MARTIN COUNTY, Fl. – Looks like another celebrity is a victim of the economic downturn.
A bank is seeking to foreclose on actor Burt Reynolds’ home in Florida. The bank claims it needs to collect close to $1.2 million for a mortgage. Bank officials said Reynolds hasn’t made a house payment on the property since September 2010.
Merrill Lynch Credit Corp. filed a lawsuit in Martin County, Florida against Reynolds, BankAtlantic, and Great Eastern Mortgage. In the suit, Merrill Lynch asks that the 12,500 square foot home be sold to collect debts. The county property appraiser set the home’s worth at $2.4 million.
Previous reports claimed that Reynolds tried to sell the home in 2009 for $8.9 million, but was having difficulty because of the economy.
Reynolds said through his rep that he was surprised by the lawsuit.