Merrill Lynch files foreclosure action against Burt Reynolds’ Hobe Sound home

Miami /
Aug.August 16, 2011 12:50 PM

Merrill Lynch has filed to foreclose on actor Burt Reynolds’ longtime Hobe Sound home, the Sun Sentinel reported. The bank is seeking to collect around $1.2 million for a mortgage on his four-acre estate after Reynolds allegedly failed to make a payment since September 2010.

“No subsequent payments have been made,” the lawsuit said. “Plaintiff must be paid $1,193,808 in principal on the mortgage note and mortgage, together with interest from Aug. 1, 2010, and all costs … and reasonable attorney’s fees.”
BankAtlantic holds a second $750,000 mortgage on the Mediterranean-style home, which currently is valued at $2.4 million, the Sentinel said.

Reynolds listed the 12,500-square-foot for sale for $8.9 million in 2009.

“Every evening when I walk my dog down to the gate on U.S. 1 and back to the house, I think, ‘Am I crazy?'” he told a local newspaper at the time. “This is paradise, so why would I want to sell it? Thankfully I don’t have to push it until the market gets better.” [Sun Sentinel]


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