From CNNMoeny.com: Nicolas Cage: Movie star, foreclosure victim
NEW YORK (CNNMoney.com) -- Even Academy Award winners are suffering from financial woes this recession. Actor Nicolas Cage lost two homes in New Orleans worth a total of $6.8 million in a foreclosure auction Thursday.
Birmingham, Ala.-based Regions Bank purchased Cage's 1140 Royal Street property in the French Quarter appraised at $3.5 million for $2.3 million. The bank, which has about 1,900 branches throughout the South, Midwest and Texas, paid $2.2 million for Cage's 2523 Pataniya Street property appraised at $3.3 million in the Garden District.
New Orleans's civil Sheriff Paul Valteau said no other bids were made on the houses.
Cage owed $5.5 million in mortgage payments and $151,730 to the City of New Orleans in real estate taxes, according to Valteau.
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