Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Could Bankruptcy Have Saved Nicholas Cage from Foreclosure?

Could a chapter 13 bankruptcy have saved Nicholas Cage’s homes from being gone in sixty seconds? (Well, maybe it took a little longer. I couldn’t resist the reference.) Cage’s two New Orleans properties sold for $2.3 million and $2.2 million at an auction last week. His foreclosures were the result of $6 million in unpaid back taxes dating all the way back to 2007. So, could I have helped Mr. Cage?

Absolutely, if I were licensed in the state of Louisiana. I certainly could have stopped his foreclosures. A chapter 13 bankruptcy stops a foreclosure due to back taxes. It will actually allow the person to keep their home and pay back their taxes throughout the life of their bankruptcy, which Mr. Cage surely could’ve done after his next installment of National Treasure.

So, even though it is too late to help Nicholas Cage, there is still time to help you. If you are facing foreclosure because of unpaid taxes, give our office a call. We can talk to you for free about what your options are for keeping your home.