There is more to popular celebrity culture than paparazzi, red carpet, Oprah’s show, and winning Grammy’s. There is more to it than all the fame and extensive rows of fans lined outside their houses. Celebrities also struggle with finances that some of us do, and we discussed some of the most famous foreclosures in recent history in a recent blog post.
Here’s part 2 of the series.
Timothy Busfield
Timothy Busfield is widely known for the hit TV series Thirtysomething and The West Wing. His role in Thirtysomething also earned him an Emmy Award in 1991. However, Busfield rose to fame was because of his role as Poindexter in the American teen sex comedy ‘Revenge of The Nerds.’ Unfortunately, none of the fame and awards could help him stave off financial hardships.
In November 2010, things took a nasty turn for Busfield. He had to deal with a costly divorce and a defaulted mortgage at the same time. As reported by Forbes, his home was foreclosed and repossessed later in January 2011.
Rick Derringer
If you’re fond of classic rock radio, we are sure you remember the ‘Rock and Roll, Hoochie Koo’ that reigned the airwaves back in 1973. Well, the man behind the hit single was Rick Derringer, who later succumbed to a downward financial trajectory, just like many of his industry peers. Despite the impressive production and discovery of ‘Weird Al’ Yankovic, Derringer couldn’t get his finances back on track.
Later in 2010, Derringer reportedly defaulted on his $46,000 line of credit. His situation worsened when he took another the same year. Eventually, both the lenders filed foreclosure lawsuits against the rockstar. Derringer later stated that he would want to keep his money by going for a reverse mortgage.
Teresa Giudice
We all remember Teresa Giudice from the hit reality TV show ‘The Real Housewives of New Jersey.’ Giudice has been involved in multiple bankruptcy episodes during her career. She once owed $2.6 million for eight mortgages on three of her homes. One of these was her famous mansion in Towaco, N.J. that we got to see on the show.
In 2009, she ended up filing for Chapter 7 bankruptcy protection with more than $11 million in debt. This included over $100,000 in credit card bills and around $6 million in business investments. She was also sentenced to 15-month incarceration for federal bankruptcy fraud.
Our services extend to celebrities and ordinary citizens alike. Irrespective of who you are, get in touch with Recovering All Investments, and we will help you retain your foreclosed home in Texas and pay your mortgage.