Not surprisingly, the housing market is noted to be one of the worst in U.S. history.  Struggling homeowners are losing their homes to foreclosure on every block.  But average home owners aren’t the only ones losing their homes. Even rich and famous celebrities are powerless against the clutches of foreclosure and home loss! Whether they’ve lost their homes through bad financial investments or realize their home value has plummeted, here are seven surprising celebrity foreclosures.

Academy Award- winning actor Nicholas Cage reportedly lost four luxury homes in the past year through last November and owed millions of dollars in back taxes to the IRS. Cage most recently lost his 11,817 sq. ft. Bel-Air mansion to foreclosure when it didn’t sell at a public auction last year.

Grammy award-winning, R&B diva and song writer Toni Braxton unfortunately has lost two homes in the past two years. She first lost her Las Vegas home last year, and then filed a foreclosure suit on her Georgia country club property.

Hip Hop super star and Grammy-winner Chamillionaire (Hakeem Seriki) chose to walk away from his 7,583 sq. foot home he purchased for $2 million dollars back in 2006. He failed to make several payments, and claims he strategically defaulted on his Houston, Texas home last year.

Controversial, Academy Award-wining actor and director Mel Gibson received foreclosure liens against three of his Malibu properties back in September which included his Church of the Holy Family.

Former baseball star and steroid enthusiast Jose Conseco reportedly walked away from his $2.5 million, 7,300-square-foot home last year because its his home values dropped, and it was worth less than his home payments.

The Queen of Soul and Grammy award-winning songstress Aretha Franklin is fighting foreclosure on her Bloomfield Hills, Michigan mansion due to non payment of back taxes from 2005 a county official reported.

Legal pariah and Grammy Award-winning singer-songwriter R. Kelly is filing foreclosure on his 11,140 sq. ft. mansion in Olympia Fields, Ill., after not paying the mortgage in over a year as reported by the Chicago Real Estate Daily.

For a list of foreclosed homes in the San Diego area visit www.openoffer.com/foreclosures.

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This is filed under Foreclosures.


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