14 DAY TRIAL // LeAnn Rimes and Eddie Cibrian are so broke that they can barely afford groceries, let alone pay off a debt they incurred with friends 3 years ago, 2 separate reports claim.
The friends are tired of waiting for that to happen, so they’ve filed papers to foreclose on the house they helped LeAnn and Eddie buy. Both reports note that foreclosure is most definitely a possibility right now, unless they can come up with a lot of cash overnight.
LeAnn burned through her fortune
LeAnn Rimes’ career as a singer has not been as successful as it was once, especially before she hooked up with then-married Eddie and then went on to marry him.
The two tried to make lemonade of the lemons life gave them a while back, landing their own VH1 reality show, but it was canceled after poor ratings and even worse reviews. The same people who were refusing to buy LeAnn’s music also caught her and Eddie lying on and about the show, and word of it spread fast on social media.
Eddie, on the other hand, has been living the big life even though he hasn’t been working too much. He’s been doing TV series and movies for some time, but he’s not cashing in the big checks, which means that his luxurious lifestyle has been supported with LeAnn’s money.
Star Magazine estimates that she was worth about $20 million (€18 million) at the height of her career. Not much is left of it now. In fact, the tabloid says, they’re so broke that they can barely afford groceries on a weekly basis right now.
A loan that they could not cover
OK! Magazine is running a similar story in this week’s issue, pointing out that trouble began in 2012, when LeAnn and Eddie bought their $3 million (€2.7 million) home in Hidden Hills, California. They only qualified for a $2.1 million (€1.89 million) loan in the bank, so they had to come up with the rest on their own.
They raised some cash, but they turned to Dave and Lizzie Fradin for the rest, amounting to $350,000 (€315,600).
That was 3 years ago and the Fradins are yet to see a dime, OK! says. Apparently, the Fradins have already filed the papers to foreclose on the house so they can get their money back.
Rumors that LeAnn and Eddie were not doing so great financially have been around for the past couple of years, but this is the first time that the tabloids actually put figures and names to the story. In other words, chances are this isn’t another one of those reports we’d recommend taking with a “(huge) grain of salt.”