Reality Star Kristin Cavallari loses family home to foreclosure

Foreclosures have been a problem for the nation’s middle and working class since the housing market crashed, but they aren’t the only demographic that faces the possibility of losing their homes. Even the rich and famous have to deal with this problem on occasion, such is the case of reality star Kristina Cavallari, whose family home just got sold at a foreclosure auction.

The home, which was once featured in an episode of “Laguna Beach,” was owned by Kristina’s father and her step-mother and went up for auction in February. The OC Register reported that Dennis, Kristina’s father failed to make payments on his $7,599,458.66 mortgage.

Whether a homeowner is wealthy or not a foreclosure attorney can help them avoid losing their homes if they are willing to fight.

The five bedroom, six bath house with an infinity pool, yoga room and wine cellar was sold by OneWest Bank for $6.1 million. The luxurious house located in an exclusive Laguna Beach gated community has its own private beach.

Since the real estate market crashed there has been an increase in the number of luxury homes entering the foreclosure process. A foreclosure lawyer could help these wealthy homeowners appeal for a mortgage modification or take other steps, but many of these individuals choose to walk away from a home because they owe more than the home is worth, called a strategic default.

Hiring a foreclosure attorney means a homeowner will get the best advice on how to handle their impending foreclosure.