Hollywood legend Burt Reynolds is facing foreclosure on the Florida mansion he once shared with Loni Anderson.
Reynolds owes Merrill Lynch Credit Corp. $1.2 million on a mortgage on the Hobe Sound home, according to a lawsuit filed in Martin County. The suit contends the 75-year-old actor has not made a payment on the home since Sept,. 1, 2010.
"No subsequent payments have been made," noted the lawsuit. "Plaintiff must be paid $1,193,808 in principal on the mortgage note and mortgage, together with interest from Aug. 1, 2010, and all costs ... and reasonable attorney's fees."
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Merrill Lynch wants the home, near Port St. Lucie, sold to pay off the debt, according to the Sun Sentinel. Reynolds and then-wife Anderson took out a $1.5 million mortgage on the home in 1993, which runs through 2019.
Reynolds calls the 12,500-square-foot home "Valhalla," and has had it on the market for $8.9 million as recently as 2009, according to the Stuart News.
"Every evening when I walk my dog down to the gate on U.S. 1 and back to the house, I think, 'Am I crazy?' " Reynolds told the News two years ago. "This is paradise, so why would I want to sell it? Thankfully I don't have to push it until the market gets better."
Reynolds' principal residence is believed to be in Little Rock, Ark.
