Have you heard the latest on the Holyfield foreclosure? A poor housing market in the US and owning a multi-million dollar home are a dangerous mix. The poor economy is one of the reasons why many people are feeling the pinch and being a celebrity doesn’t mean that you will not face this problem.

In the last couple months more then one celebrity has not been able to keep up with their mortgage payments. Ed McMahon, Latrell Sprewell, and Jose Canseco have faced headaches with paying for their homes. The lasted to ad the the list of down and out celebs is the Holyfield Foreclosure.

Holyfield reportedly has made 200 millions from his boxing career. How can these multi-millionaires not afford their house payments? I just think it boils down to their lavish lifestyles. Read the rest of this entry »