Burt Reynolds's Florida Home Faces Foreclosure

By Kyle Munzenrieder Thu., Aug. 18 2011 at 12:29 PM

Categories: The Z List, Unreal Estate

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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.

"I am as surprised as everyone. I thought my career and my life could not be going better," Reynolds said in a statement released by his publicist to USA Today. "To all of the people who have had such faith in me and stuck by me through thick and thin, thank you. I know it is not the end of the world.

"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.

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.

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