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11 Celebrity Foreclosures

Nicolas Cage's reputation as a talented actor began when he starred in "Valley Girl" and "Birdy" in the 1980s. Next, he received an Oscar nomination for his work in "Moonstruck," and he finally took the golden statuette home for portraying an alcoholic in 1995’s "Leaving Las Vegas." Rather than stay on the serious acting track, however, he transitioned to roles in action movies, earning huge paydays in the process.

Despite the new tax bracket, he wound up in major financial trouble and owed millions of dollars in back taxes. On April 8, 2010, The Los Angeles Times reported the auction of the $35 million Bel Air, Calif., mansion that Cage had lost to foreclosure. Despite a $10.4 million opening bid that was less than a third of the house’s original cost, there were no takers. Maybe it was the décor, which real estate agent Bret Parsons characterized as “frat house bordello.”