Lane Kiffin USC Gave Me $500k for My House, But There's a Catch
What USC giveth ... it can taketh away ... and in the process it could maketh its head football coach homeless.
Coach Lane Kiffin is reportedly raking in more than $2 mil a year. TMZ has learned ... USC wanted Lane so badly, the school gave him a $500,000 loan toward the purchase of an insane $5.5 million mansion in Manhattan Beach.
Now here's the rub: Under the terms of the loan, if Lane gets fired or quits, USC can demand the $500k back, STAT. And Lane has to pay interest to boot.
USC sucked this year and the buzz is that Lane's gettin' a pink slip soon. So the question -- even though Lane makes a pretty penny, can he ante up a huge chunk of change to stay in his house if he gets the chop at USC?
Lane certainly has a lot to lose because the house is sick -- 7,300 square feet, 6 bedrooms, 7 baths and a saltwater pool with a spa. It's the perfect place to reflect on how the hell he let UCLA dominate his team and injure his star quarterback this past season.
We reached out to USC, but so far no comment.
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Honey Boo Boo's House Caution: Redneck Xmas in Progress
Honey Boo Boo and family recently transformed their home for the holidays ... and it's a full blown fire hazard of epic proportions.
Inflatable Santa, inflatable Frosty, inflatable Rudolph -- pretty much every Xmas character ever makes an appearance in their yard (sorry Jesus). The reality TV stars also strung up enough lights to ensure their redneck haven will finally be seen from space ... an Xmas miracle!
The house is SUCH a scene, it even had to be surrounded by caution tape ... you know, just to make sure no one thought they were actually at the North Pole instead.
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Terrell Owens Another Day, Another Loss ... in Real Estate
Desperate times call for desperate measures, especially for unemployed NFL star Terrell Owens -- who just unloaded his massive Georgia crib for waaaaaaaaaay under the asking price.
TMZ broke the story ... the wide receiver has been dropping real-estate left and right (thanks to his dwindling finances) and has already sold off condos in Dallas, Miami and Georgia.
The latest victim in his real-estate purge is a 7,694-square-foot pad outside of Atlanta, which he bought way back in 2000 (i.e. when he had a job with the San Francisco 49ers).
T.O. first listed the house in 2010 for $1.5 million, but didn't actually sell it until now ... when he was willing to let the place go for a measly $694,000 ... a.k.a LESS than half what he wanted.
It's a great deal (for the buyer) who gets 6 bedrooms, 8 baths, a home theater, basketball court, gym, rec room, decks, and a huuuuuge resort style swimming pool.
The lesson here: BUY HOMES IN GEORGIA!!!!!
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Kelsey and Camille DIVORCE FINALLY SETTLED
The epic divorce fight between Kelsey and Camille Grammer is finally over ... they have finally settled their dispute over money and custody ... TMZ has learned.
Sources closely connected to the couple tell TMZ ... the property and custody agreement was hammered out and signed by both Kelsey and Camille. And, it's a long time coming. Camille filed for divorce in July, 2010 and the divorce became final in February, 2011.
The former couple fought bitterly over custody and money for nearly 2 years. They have around $60 million in assets, which includes 3 homes.
One big victory for Camille -- as we first reported, Kelsey had their Beverly Hills home taken off the market so he could live in it and Camille fiercely objected. We've learned under the settlement, the Bev Hills house will now be either sold or leased. If you're in the market, you can snag it for $15,995,000.
All bad things must come to an end.
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Psy HEYYYYYYYYYYY I Bought a Condo ... In L.A.
Psy's on a mission to prove he doesn't hate America ... by snatching up a $1.25 million condo in the heart of L.A. -- TMZ has learned.
The Korean video sensation used his "Gangnam Style" money to purchase a 2,700 sq. ft. pad in the famous Blair House -- an exclusive 29-story hot spot located near Beverly Hills.
We're told Psy wanted to keep the deal super secret -- and even had security around him at all times during the massive transaction ... which he made entirely in CASH, wired directly from Korea.
The cash payment isn't surprising, considering Psy raked in a reported $7.9 million for "Gangnam Style" in the last few months alone.
While the 2-bedroom condo is ridiculously nice ... we're told Psy still plans to remodel the place.
Consider the purchase Psy's second official apology to the US of A ... you know, after he sang that song about killing Americans.
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Rihanna Drops $12 MILLION On Non-Leaky L.A. Mansion
Rihanna's moving on after her leaky Beverly Hills home disaster last year -- plunking down $12 million on a brand new mansion in the Pacific Palisades ... just a few miles away.
