CORAL GABLES (LALATE) – The mansion Burt Reynolds bought during his marriage to Loni Anderson is facing foreclosure. Loni Anderson and Burt Reynolds moved into the house in the 1990s. Two years later, Reynolds suffered a Chapter 11 bankruptcy. Reynolds was able to rebound and keep the house. But now, Reynolds’ lender claims he hasn’t made mortgage payments since 2010. So it has filed to foreclose against the mansion Reynolds calls “paradise”.
Merrill Lynch Credit Corp. claims Reynolds hasn’t made a payment on the massive 12,5000 mansion since September of last year. The estate’s appraised value by the local tax assessors’ office is $2.4 million. Reynolds, 75, attempted to sell the mansion in 2009 for $8.9 million. He reportedly had no offers near his listing price.
The Mediterranean mansion boasts a waterfront setting across four acres. Reynolds reportedly bought the mansion for $1.5 million in 1994 with a 25 year mortgage. The lender claims the current mortgage payments are substantial.
Reynolds issued a news statement to ABC News indicating that he was surprised by the lawsuit. âI am as surprised as everyone.â He added âI thought my career and my life could not be going better. To all of the people who have had such faith in me and stuck by me through thick and thin, thank you. I know it is not the end of the world.â
Burt Reynolds, Celeb Homes