8 Stars in Dire Financial Straits

Even the rich and famous can't seem to escape the recession, especially when their fame peaked long ago.

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 Tuesday, said his lawyer, Walter Hackett.

The 46-year-old, who was one of the stars of the Mets team that won the 1986 World Series, also faces more than 20 lawsuits, including lawsuits filed by his wife for divorce and his brother over a dispute regarding their carwash partnership. However, Dykstra's decision to file for Chapter 11 did not have anything to do with the lawsuits, Hackett said.


The main reason for filing a Chapter 11 petition had to do with the foreclosure sale of the ex-big leaguer's $18 million California mansion, according to the lawyer, who said Dykstra is a victim of mortgage fraud by a lender at Washington Mutual, now JP Morgan Chase.

Dykstra is just one of a long list of celebrities with financial problems. Hit by tough times and lack of opportunities, stars, including Stephen Baldwin, Victoria Gotti and Annie Leibovitz, have been hit by tough times. Some have had to put their multimillion-dollar homes on the market, declare bankruptcy or seek foreclosure.

Below, ABCNews.com takes a look at seven more stars who have found themselves strapped for cash.

Stephen Baldwin

Stephen Baldwin, the star of films like "Bio-Dome" and "The Usual Suspects," may watch his Rockland County, N.Y., home go up for auction on July 22, the Journal News reported. The auction was originally scheduled for June 24. The born-again Christian and brother of Alec Baldwin paid $515,000 for the home and 1.4-acre lot in 1997, according to the AP. The star has recently been appearing 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 have defaulted on over $824,000 in payments to their mortgage, according to the AP. But a representive for Baldwin tells People Magazine that "Stephen is presently going through a legal situation regarding his mortgage and that situation is still in process. No auction will be happening and all things related to this matter are being handled by his legal representation."

Jose Canseco

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

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.

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