Gone In Sixty Seconds -- Bank Forecloses On Two Of Nic Cage's Homes
Nov. 13 2009, Published 12:38 p.m. ET
Superstar Nic Cage has been hit by the credit-crunch just like millions of other Americans after a bank snapped up two of his New Orleans homes at auction.
Regions Bank paid $2.3 million for Cage’s 10,300 sq ft property the LaLaurie mansion – the same bank also paid $2.2 million for the actor’s 13,200 sq ft mansion on Prytania Street.
The bank had foreclosed on the properties for unpaid mortgage debts with the auction being hosted by the Orleans Parish Civil Sheriff’s Office.
In July, the Internal Revenue Service placed liens on the star’s New Orleans homes for $6.6 million in unpaid taxes.
The Academy Award winning actor and nephew of director Francis Ford Coppola has been trying to sell homes around the world at a time when high-end property prices have fallen dramatically.
Last month, he finally sold his Bel Air mansion – which was also owned by Tom Jones and Dean Martin – for between $10 and $15 million after originally putting it on the market for $37 million back in 2007.
The Gone In Sixty Seconds star has been cutting back on his one-time booming property empire by also selling a Bavarian castle that he used to own and mansion in Bath, England, also.
The one time high-spending actor is said to be reassessing his finances so he can pay off a string of tax bills dating back to 2007.
Cash-Strapped Cage Selling Bavarian Castle
Cage has blamed his financial woes on former business manager Samuel Levin who he is currently suing for $20 million in damages.
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