Michael Shanks and Chris Judge - real estate woes

[wraithfodder]

Wow, this a sucky thing to read!

In an article on foreclosures....

November 27, 2008

http://blog.macleans.ca/2008/11/27/could-it-happen-here/?ref=patrick.net

Christopher Judge is accustomed to turning heads in Vancouver. During the decade-long run of the cult hit TV show Stargate SG-1, which was filmed in and around the city, Judge starred as the muscle-bound alien Teal’c. But when the six-foot-three actor appeared in B.C. Supreme Court in mid-November, amid raised eyebrows from the galley, it was for a role he’d desperately hoped to avoid. Judge, who owns three luxury homes in B.C., faces foreclosure. He’d flown up from Los Angeles the night before to ask the court for time to get a new appraisal done on one of his properties, a West Vancouver home with stunning views of the city that he’d bought for $2 million in 2006. At the same time, one of Judge’s former co-stars on the show, Michael Shanks, is facing foreclosure on another sprawling West Vancouver home purchased in January for $4 million. “I was always told the safest place for your money is in the real estate market because it would never drop by 50 per cent, but that’s exactly what’s happened,” a congenial Judge said outside the court. “I watched the L.A. housing market fall and now I’m having to watch the B.C. market go down, too.”

REST AT LINK ABOVE
 

Comments

[mcsheplovers.livejournal.com]

That does suck!

[wraithfodder.livejournal.com]

Definitely!

[berry-hearts.livejournal.com]

wow lame-tastic.
does chris really need three homes though?
it sad it's happening to them.

[wraithfodder.livejournal.com]

By guess is that he got them as investments/rental properties, but the market would have to have kept on the high track for it to work. Alas, the bubble was bound to burst.

[shaddyr]

Dude. This *sucks*.

CMHC owns the mortgage on my housing co-op. It would be bad if something happened to them. Huh. And we've been talking about re-financing to do about 2 million in building envelope repairs to our co-op.

Gah.

Too bad about Judge and Shanks.

[wraithfodder.livejournal.com]

Yeah, and it's not like people are running out to buy properties now. Every day I see more 'for sale' signs going up.

[monkey-junkey.livejournal.com]

Ouch, I'm sorry to hear that!

[wraithfodder.livejournal.com]

Yeah, it was a shock to read.

[poundpuppy-29.livejournal.com]

Wow thanks for finding the link

[haliyah.livejournal.com]

Ack, fail! Dx

[flingslass.livejournal.com]

It's happening to everyone. I hope it doesn't happen to me :(

[melbournemathis.livejournal.com]

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[tomgracy.livejournal.com]

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[patrickorsua.livejournal.com]

Thanks a lot for your kindness. I really understand now why many people are dying for their real estate investments.

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[willarlovski.livejournal.com]

I also hope that this would not happen to me or my family. It too horrible.

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