Rich and Famous Hit with Foreclosure

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Not too long ago, celebrities were living it up – buying lavish cars, expensive toys, and over-the-top homes. But with the goods times over, many celebrities are facing insufficient cash flows, and mortgages worth more than what their homes are currently worth. Now, they’re losing it like everyone else.

Among the list of celebrities facing foreclosure are former baseball star Jose Canseco, Roc-A-Fella Records co-founder Damon Dash, and Michael Jackson – who escaped foreclosure on his $25 million Never Land Ranch by taking on an additional loan which he plans to pay by coming out with new music and touring.

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