Hollywood movie star Chris Tucker has earned millions from starring in the 'Rush Hour' series alongside Jackie Chan, but despite his seemingly immense riches, his $6m Florida home is reportedly on the verge of foreclosure.
That's not the worst part - the mansionhas depreciated so much that it now has an assessed value of only $1.6 million,so, it looks like Tucker is set for a big loss either way.
Tucker, who also starred with Bruce Willis in 'The Fifth Element' owes the cash to SunTrust Bank, according toforeclosure papers filed in Circuit Court in Lake County, the Orlando Sentinel said.
According to circuit-court documents, the Internal Revenue Service imposed a$11.5 million lien on the home last year in an effort to collect federal incometaxes from Tucker.That meant they would have the right to sell the property ifhe failed to meet his obligations. The papers also show his monthly mortgagepayment for the Bella Collina property was $25,812.50.
Set in a lovely 1,900-acre community overlooking lakes and achampionship golf course, the house has five bedrooms, three fireplaces, apersonal spa in the master suite and an outdoor kitchen overlooking a pool. Butperhaps it most bizarre feature is its basement , which is designed like apirate ship with a wooden deck, mast and sail.
Developer Edward Robert Bobby Ginn III plannedto include 800 Tuscan-style homes. But while Lake County records show more than700 real-estate transactions involving Bella Collina lots occurred from 2004 to2007, only about 40 of the 801 lots were ever developed into homes.
Ironically, Tucker's luxury home was one of eight showedduring 'Street of Dreams' event at the height of the real-estate boom in 2006. Atthe time unimproved one-acre parcels sold for hundreds of thousands of dollars,while some lots sold for more than $1 million. It was marketed as an area forthe super rich.