Burt Reynolds sees his Florida mansion go into foreclosure

When the bandit can't sell, the housing market must be weak.

Headline: Burt Reynolds sees his Florida mansion go into foreclosure

Yes, even Hollywood movie stars are facing foreclosure.

Burt Reynolds has been hit with a foreclosure notice on his waterfront mansion in Hobe Sound, Fla. The star of "Smokey and the Bandit" and "Boogie Nights" (for which Reynolds was nominated for an Academy Award for Best Supporting Actor ) hasn't made payments for the past year, and owes $1.2 million on the mortgage, according to a lawsuit filed by Merrill Lynch Credit Corporation.

Reynolds first put the 5-bedroom, 7-bathroom waterfront home up for sale in 2005 for $15 million. He's cut the price several times, but it hasn't sold. If you're in the market, the three-acre estate includes a screening room, billiard room, gym. and a 2,000-square foot guest house, heated pool, dock, and helipad.

Source: csmonitor.com