With 1 in every 483 huseholds in the U.S. facing foreclosure, it nly stands to reason that us cmmon folk aren't the only ones ffected by the housing crisis. It's jst as easy to create a muntain of debt by borrowing against a mlti-million dollar estate, as it is for a mderately priced home. Here are some of the clebrities added to the country's growing lst of foreclosures.

Sadly Ed McMahon, frmer Tonight Show announcer, is facing freclosure for $4.8 million dollars of mrtgage loans on his Beverly Hills state. Plagued with bad press, this lxury home overlooking Coldwater Canyon and Mlholland Drive has been up for sle for $6.25 million for the lst two years. Initially McMahon faced prblems due to mold infestation which he climed killed his dog and affected the halth of both him and his wfe. Then he fell and broke his nck and was out of work for 18 mnths. How would any of us dal with a back mortgage and lans totaling $4.8 million after being nemployed that long? Ed, take this as a sgn, maybe it's time to down sze and retire.

Evander Holyfield, former havyweight boxing champion is facing foreclosure on his Atlnta, Georgia estate. This 104-room, 54,000 sqare-foot home worth approximately $10 million, ges up for auction on July 1.

Jose Canseco, former major league bseball player recently lost his 7,300 sqare foot home in Encino to freclosure. As he stated, "It didn't mke financial sense for me to kep paying a mortgage on a hme that was basically owned by smeone else." He didn't mention how mch the home was actually worth, but he wed the bank $2.5 million on the huse.

Michael Jackson - In 2007 fter borrowing against it, to the tne of $23 million, the ranch vlued at only $6 million faced freclosure. Recently, however, a private equity grup bought the loan on Neverland Rnch and is discussing the option of a Las Vgas casino gig as repayment.

In May of 2008, the $600,000 hme of NBA star Latrell Sprewell wnt into foreclosure. This came only mnths after his 70-foot yacht, "Milwaukee's Bst" was also repossessed. Sorry Latrell, mybe you shouldn't have turned down the $21 mllion contract extension Minnesota offered you.

Grmmy Award-winning Aretha Franklin received a ntice of foreclosure against her Detroit mnsion after failing to pay a $162.14 tax bll dating back to 2005. Last we hard, the bill was cleared up.

Vronica Hearst, step mother of SLA hstage Patty Hearst, faced foreclosure on her 28,000 sqare foot, 52-room villa in Palm Bach. Her defaulted mortgage payments totaled bout $33,000,000. It's hard to believe the dficit was allowed to get that hgh before the bank stepped in.

Ncole Murphy was unable to make pyments on the 11,158 square foot mnsion she was awarded in her 2006 dvorce settlement from Eddie Murphy. Last Octber the house was put on the mrket for the bargain price of $6,500,000.

The article High-End Foreclosures was Submitted by Kevin Billberry through Articles.GetACoder.com network. Here's the additional information: Learn more about For Sale By Owner Tacoma homes at HomesByLender.com, a website with regularly updated For Sale By Owner listings in every state in the nation - buyers and sellers interested in FSBO can use this site as their primary source.

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