Thread: Wealthy Leaving Vegas Mansions as Foreclosure Pain Spreads..

Wealthy Leaving Las Vegas Mansions as Foreclosure Pain Spreads

By John Gittelsohn - Apr 26, 2011 10:28 AM ET

Nicolas Cage, the Oscar-winning star of “Leaving Las Vegas,â€

The estate -- with 18 bedrooms, 36 bathrooms, a 20,000- bottle wine cellar, an 11-car garage and air-conditioned stables for 10 horses -- sold for $14 million in 2004 to Eric Petersen, who owned Consumer Credit Services Inc., a Las Vegas-based catalog-merchandising company that closed in 2008. Petersen, 44, said he spent $20 million to make the estate habitable.

OH please give me a break. It seems to me some of these people bought more than they could afford or they bought at the top of the market....So now they just want to walk away from the obligation..Why ..because it's lost its value....Well gee when they bought it they thought it had value for something even when it was a high price. Wasn't this consumer credit counseling thing screwing people over with scams on the them, while these people thought they were being helped getting their credit straightened out??? This person should have worked his own deal for himself...like he helped so many others!!!

Sorry....No sympathy from me I feel bad for the poor people that lost their homes, jobs and or livelihood through the fault of the economy and not of their own making. The very same people the banks screwed over with fraudulent loans and etc all the while taking our "bailout" money for themselves.

Kathyet