Wesley Snipes Faces Financial Crisis

The actor struggles to keep family and self afloat.

Posted: 05/16/2011 11:56 PM EDT
Wesley Snipes’s Finances on the Ropes

While serving time for tax evasion, it seems Wesley Snipes’s world is coming apart.  The New York Post reports that the actor is seeking advice from a lawyer on how to refinance his Alpine, New Jersey, mansion for $1.6 million.

A source says Snipes's attorney is said to be reaching out to a mortgage company that would be willing to refinance the house. The loan would have balloon interest payments that Snipes would have to pay in full when he gets out of jail in 2013.

 

But fighting foreclosure is just one of the Blade star’s problems. "All of Wesley's bank accounts are wiped out,” the source told the Post. “His four kids have nothing to live on."  To remedy the lack of cash flow, Snipes is said to be working on landing an advance on a movie deal, while his lawyer is trying to pin down the income Snipes makes from film and television residuals and merchandising.

 

(Photo: Ben Rose/PictureGroup)

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