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Brian Austin Green -- Trouble on the Home Front

2/12/2010 2:10 AM PST BY TMZ STAFF

Brian Austin Green is more than $70,000 behind on mortgage payments for his home in the Hollywood Hills -- but according to his rep, it's all part of a calculated real estate move.



SunTrust Mortgage, INC has filed legal papers in Los Angeles which show Green owes $71,251.42 as of January 26, 2010. The docs show Green took out a $2,000,000 mortgage with the company in 2006.

According to the docs, SunTrust has begun the foreclosure process and has the right to put the house up for auction if Brian doesn't fork over the green.

But Green's rep says Brian has worked out a deal to get rid of the house in a "short sale" -- which means SunTrust will allow Green to try and sell the house for less than he owes in order to recover as much money as it can ... subject to the bank's approval.

It's unclear if the mortgage company imposed a deadline on the sale.

35 COMMENTS

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16.

becky    

He is such a great actor... I enjoy watching his shows. They should give him a weekly series on TV, it would beat most of this other crap they are forcing us to watch. Most nights I spend more time flipping thru with the remote than actually watching something... because everything sucks or a rerun for the million and one times.

1651 days ago
17.

Ron    

It's only a "calculated move" if there is a short sale approval pending for real, which is one of the most tedious loan processes out there right now. Most people who attempt it try to get their bank to approve a ridiculously low amount which is rarely agreed to, it has to be reasonable.

9 out of 10 do not get approval and still go to foreclosure.

1651 days ago
18.

RDC    

TMZ employees must like Austin-Green so they say that "it's all part of a calculated real estate move."

1651 days ago
19.

DaJuice    





Now Why The Hell is Megan Fox's Picture With This Story?


Oh wait...because otherwise nobody cares about Brian Austin Green!!



1651 days ago
20.

turkeyfish    

One has to wonder what people are thinking about when even considering this story news.

The irony of seeing some hollywood type in financial difficulties, juxtaposed on Huffington Post next to a picture of a poor Hatian child, whose only home is a plastic tarp makes one wonder why Americans spend so much time wallowing in such gossip, when the world around them is literally falling apart. One can only conclude there are some pretty shallow people out there.

1651 days ago
21.

halucijason    

He still could owe the bank the difference between what he owes on the mortgage and what he got for the short sale even if the bank accepts the short sale so his next calculated move will probably be bankruptcy.

1651 days ago
22.

rachael weiss    

who cares...buh bye....

1651 days ago
23.

John    

Sounds like he took the profit out when they still had crazy high valuations and now is walking away from a upside down deal, which is smart. It is called a strategic walk away and is the smart thing to do. Remember the loan is secured by real estate not him. I wish more people would do that and help bring prices down to where they should have always been.

Pulling out the profit before collapse AND hanging with Megan equals smart in my book.

1651 days ago
24.

blueshifter    

@15: "They should give him a weekly series on TV, it would beat most of this other crap they are forcing us to watch. Most nights I spend more time flipping thru with the remote than actually watching something... because everything sucks or a rerun for the million and one times."

Wow. That is the saddest thing I have ever read. Have you considered turning off the television? They aren't actually forcing you, you know.

1651 days ago
25.

Ronald McDouchebag    

10 years on 90210 and he's broke? come on.

1651 days ago
26.

stark    

megan, dump this deadbeat loser. sucks as an actor and sucks with his money making decisions. you could to much better

1650 days ago
27.

Patrick    

Who's Brian Austin Green?

1650 days ago
Previous 15 Comments | 1 | 2

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