Death, taxes, and Baldwins: Two are inescapable, and guess which one is bankrupt

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He's a celebrity -- get him out of debt! Stephen Baldwin, the actor and perennial reality show contestant, has filed for bankruptcy, according to the Wall Street Journal and papers filed in the U.S Bankruptcy Court in New York.

The Journal says Baldwin and his wife Kennya owe $1.19 million on two mortgages for his New York State home, which is valued at $1.1 million. On top of that, he owes big on taxes, too: $749,974 owed to the IRS, $139,288 for unpaid withholding taxes, and $194,527 in unpaid state income taxes. He's also shouldering some $70,000 in credit card debt. Add those up, and you get more than $2.3 million.


After he sneaks away from all those expenses (leaving lenders holding the bag), perhaps Baldwin could find a future in the ministry. In June, he baptized Spencer Pratt in a Costa Rica river on NBC's I'm a Celebrity...Get Me Out of Here. If he can save Pratt's soul -- let alone find it at all -- then surely he's worth being paid a fortune.

Baldwin has been no less aggressive about proselytizing in his private life. In 2006, he stood outside a Nyack porn shop and vowed to take photos of every patron in order to shame them into staying home -- and put the store out of business.

So perhaps he'll connect with this verse as he builds his credit back up from zero:

"Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, saying, 'This fellow began to build and was not able to finish.'"

That's from Luke, and no, he wasn't a Baldwin brother.
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Another Bankrupt Star
He's a celebrity -- get him out of debt! Stephen Baldwin, the actor and perennial reality show contestant, has filed for bankruptcy! Check out the other celebrities who have gone bankrupt, lost their homes, etc
Tim Whitby, WireImage
Vince Bucci, Getty Images

Celebrity Foreclosures

    DMX's Arizona home is under foreclose as the rapper is in jail on charges of animal cruelty, drug possession, and theft. He paid $600,000 for the house in 2003, which was put on the market by a local bank for $429,000. Police raided the property in August 2008 to find an illegal dog fighting kennel and graveyard of burned and maimed pitbulls. DMX will be sentenced on January 30, 2009.

    Bryan Bedder, Getty Images

    Judy Vardon, who was featured in a 2004 episode of Extreme Makeover: Home Edition with her husband and blind, autistic son, may be facing foreclosure because the family cannot afford the mortgage payments on their home.

    Frederick M. Brown, Getty Images

    'Extreme Makeover' House I
    Sadie Holmes of Altamonte Springs, Fla., does charity work from her house remodeled two years ago on ABC's 'Extreme Makeover: Home Edition.' Early October reports said Holmes could lose the house over a $29,000 county lien placed on the property after months of code violations racked up.

    Hilda M. Perez, Orlando Sentinel / MCT

    'Extreme Makeover' House II
    The Harper family home in Clayton County, Ga., which was rebuilt on an episode 'Extreme Makeover' in 2005, went into foreclosure this summer after the family used the house as collateral for a $450,000 loan and couldn't meet the payments.

    Michael Buckner, Getty Images

    American Idol winner Fantasia Barrino is not facing a bank foreclosure, but may nonetheless lose her $1.3 million Charlotte home when a company she owes money puts it up for auction in January.

    Leon Bennett, WireImage

    Damon Dash
    Foreclosure proceedings began in August against the hip-hop mogul over unpaid mortgages on two Manhattan apartments. Eastern Savings Bank says the Roc-A-Fella Records co-founder and his wife owed more than $7 million on the properties.

    Gary Gershoff, Wire Image

    Ed McMahon

    CREDIT

    CAPTION


    The former "Tonight Show" personality made "a confidential deal" in August to sell his Beverly Hills home after falling behind on payments.

    Matt Sayles, AP

    Scott Storch
    The hip-hop producer went into foreclosure in July on his $10 million Miami mansion, according to The Palm Beach Post. He also had his Ferrari Scaglietti and his prized motorcycle, a Bones Bike, repossessed.

    Wilfredo Lee, AP

    Vin Baker
    The former NBA player has also been stung by the wave of foreclosures sweeping the U.S. Baker's 9,300-square-foot Georgian brick colonial Durham, Conn., home -- which has six bedrooms, a two-lane bowling alley, basketball court, guest house and pool -- was auctioned for $2.5 million in July.

    Charles Krupa, AP

    Ernestine Anderson
    The jazz vocalist faced a foreclosure on her Seattle home. Public records showed that she was more than $30,000 in arrears in payments and penalties.

    Jonathan Ferrey, Getty Images

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