The 11,000 sq. ft. house features 7 bedrooms, 9 bathrooms, a cutting edge kitchen, a dining room with a 14-foot ceiling, an outdoor BBQ and bar, a swimming pool, a sun deck, 4-car garage, and a 6,000 sq. ft. backyard.
Not bad, considering Rihanna's last L.A. real estate venture was a nightmare.
As we first reported, Rihanna filed a lawsuit last year against the person who sold her a Beverly Hills mansion, claiming the place was a leaky piece of crap.
Rihanna purchased the home for $6.9 million -- and sold the place last December for a measly $5 million.
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Arnie Klein Bankrupt MJ Doc Dumping Laguna Beach Mansion
Dr. Arnie Klein -- Michael Jackson's now-bankrupt former dermatologist -- has already lost his Hancock Park mansion ... and now he's kissing his enormous Laguna Beach mansion goodbye.
The cash-poor Klein has listed the 3,500 sq. ft. property for $6.63 MILLION. And get this ... Klein tried to unload the property last year, listing it for a cool $12 mil.
Klein's fall has been breathtaking. He was once the premiere dermatologist in Bev Hills ... the dermatologist to the stars, including MJ, Elizabeth Taylor and Cher.
Klein's medical practices were put under a microscope after MJ died. The doc was fueling MJ with huge quantities of prescription drugs, including Demerol -- he injected MJ with Demerol 51 times in the 3 months preceding his death.
Many of the scripts were written using aliases for Michael.
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Seal Locking Down $6 Mil Bachelor Pad
A CHANGE IS GONNA COME for Seal ... at least in terms of where he lives ... 'cause TMZ has learned Heidi Klum's estranged hubby made a formal offer on his very own bachelor pad in L.A.
Our real estate sources tell us ... Seal has been eyeing a 5,500-square-foot mansion in Brentwood recently -- which hit the market 18 days ago for $6 MILLION.
We're told Seal perused the place all week -- and then formally made an offer on the 4-bedroom, 5.5-bath abode after his 3rd visit.
The crib is a panty dropper to say the least -- it's three levels ... runs on green energy ... has floor-to-ceiling windows ... a fireplace in the master B ... a media room ... gym ... and TWO separate kitchens.
Ya know, for entertaining more than one lady at a time. Niiiiiiiice.
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'Idol Champ' David Cook I Sold My Dog-Friendly Pad For $1.3 Million!!!
If you love dogs and you love "American Idol" ... then you just missed the opportunity of a lifetime, because David Cook unloaded his Hollywood mansion -- and it came with it's own customized DOG YARD!!!!
The Season 7 "Idol" champ recently sold off his Beachwood Canyon pad -- which has a killer view of the Hollywood sign -- for a cool $1,365,0000.
The 3,000-sqaure-foot house is pretty amazing too ... it's rockin' 3 bedrooms, 2.5 baths, wrap-around decks, and a FULL recording studio.
But best of all, it features a specially-designed dog yard -- which non-dog owners would call ... a yard.
UPDATE: We realized you might need a refresher on who David Cook is ...
You're welcome.
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Michael Jordan I'm Building a $12.4 Million Cigar-Smoking PARADISE
Consider the world record for "largest humidor ever" broken -- Michael Jordan's $12.4 MILLION Jupiter, FL palace is juuust about ready to move in to ... and it features an insane cigar-friendly home theater.
His Airness -- rarely seen these days without a tightly-rolled Cuban between his teeth -- has been building the 28,000 square foot estate for the past three years, complete with a giant state-of-the-art home theater ... outfitted with special equipment made to handle mass amounts of cigar smoke.
The 3-acre, 11-bedroom compound is being built in the middle of an ultra-exclusive golf course community called the Jack Nicklaus' Bear Club ... where Tiger Woods also lives.
It's unclear where Jordan plans to display his 5 MVP trophies and 6 NBA Championship rings ... but between the main house, the pool house, the guest house, and the 2-story guard house ... he's got plenty of choices.
FYI -- There's also a ridiculous athletic facility ... complete with b-ball court, naturally.
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Elin Nordegren's New Mansion How Swede It Is
Elin Nordegren -- the very rich ex-wife of Tiger Woods -- apparently has an acute case of Stockholm Syndrome -- because she can't shake her Swedish roots.
Take a gander at the 21,000 square foot mansion she's building in North Palm Beach, FL ... with a Swedish flag firmly planted atop one of the chimneys.
You may recall, Elin bought the home with the $100 mil she got in the divorce settlement. She paid $12.2 mil, then promptly knocked down the existing 17,000 square foot home and built a shiny new one.
Good news ... the pool, spa and koi ponds are now completed.
One thing for sure isn't in the plans ... a Tiger.
