With one out of every 400 homes in Florida currently at some stage in the foreclosure process, it likely won’t come as a shock to residents to learn that a home is going up for foreclosure. While it won’t comfort Florida homeowners who are facing foreclosure, some might be interested to learn of a movie star who is facing foreclosure on his huge Florida home.
Burt Reynolds owns a home in Hobe Sound that is named Valhalla after the building of the same name in Norse mythology. Sadly, he might not be calling that house home for long. Recently, a judge denied his request to stop foreclosure on the massive home.
Back in 2011, Merrill Lynch Credit Corp. filed for foreclosure on the home when Reynolds fell behind on the mortgage payments. That company is now Bank of America. With the recent ruling by the judge, Bank of America can now continue with the lawsuit to reclaim the property from the 78-year-old movie star.
The large home boasts a helicopter pad, boat dock, indoor waterfall, wine room, movie theater and billiard room. Besides the seven bathrooms and five bedrooms in the main house, the property also includes a 2,000-square-foot guest house.
While Reynolds was unsuccessful in his quest to stop the foreclosure on his home, others in Florida might have success if they choose to pursue legal options to stop a foreclosure. Knowing what these options are and how to pursue them might help homeowners who are facing foreclosure stay in their home. Not every option is available to all homeowners, so the advice of a legal professional can be valuable.
Source: KSHB Kansas City, “Burt Reynolds faces foreclosure” Christine DiGangi, May. 30, 2014