Tuesday, June 7, 2011

The Hilton's Having Cash Flow Problems?

For some strange reason Cathy and Rick Hilton just took out a $10 million line of equity on their Beverly Hills home.

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.

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.
Jacked from TMZ


Anonymous said...

only dumb people believe celebrities have all the money forbes lists claim they have. how many times do i have to say it? net worth does not equal cash flow. you can be worth a billion dollars but have twenty dollars in cash sitting in your savings or checking account. the rich and famous live on CREDIT not CASH. hence why they're rich today and poor tomorrow. happens all the time.

bogart4017 said...

You can't be suprised. This is what rich people do.

Anonymous said...

Yeah dummies they just borrowed your money to keep them living good. He probably doesn't get his next lumps sum from the trust fund so gotta make ends meet until then.

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