Okay, enough of the whole, “look at the really rich celebrity getting caught up in the foreclosure crisis! thing. Seriously.
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(CNBC) -- It seems like over the past few months, the media just can’t get enough of showing swanky celeb estates in foreclosure. "Look! They're in trouble just like everybody else!" They are not everybody else. First it was it was the widow Veronica Hearst’s 52-room Villa Venezia in Palm Beach, then of course Michael Jackson’s Neverland, then Ed McMahon’s place in Beverly Hills, and today it’s Evander Holyfield’s 54,000 square-foot home in suburban Atlanta. It seems that we are supposed to lump all these folks in with the subprime borrowers in Northern Virginia and the speculative investors in the Miami condo market. Come on! Evander Holyfield’s home reportedly has 109 rooms, including 17 bathrooms and a bowling alley. Not only is he not paying the mortgage, he’s not paying child support either. I don’t know exactly how much the only four-time heavyweight champion pulled in during his boxing days, but I have to imagine that it was a lot, and if invested correctly probably would continue to keep him and all nine of his kids in his 17 bathrooms.
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