Add “Smokey and the Bandit” star Burt Reynolds to the ever-growing list of Americans chugging down the foreclosure highway. Reynolds owes about $1.2 million on his Hobe Sound, Fla., home and hasn’t made a mortgage payment in almost a year, reports the South Florida Sun-Sentinel. The 12,538-square-foot house is listed for sale at $8.995 million, which, given the depth of the housing market plunge in Florida, is probably what it would cost to buy the entire state.
Florida, the Sunshine State that gave the nation hanging chads and the anti-gay stylings of OJ-swigging Anita Bryant, has been devastated by the housing collapse and is a national leader in foreclosures. According to the Sun-Sentinel, the suit against Reynolds was filed on behalf of the Merrill Lynch Credit Corp. and also names BankAtlantic as a junior lien holder for a second mortgage on the home in the amount of $750,000.
The house in question has five bedrooms, a state-of-the-art theater, billiards room and an antique paneled office. The property includes a pool, waterfalls, exercise and wine rooms plus a dock and helipad. It occupies more than three acres.
The 75-year-old actor, who starred in “Deliverance,” was formerly married to actress Loni Anderson. He filed for a Chapter 11 bankruptcy in the 1990s after their divorce. He also has a home in Little Rock, Ark.
Article is from AOL Real Estate.