Monday, July 6, 2015

LeAnn Rimes and Eddie Cibrian Broke?


Insiders whisper LeAnn Rimes and Eddie Cibrian are broke and begging pals to borrow money.

LeAnn Rimes & Eddie Cibrian are pinching pennies these days! When the celebrity pair wanted to buy a $3 million Hidden Hills, Calif., mansion, they just didn't have enough in the bank to cover their new home. "LeAnn and Eddie took out a $2.1 million loan from the bank, but that's all they were qualified to borrow," spills the source.
"They scraped together $550,000 in cash, but the remaining down payment was provided by their pals," which the source says these pals, Dave and Lizzie, might quickly see was a "recipe for a disaster."
If LeAnn and Eddie fail to repay the loan, the Fradins could foreclose on their house!" dishes the source. Documents show LeAnn and Eddie's pal Dave Fradin as the beneficiary of a trust established so the cash-strapped couple could buy their home.
The celebrity pair didn't see the harm in borrowing though, especially since LeAnn's newest album Spitfire might be the savior to pay back their debt, but it turned out to be a bust. "She was the hottest singer 20 years ago, but LeAnn, 32, didn't manager her money properly," says the source. "She burned through her $20 million fortune."
While the families vacation together and the Fradins' two sons are friends with Eddie's boys, Mason, 12, and Jake, 8, they clearly haven't forgotten about the money. Now, LeAnn's husband, who is the CFO of his company, Majestic Asset Management, reaffirmed the debt in May 2015.
The couple are relying on goodwill to keep a roof over their heads.
Jacked from Star Magazine