You Can't Ghost Ride Your Way Out Of Foreclosure!!!
In recent celebrity news, Nicolas Cage has found himself as being in the midst of a financial meltdown. This article found on CNN.com shows that nobody is immune to this recession...movie star or not!
This past Thursday Nicolas Cage had 2 of his New Orleans homes get auctioned off to the highest bidder due to their foreclosure status. He essentially lost $6.8 million on those 2 home alone. This article states, "Birmingham, Ala.- based Regions Bank purchased Cage's 1140 Royal Street property in the French Quarter appraised at $3.5 million for $2.3 million. The bank which has 1,900 branches throughout the South, Midwest and Texas, paid $2.2 million for Cage's 2523 Pataniya Street property appraised at $3.3 million in the Garden District." He reportedly owed, "$5.5 million in mortgage payments and $151,730 to the City of New Orleans in real estate taxes."
Naturally, Nicolas Cage has a defense as to why he is singing the financial blues. Apparently, his business partner, Samuel Levin, has swindled him out of more than $20 million since 2001. Whether or not you believe his allegations, one thing is clear: Nicolas Cage is an idiot. he makes millions of dollars per film, and he has been the leading male in the majority of these films. At some point we have to be held accountable for our actions. I find it hard to believe that this guy stole $20 million from him since 2001 and he never even noticed it was missing? I'm sure this story is far more complicated than it seems, but I'm pretty sure I would notice $20 million missing.
Nicolas Cage has now been backed into the corner by lenders galore. The lawsuit he filed against Samuel Levin states, "Cage has discovered that he is now forced to sell major assets and investments at a significant loss and is faced with huge tax liabilities because of Levin's incompetence, misrepresentations and recklessness. Rather than attaining financial security, Cage has been forced to dispose of significant assets in order to pay for Levin's gross misconduct." If Levin really did steal from him he should go to prison. After all, what's wrong is wrong. However, Nicolas Cage should learn a valuable lesson here. No matter how much money you make, it is still possible for you to live outside of your means. Nobody is immune to that practice. You need to be smart about your money. Be an active participant in how that money is spent and saved.
Oprah Winfrey has always claimed that she has always signed her own checks and always will. I always thought that was great advice for when I become rich and famous. When you have that much money you have to be smart about the people you choose to surround you. I hope he learns from his mistakes. Hopefully, he can realize millions of people in this world have it far worse that he ever will.
This past Thursday Nicolas Cage had 2 of his New Orleans homes get auctioned off to the highest bidder due to their foreclosure status. He essentially lost $6.8 million on those 2 home alone. This article states, "Birmingham, Ala.- based Regions Bank purchased Cage's 1140 Royal Street property in the French Quarter appraised at $3.5 million for $2.3 million. The bank which has 1,900 branches throughout the South, Midwest and Texas, paid $2.2 million for Cage's 2523 Pataniya Street property appraised at $3.3 million in the Garden District." He reportedly owed, "$5.5 million in mortgage payments and $151,730 to the City of New Orleans in real estate taxes."
Naturally, Nicolas Cage has a defense as to why he is singing the financial blues. Apparently, his business partner, Samuel Levin, has swindled him out of more than $20 million since 2001. Whether or not you believe his allegations, one thing is clear: Nicolas Cage is an idiot. he makes millions of dollars per film, and he has been the leading male in the majority of these films. At some point we have to be held accountable for our actions. I find it hard to believe that this guy stole $20 million from him since 2001 and he never even noticed it was missing? I'm sure this story is far more complicated than it seems, but I'm pretty sure I would notice $20 million missing.
Nicolas Cage has now been backed into the corner by lenders galore. The lawsuit he filed against Samuel Levin states, "Cage has discovered that he is now forced to sell major assets and investments at a significant loss and is faced with huge tax liabilities because of Levin's incompetence, misrepresentations and recklessness. Rather than attaining financial security, Cage has been forced to dispose of significant assets in order to pay for Levin's gross misconduct." If Levin really did steal from him he should go to prison. After all, what's wrong is wrong. However, Nicolas Cage should learn a valuable lesson here. No matter how much money you make, it is still possible for you to live outside of your means. Nobody is immune to that practice. You need to be smart about your money. Be an active participant in how that money is spent and saved.
Oprah Winfrey has always claimed that she has always signed her own checks and always will. I always thought that was great advice for when I become rich and famous. When you have that much money you have to be smart about the people you choose to surround you. I hope he learns from his mistakes. Hopefully, he can realize millions of people in this world have it far worse that he ever will.
I am always surprised to see people with so much money who do not invest a little of it into a person who looks after their investments or at least a CPA who is responsible to keep what they do have straight. The cost to retain the best people in either field full time would be only a fraction of what most of these people loose. Like you said people have to make smart decisions or pay the consequences, literally.
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