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Nicolas Cage loses two New Orleans homes to foreclosure
13-Nov-2009
Written by: Sari N. Kent
Actor Nicolas Cage sold his two houses in New Orleans, Louisiana, in a foreclosure auction, in an effort to pay off his considerable tax debt.
Academy Award-winning actor Nicolas Cage has filed a lawsuit after being forced to sell his two Louisiana residences to pay off his sizable monetary debt.
According to an article on People.com, “Cage, 45, who filed a lawsuit blaming his financial collapse on his longtime business partner, had his two historic French Quarter homes purchased in a foreclosure auction Thursday. The houses went for $4.5 million – about two-thirds the appraised value – to Cage's lender, Regions bank, the lone bidder. Movers were seen clearing Cage's belongings on Friday.”
Despite his financial troubles, Cage’s film career is still on the fast track as his next film, which is ironically set in “The Big Easy,” entitled “Bad Lieutenant: Port of Call New Orleans,” is slated to come out next month.
In addition to giving up his two Louisiana homes, Cage is also selling his Los Angeles, Las Vegas and Rhode Island dwellings in order to pay off a $6 million federal tax lien.
Many speculate how Cage could have accumulated such a substantial monetary black hole, especially after starring in so many big budget as well as critically acclaimed films such as 1997’s romantic drama, “Leaving Las Vegas,” for which he won the Academy Award for Best Actor in a Leading Role, the 1996 Michael Bay-directed actioner, “The Rock,” opposite Sean Connery, the 1998 romantic drama, “City of Angels,” opposite Meg Ryan, the 2004 action adventure, “National Treasure,” co-starring Diane Kruger, Justin Bartha, Sean Bean, Jon Voight and Harvey Keitel as well as its 2007 sequel, “National Treasure: Book of Secrets,” which added Academy Award-winning actress Helen Mirren and Academy Award-nominated actor Ed Harris to the movie’s cast.
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