evander Holyfield’s old Atlanta estate and it has joined the growing list of celebrity homes going into foreclosure.

Thanks once again to the financial trade publication Investment News for this story. We’ve all heard about Countrywide starting foreclose proceedings on its $4.8 million loan on Ed McMahon’s house. The Beverly Hills estate is still listed at $6.5 million.

Other celebrity homes in foreclosure include Holyfield’s $10 million property which he lost in May. Baseball slugger Jose Canseco’s $2.5 million house in suburban Los Angeles. And homes owned by Rep. Laura Richardson and football player Adam “Pacman” Jones.

Actor Dustin Diamond, best known for playing “Screech” on Saved by the Bell sold T-shirts on his Web site and made a pitch to fans for money on the Howard Stern show. That saved his home.

Then there’s the saga of Michael Jackson who avoided foreclosure on the Neverland Ranch only because distressed debt investor Tom Barrack bought the $24 million loan. Barrack is now negotiating to feature Jackson in one of his casinos as part of a restructuring plan.

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