Lindsay Lohan: Home on the Auction Block
By Teresa Ambord
Another round of bad news for the Mean Girls star Lindsay Lohan (age twenty-six) and her mother, Dina (age fifty). In early February they were greeted by an envelope tacked on the gate of their Merrick, New York, mansion. The envelope was marked "Important Information Enclosed" and was stuffed full of foreclosure documents, according to the process server from JP Morgan Chase Bank. This is the last in a series of efforts by the bank to foreclose.
Lindsay has been staying with her mother in the home in Merrick, presumably because Lindsay is under a load of money troubles. Looking back over the last few years, part of Lindsay's financial problems
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could stem from her efforts to bail out her mother.
The bank has been threatening foreclosure on Dina's home as far back as 2005 (when Lindsay was only eighteen). Dina has been able to hang on, by establishing new payment agreements and, with Lindsay's help, making the payments for a while. Eventually however, she fell behind again, and a new threat has arisen.
In 2012, the bank began rattling the saber again. And again, Lindsay helped save the home by loaning her mom $40,000 to give the bank. Now, just months later, the bank is back.
The tendency to spend unwisely may run in the family, with Dina in debt more than a million dollars. History shows that she may have relied too much on her daughter's ability to come to the rescue. Now with Lindsay's own resources severely depleted, the band-aid fixes to the mortgage debacle may be over. If the foreclosure goes through, it'll be yet another sad chapter in the young star's life.
- More of Lindsay Lohan's "Believe It or Not" Tax Life
- Update: IRS Seizes Lindsay Lohan's Assets
- Charlie Sheen to the Rescue for Lindsay Lohan
Voice of the Editor
Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
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