Sylvester Stewart Falls on Hard Times and Calls on Foreclosure Attorneys

The legend behind the all-time hit songs Family Affair and Everyday People at present is homeless, residing in a camper van parked in an LA neighborhood. The larger than life, flamboyant singer was in the grip of drugs and fell prey to money mismanagement, spending millions on cars and motorcycles. His lavish habits also cost him his sprawling mansion in Napa Valley, which was once replete with a vineyard and fleet of expensive cars out front. In fact, foreclosure attorneys had a tough time working out his money matters.

So he Says

The music marvel made an erratic appearance in a Grammy tribute in 1987 and then disappeared for about 19 years. During this time, he sued his manager for a number of supposed fraudulent activities and so-called damages and had a close brush with foreclosure attorneys as well. Whatever his circumstances, he says he loves his camper and does not like the idea of living in a fixed house. Well, he does not have any choice as of right now. If he was not given access to a citizen’s shower, he may have a different view on things. 

Music is Still in His Blood

Stone might be down, but he is far from out. He still records music from his laptop from his camper. He has always maintained that he earned all his money, millions of dollars according to him, through his songs. But the colorful and eccentric artist is finally getting weary. He seems to be missing being a part of the show. Having had his time with the courts and the foreclosure attorneys, he wants to now be amongst his own type, singing songs, and making memorable music. He is open to getting paid only if his music is liked. He would not receive a payment in any other way.

Burt Reynolds Caught in Foreclosure Lawsuit

The Smokey and the Bandit star is all of 75 years but his age has not put a dampener on Burt Reynolds spirits. With a new television show set to release, Reynolds has a few things to look up to amidst his own personal financial crisis. It looks like he did a Barnie Frank to himself.

Losing His Home

The unfortunate fact is that Reynolds has been having financial trouble for years now. His wife Loni Anderson and he own a sprawling property in Hobe Sound, Florida. The five bedroom property is a waterfront one and comes equipped with pools and even a helipad. Reynolds will need to speak with his foreclosure attorneys at the earliest since Merrill Lynch Credit Corporation has filed for foreclosure proceedings to be initiated on the property on the 1^st of September 2011. That date has already passed; Reynolds better by like Smokey and the Bandit and get a move on – the gauntlet by the bank has been laid down.

The Bank has its Cards in Order

Foreclosure attorneys might be able to save the property from going under but quick action will need to be taken. As per the law, Merrill Lynch waited a full year from the date they stopped receiving mortgage payments on the home to file a foreclosure lawsuit.

A Ridiculous Price

Reynolds and his foreclosure attorneys will have to come up with a way to pay Merrill Lynch $1,193,808 in principal with added interests and fees dated from 1^st August 2010. Reynolds had put up the mansion for sale but did so at an unreasonably high price of $8.9 million when the home has been valued at a mere $2.4 million. If the payments are not made by the stipulated date, Reynolds and his wife will have to vacate the property.