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Picture this, another celebrity in money trouble

Beth Pinsker
Sep 4th 2008 at 2:00PM

Filed under: Debt, Extracurriculars, Wealth

annie leibovitzMaybe taking pictures of celebrities and hanging out at celebrity venues doesn't make you one of the rich and famous after all. Annie Leibovitz, the famed photographer, is in serious debt, at least according to the New York Post. The paper reports that she owes $715,000 for things like equipment rentals, renovations, unpaid taxes and an aborted book project. She racked up these debts despite a reported $2 million annual deal with Vanity Fair, where she takes fabulous and controversial pictures.

As we are learning almost daily from celebrity foreclosure and bankruptcy stories, Leibowitz is hardly unique among the glitterati for getting into money trouble. The latest news from the Ed McMahon front, by the way, is that the deal to save his house is off.

Celebrity Foreclosures

    Damon Dash
    Foreclosure proceedings have begun against hip-hop mogul Damon Dash over unpaid mortgages on two Manhattan apartments. Eastern Savings Bank says the Roc-A-Fella Records co-founder and his wife owe more than $7 million on the properties.

    Gary Gershoff, Wire Image

    Former "Tonight Show" personality Ed McMahon makes "a confidential deal" to sell his Beverly Hills home after falling behind on payments. But one thing is clear. It's not Donald Trump who recently offered to buy the home.

    Matt Sayles, AP

    'Extreme Makeover' House
    The Harper family home in Georgia, which was rebuilt on an episode of ABC's "Extreme Makeover" in 2005, went into foreclosure this summer after the family used the house as collateral for a $450,000 loan and couldn't meet the payments.

    Michael Buckner, Getty Images

    Scott Storch
    Hip-hop producer Scott Storch went into foreclosure in July on his $10 million Miami mansion, according to The Palm Beach Post. He also had his Ferrari Scaglietti and his prized motorcycle, a Bones Bike, repossessed.

    Wilfredo Lee, AP

    Vin Baker
    Former NBA player Vin Baker has also been stung by the wave of foreclosures sweeping the U.S. Baker's 9,300-square-foot Georgian brick colonial Durham home, which has six bedrooms, a two-lane bowling alley, basketball court, guest house and pool was auctioned for $2.5 million.

    Charles Krupa, AP

    Ernestine Anderson
    The jazz vocalist sings the National Anthem at a Seattle Seahawks game. But Jackson may not be singing now as she faces a foreclosure on her Seattle home. Public records show that she is more than $30,000 in arrears in payments and penalties.

    Jonathan Ferrey, Getty Images

    Adam 'Pacman' Jones
    The home of Cowboys cornerback Adam "Pacman" Jones will was recently put up for auction, attracting a $1.1 million offer --significantly less than the $1.4 million he owned on his home. Jones is one of the latest sports stars to run into issues with money management.

    Ray Tamarra, Getty Images

    The Mount, author Edith Wharton's estate in Lenox, Mass., needs to raise $6 million by the end of October to avoid foreclosure. Since February, $900,000 has been donated, but fundraisers need another $2.1 million in order to secure a pledged matching donation.

    AP (2)

    The trust overseeing Mark Twain's House and Museum in Hartford, Conn., still owes $4.9 million on a bank loan and is trying to meet its $2.9 million annual budget. The Twain House's executive director says an ambitious $19 million visitor center which opened in 2003 set the site's finances back.

    AP (2)

    Reflecting cuts in Vermont's state budget, the historic birthplace of President Chester A. Arthur in Fairfield, Vt., has cut back summer visiting hours from five days weekly to just two. A number of other government-maintained historic sites have reduced visiting hours, while others have been turned over to private groups.

    AP (2)

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