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Paris Hilton's Parents -- The $10 MILLION Mystery

6/6/2011 5:00 AM PDT BY TMZ STAFF

One would think Paris Hilton's parents have billions at their disposal ... but for some mysterious reason, Rick and Kathy Hilton just took a $10 million equity line out of their Bel Air mansion.

0603_hiltons_getty_ex
TMZ has obtained financial documents filed recently at the L.A. County Recorder's Office, which show both Rick and Kathy were approved for the credit line ... and whatever they borrow must be repaid in full by 2021.

It's unclear why the Hiltons have any need for such a substantial credit line -- but as one rich person tells us, "It doesn't mean they're broke ... this thing happens all the time."

Attempts to reach the Hilton family for comment were unsuccessful.

60 COMMENTS

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1.

Undecided    

Its that time for a sequel parent addition ..

1143 days ago
2.

Undecided    

And before some spell check monitor corrects me (edition)..

1143 days ago
3.

dimes    

Cash poor.

1143 days ago
4.

joey _ I love TMZ 'til ya piss me off!    

My Dad knew Rick's Dad - Mine is no longer alive, but the way the father felt about his marriage to Kathy and then Parissssssss'ssss crap. It is no surprise that they are in this sitch! Don't worry! Paris works really, really hard to
ea....hahahaha....ear...hahahahahaha.......earn her money!

1143 days ago
5.

joey _ I love TMZ 'til ya piss me off!    

Actually, Undecided - "addition" could have worked as a pun with the subject matter

1143 days ago
6.

Tammy    

Paris and her mother were on Piers Morgan, Paris said that she was going to open some resorts all over but wouldn't provide much more info, maybe thats why they got the money to help finance their daughters next big gig.

1143 days ago
7.

ken    

Rick's dad, Paris's grandfather, said he's donating his billions to charity. Not to his idiot son & granddaughter.

Lots of smoke and mirrors here. Not as well off as it appears.

1143 days ago
8.

HumanNature    

WHAT TYPE OF INTEREST RATE WILL THEY RECEIVE ON $10 MILLION????

1143 days ago
9.

adb    

Probably for more real estate investments, that's what her father does.

Credit is tighter now, so if they qualify for such a huge credit line it's because the bank knows they will get the money back.

My extended family does the same thing. Buy low, sell high.

1143 days ago
10.

Jackie    

Paris when she did bff show, she never even bothered to find bff in Norway...since her greats are from Norway, I would have assumed her to show a bit interest in Norway than finding a bff in Germany, but heck people forget where they come from. The Nazi bff with Americans....lol...meeee laughing.

Anyway...I guess they're uptight people to care.

1143 days ago
11.

anonymous_cool    

If they are insolvent, they would not be able to qualify for this credit line. In short, the lenders are certain they'll get their cash back. Borrowing is part of business TMZ.

You should try it out sometimes. Invest that money in hiring some proof readers.

1143 days ago
12.

will    

their broke lmao

1143 days ago
13.

TJ    

Tax Offset

1143 days ago
14.

joey _ I love TMZ 'til ya piss me off!    

To Jerry re: those ads - I called TMZ because those ads irritate the sh...Well, I guess they irritate you as well.
TMZ had no response for me, but guess what I found? Above where it says "READER COMMENTS" - Directly above the word COMMENTS, in very, very small letters it says: "Buy a link here" - THAT'S WHERE ALL THOSE STUPID ADS COME FROM!

Oh, and p.s. Happy Birthday again Jackie!

1143 days ago
15.

dee cee    

It cost a lot of money to promote Paris for a gig, and pay off whomever she always offends, abuses and repulses to go away and keep quiet.

1143 days ago
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