Not even Burt Reynolds and his legendary mustache are immune to Florida's foreclosure fiasco. According to a lawsuit filed by Merrill Lynch Credit Corp., Reynolds hasn't made a mortgage payment on his multimillion-dollar mansion in Hobe Sound since August 2010. Not even the Bandit himself can keep himself out of foreclosure.
Merrill Lynch is seeking almost $1.2 million because Reynolds is behind on the mortgage on his spread along the Intracoastal Waterway. The property is a 12,500-square-foot Mediterranean-style home on a four-acre lot.
In order to satisfy the debt, Merrill Lynch is asking a judge to order the sale of the house.
"There are a hell of a lot of other people worse off than I am, and my heart goes out to them. I will do like I've always done, keep my head up high and continue to move on down the road."
Reynolds's mustache was unavailable for comment.
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Reynolds, who moved to South Florida when he was 10, had listed the home for sale in 2009 for $8.9 million, but noted at the time that Florida's real estate market was making it difficult to unload the property.
