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Nicolas Cage Owes Millions to Nevada Bank for Foreclosed Property, Says Report

Nicolas Cage Owes Millions to Nevada Bank for Foreclosed Property, Says Report
Nicolas Cage May 12, 2009 (AP Photo) AP Photo

NEW YORK (CBS) A recently filed judgment against Oscar Award-winning actor Nicolas Cage claims that he owes over $2.5 million for a foreclosed property in Nevada, according to court documents obtained by RadarOnline.com.

The documents were filed Wednesday in Los Angeles and name the actor as the owner of a property which went into foreclosure and was sold in January for $3.5 million less than Cage paid for it in 2006, according to the papers obtained by RadarOnline.com.

The District Court in Clark County, Nevada says Cage is responsible for $2,300,145.24 for defaulting on a loan from the Nevada State Bank, as well as delinquent taxes the bank had to pay at foreclosure of his property in the amount of $106,811.49, foreclosure costs of $35,213.90 as well as $24,722.72 for attorney's fees, and another of $9,915.22 in legal costs, RadarOnline.com reported.

The total of the judgment is a whopping $2,511,605.74.

And he better whip the checkbook out quickly because there is also interest charged on the judgment at 5.5% until it is paid off.