Recent economic difficulties have left many homeowners in an untenable situation; housing values have plummeted, leaving them with mortgages that far outweigh the home's current worth and creating the potential for foreclosure. Average homeowners are not the only ones hit by the economic crisis, however; the rich and famous have seen their share of financial difficulties due to poor management or recent economic downturns as well. As a result, a number of well-known and celebrity foreclosures have taken place in recent years; while these rarely have the same catastrophic effects for stars as for private individuals, they can still create unfavorable publicity and damage the celebrity's public image.
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