Foreclosure threatens Wayne Newton homes
Las Vegas is one of the epicenters of the nation's foreclosure tsunami, with a foreclosure rate that is often highest among the nation's metro areas and usually six or seven times higher than the national average in RealtyTrac's monthly reports.
So maybe it's not too surprising that the foreclosure flood appears to be threatening homes owned by Mr. Las Vegas himself.
According to RealtyTrac, a Notice of Default was filed on a 2,500-square foot Las Vegas home owned by Wayne Newton in February. A Notice of Trustee's Sale on the property was originally recorded in June, scheduling the property, which sits on a massive lot of 54,450 square feet, for public foreclosure auction on Wednesday, Sept. 16. A representative who answered the phone number of the trustee in charge of the sale said the property had restarted the foreclosure process on Sept. 16 and was back in pre-foreclosure. The property was purchased for $500,000 in 2002, and the estimated loan balance is $388,074, according to RealtyTrac.
Another property literally just around the corner and also owned by Newton was scheduled for foreclosure sale on Oct. 13, with an estimated opening bid of $306,000, but the automated trustee sales line said the sale has been canceled -- for which someone is likely singing "Danke Schoen."
