The Baldwins owed a reported $1.2 million on two mortgages for their home in Rockland County, N.Y., valued at $1.1 million. Court filings also showed the actor owed $70,000 in credit card debt and more than $1 million in taxes.
The born-again Christian and brother of actor Alec Baldwin paid $515,000 for the home and 1.4-acre lot in 1997, according to the Associated Press. The star recently appeared on reality shows such as "The Celebrity Apprentice," and "I'm a Celebrity... Get Me Out of Here!" where he baptized Spencer Pratt.
After unsuccessfully trying to sell the house in 2006, Baldwin and his wife Kennya defaulted on over $824,000 in payments to their mortgage, according to the AP.
Financial woes have proven too much for Lenny Dykstra, the former New York Mets and Philadelphia Phillies centerfielder known as "Nails" because of his toughness.
Dykstra filed a petition for Chapter 11 bankruptcy protection in California July 7, said his lawyer, Walter Hackett.
Dykstra, 46, a star when the Mets won the 1986 World Series, also faces more than 20 lawsuits, including suits filed by his wife for divorce and his brother over a dispute regarding their partnership in a carwash. However, Dykstra's decision to file for Chapter 11 did not have anything to do with the lawsuits, Hackett said.
The main reason, he said, for the Chapter 11 petition was the foreclosure sale of Dykstra's $18 million California mansion. Hackett said Dykstra is a victim of mortgage fraud by a lender at Washington Mutual, now JP Morgan Chase.
Jose Canseco struck out early in the mortgage crisis when the baseball slugger-turned-reality-star had to let go of his $2.5 million Encino, Calif., home in May 2008. Canseco decided to ditch the mansion, citing plummeting property values and a high mortgage, reported Forbes.com in 2008.
"It didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else," Canseco told "Inside Edition" last year.
Victoria Gotti, daughter of late mob boss John Gotti, apparently owes $650,000 to JP Morgan Chase Bank, which has sought to foreclose on her Old Westbury, N.Y., mansion since 2007. Lower court rulings have deemed foreclosure premature, according to People Magazine. However, an appeals court reversed that decision and the $4.2 million estate now appears to be at risk.
The house, which was used in the short-lived show that brought the Gottis into the limelight, "Growing Up Gotti," was part of a divorce package from her ex-husband, Carmine Agnello. "This should finally put to rest all the government lies and rumors that I have $200 million buried in my backyard," Gotti told the New York Post.
Former "Full House" star Jodie Sweetin is struggling to keep a house of her own. In November, the mom and former meth addict reportedly filed court papers describing her crumbling marriage to Cody Herpin and the sad state of their financial affairs.
"Our house is in foreclosure, our water has been shut off twice. Currently, all of our other utilities are overdue," Sweetin said in papers filed Nov. 19 in an Orange County, Calif., and reported by People Magazine. Sweetin may be able to pay some bills with the proceeds from her new tell-all. The New York Post reported that she will bare her past as a secret drug abuser in "UnSweetined," from Simon Spotlight Entertainment.