The term “foreclosure” hasn’t always been such a well-known real estate term. It wasn’t until the last recession in the mid 2000’s that many people learned the meaning firsthand. As jobs became scarce, many lost their source of income and thus their ability to pay their mortgages. Banks failed and houses were auctioned, leaving many Americans homeless.
It wasn’t just the average person affected by the downward spiraling economy. Celebrities were also victims of hard times. Less roles meant less money for stars, which proved quite the challenge for those accustomed to living a lavish lifestyle. Most celebs cut back on spending, but for some, that wasn’t enough. They could no longer make the mortgage payments on their mansions (which also plummeted in property value) leading to the inevitable: homelessness.
Which celebrities were kicked to the curb? Here are 10 celebrities who lost their homes and fortunes due to financial struggle. We’ll start with a comedian who starred in one of the most memorable buddy action movie series’ of all time.