Even after being cleared of sexual assault allegations.
I’m not seeing any explanation whatsoever why Spacey did not attempt to sell his home to avoid default/foreclosure.
I’m sure the legal bills are insanely high, but I am also pretty damned sure this mess is at least partially of his own making.
He’s done a ton of work over the decades and must be getting royalty checks. It’s looking to me like he doesn’t manage his money smartly.
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Who would buy a 5.6mil dollar home in Baltimore?
I don’t know who would pay $5.6M for it, but I’m sure someone would have bought it for $4M.
Selling under FMV would be far superior to foreclosure.
But then again, I’ve got very little confidence Spacey has significant equity built up, because he seems to manage his money like a child, which is to say not at all.
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The headline is wrong. It wasn’t a $5.6 million home, which may have been what Spacey owed on it. It was a $3.2 million home because that is what the buyer paid. Spacey likely paid too much for the home, then couldn’t make the payments and live like he once did because he has been shunned by Hollywood.
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