On 3/18/2010 a Notice of Sale was recorded against the title to 363 Copa De Oro Rd, Los Angeles, CA 90077.
That address happens to be the Bel Air mansion belonging to Nicholas Cage ... and the very same property that at one or another time belonged to Dean Martin, Tom Jones and Patricia Arquette.
I first blogged about this property in July 2009 .... commenting about how the property was reduced from the original asking price of $35 Million all the way down to $17,500,000.
I blogged about the property again in September 2009 .... intrigued by the "sealed bid auction" with a minimum bid of $9,950,000. Shortly thereafter the MLS was updated to show that the property was in escrow and "Looking for Backup".
Cage bought the house in 1998 for $6.5 Million, but over the years the property was refinanced and borrowed against several times to the extent (that according to Public Records), over $17 Million is currently owed on (or at least secured by) the property.