Ed McMahon and Evander Holyfield are only the latest celebrities to face foreclosure.

Celebrities have mansions and estates but the banks show no mercy when it comes to enforcing non-payment. At least the average person doesn't have to face the glare of the entire world. Or see their hardship splashed all over the cover

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No tax dollars should be used to bail out the lending institutions that took a financial gamble and lost. The foreclosure crisis is a problem brought on by the lending institutions themselves. The government should not bail them out. Lenders have the ability to renegotiate the terms of their loans and that is what they shoul

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The perception is that everyone who lives in Beverly Hills is mega rich and has no worries, well that simply isn't the case. Foreclosures happen everywhere. The United States is seeing a record number of foreclosures and housing prices in general are dropping which kills equity.

The high profile foreclosure filings of Ed

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Several factors play into the losses. First of all, record default and foreclosure rates are killing mortgage companies and the firms that have invested in them.

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