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Lindsay Lohan I Can Barely Pay My Rent!
Lindsay Lohan's financial situation is so dire, she is struggling each month to pay the rent on her Beverly Hills mansion ... TMZ has learned.
According to our sources, Lindsay has been scraping together the money to pay her $8,000 rent. We're told Lindsay signed the lease on the home back in February ... when her career was on the upswing and the money seemed to be rolling in.
But according to our sources, when Lindsay's finances took a turn for the worse (like when the IRS seized her bank accounts) she began doing whatever she could to make rent each month, often hitting up friends for money.
Lindsay tried to get out of the lease and move out early, but we're told the owners of the home told LiLo the penalty for breaking the lease was MASSIVE.
So Lindsay is making it work until the lease is over in February and LiLo is telling friends she'll then look for a place in New York.
Maybe Dina needs a roommate.
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Lindsay Lohan Sabotages Big Reveal on 'Million Dollar Decorators'
Lindsay Lohan nearly torpedoed her episode of "Million Dollar Decorators" on Bravo -- after the network spent roughly $200,000 renovating Lindsay's Beverly Hills mansion -- because TMZ has learned she refused to film the big reveal moment for the show.
Sources close to Lindsay tell us she agreed to film the segment for the show earlier this year -- and in exchange, the people behind MDD spent $200,000 on expensive furniture and other trappings for her house ... which Lindsay's now renting for $8,000 a month.
We're told Lindsay was initially cooperative -- filming a furniture shopping segment back in March and spending several more days shooting in the home before the renovations.
The show then went to work on the house -- filming the entire renovation process -- but when it came time to shoot the big reveal in April, Lindsay stopped returning their calls.
Lindsay's since been living in the house -- and according to sources, the home is now so messy ... it's completely unfilmable.
We're told MDD producers have since decided to use canned post-renovation footage (without Lindsay) as the big reveal moment.
Calls to the network were not returned. The episode's scheduled to air early next year.
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Allen Iverson I'm Fighting My Atlanta Mansion Foreclosure
Former NBA star Allen Iverson isn't just gonna stand by and watch while his Atlanta mansion hits the foreclosure auction block -- TMZ has learned he's already filed legal docs to put a stop to the sale.
TMZ broke the story ... Iverson's $4.5 million mansion was scheduled to go up for auction on December 4th after he allegedly defaulted on a $1.2 million mortgage.
But before the sale took place, Iverson quickly filed a lawsuit against the lender that's trying to take the home, claiming he never consented to the loan.
Iverson claims his estranged wife -- with whom he's going through a nasty divorce -- signed for the mortgage in order to screw him ... by agreeing to financial terms he couldn't meet.
The lawsuit has since put a hold on the foreclosure proceedings ... buying Iverson some extra time.
Calls to Iverson's camp and the lender he's suing have not been returned.
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Sam Ronson Check Out My New $800k Lady Nest
Lindsay Lohan's ex-girlfriend / neighbor Sam Ronson has officially moved on to bigger and better things ... 'cause the DJ dropped over $800k on a sick new house in Santa Monica.
Sam recently ditched her Venice pad -- which famously sat right next door to LiLo's place -- and picked up an 1,170-square-foot bungalow earlier this month ... just a few miles away in a different beach town.
The 2-bedroom, 2-bath crib is pretty sweet too ... rockin' hardwood floors, a completely finished backyard, fire pit ... and best of all it's 7 blocks from the ocean.
According to docs, Sam managed to drop $184,500 for the down payment -- leaving her with a $625,000 mortgage.
So it seems both girls are doing well. Sam has a new house ... and LiLo has "Liz and Dick", "The Canyons" ... um, yeah.
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Allen Iverson Buried in Bills ... But Drives a Maybach
Former NBA star Allen Iverson is digging himself into a giant financial hole -- with monthly bills that largely outweigh his monthly income -- but the good news is ... he's still got his fancy-schmancy Maybach.
Allen recently filed docs in GA court as part of his nasty divorce battle with his ex Tawanna Iverson which outline his dire financial situation.
According to docs, Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater ... costing him a cool $358,376.66 PER MONTH!!!!
So where does all his money go?
A large chunk -- $125,749.33 to be exact -- is spent paying off various creditors (like his jeweler) ... and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).
But Allen says he blows a lot on OTHER expenses too ... like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants ... and so on.
All in all, Iverson -- who reportedly made over $150 MILLION during his NBA career -- says he ends up in the hole each month to tune of $295,876.66. Ouch.
Despite the mounting debt though, he's still got his Maybach (which is fully paid off) ... and reportedly worth between $340k - $400k.