Burt Reynolds admits he is "as surprised as everyone" following news he owes $1.2 million in unpaid mortgage payments. Once one of Hollywood's highest paid stars, the 75-year-old now risks losing his 4-acre waterfront Florida estate after a lender filed a foreclosure lawsuit on 9th August 2011, reports ABC News.
The 'Smokey and the Bandit' star has failed to pay a single mortgage payment on his Hobe Sound property since September 2010. In a statement about the foreclosure action, Burt said, "I am as surprised as everyone.I thought my career and my life could not be going better. 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". Despite the lawsuit, the actor remained optimistic, saying, "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". Nevertheless, the mortgage lender is asking a judge to order Reynolds to sell his home to satisfy the debts, and a source close to the star said, "He runs up bills and ignores them.He owes millions of dollars to people. It's a sad state of affairs".
Despite the Mediterranean-style home being valued at $2.4 million, Burt Reynolds put the property up for sale in 2009 for $8.9 million - there were no takers.