Carnie Wilson: Facing Foreclosure, Trying to Hold on For Many More Days
Carnie Wilson has no one to blame for her unhappiness.
She likely purchased a home during her musical heyday, watched it tripled in value during the boom years of 1990-2006, and then borrowed against it to support a lifestyle beyond her means. In other words: She got herself into her own mess.
Coming off her random, hilarious appearance in Bridesmaids, this member of iconic 1990s trio Wilson Phillips is facing a serious situation: foreclosure.
As first reported by TMZ, Wilson has defaulted on her California home loan and has until July 21 to fork over the $1.6 million owed on the residence. Otherwise, the house goes up for auction.
Due to what may have been an impulsive purchase by the artist, the home-owning dream is no longer alive. The bank won't release her from the contract, no matter how many song-related puns we come up with.
Carnie and the property will likely go their own ways.
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July 11th, 2011 10:47 AM
Couldn't they just sell the house and buy something a bit cheaper? or rent? i know nothing about reality, but that makes sense to me.
Rank: D-Lister
July 11th, 2011 10:38 AM
Bingo. Not all the fault lays with the housing market. The homeowner shares some responsibility......for living far beyond their means or borrowing repeatedly off their equity.