Father of Mary-Kate and Ashley Olsen Reportedly Files for Bankruptcy


Mary-Kate Olsen, Ashley Olsen


David Olsen allegedly files the documents after falling behind on payments for his property in Tarzana and owing the bank almost 2.2 million dollars.

Mary-Kate Olsen and Ashley Olsen's father has filed for bankruptcy and is facing foreclosure on his California home, according to a U.S. report. David Olsen, who fathered the billionaire twins with his first wife Jamie, has fallen behind on payments for his property in Tarzana and owes the bank almost $2.2 million.

According to documents obtained by the National Enquirer, the stars' dad and his second wife McKenzie will be forced out of the house on July 9 if they fail to settle their debt and the property will be sold off at a public auction. But it's not the first time Olsen Sr. has faced financial difficulty - he reportedly struggled to cover his tax debts in 2009 too.

An insider tells the Enquirer, "David almost lost his home in 2009 because he had several tax liens but managed to borrow enough money to cover them. But he's in a worse position now because he's behind on mortgage payments and won't be able to stop the auction unless he gets his hands on $2 million."

© AceShowbiz.com


MORE FROM NEWS

Leave a Comment

Required fields are marked with *

   

TODAY'S HEADLINES

  1. Charlie Sheen Opens Up About His Wild Night With Lindsay Lohan: 'She Literally Tucked Me In'
  2. It's Over! Kim Kardashian 'Pulling the Plug' on Her Marriage to Kanye West
  3. Khloe Kardashian Reveals Secret to Her Big and Perky Butt
  4. Britney Spears Freaks Out After Sex Tape Leaks Online
  5. Angelina Jolie Demands Brad Pitt to Keep the Kids Away From Jennifer Aniston
  6. Report: Drake Dating Legendary Singer Sade Adu
  7. Ryan Gosling May Dump Eva Mendes as Reports of Her Past Affair Emerge
  8. Report: Generous George Clooney Under FBI Investigation for Money Laundering
  9. Zac Efron Left Paris Jackson Heartbroken Nearly a Decade Ago
  10. Sleepyhead Madonna Leaves Kids Starving at Daughter's Birthday Bash

CELEBS PHOTO