Nicolas Cage Loses 2 Homes in Foreclosure Auction

Even Academy Award winners are suffering from financial woes this recession. Actor Nicolas Cage lost two homes in New Orleans worth a total of $6.8 million in a foreclosure auction Thursday.

Birmingham, Ala.-based Regions Bank purchased Cage's 1140 Royal Street property in the French Quarter appraised at $3.5 million for $2.3 million. The bank, which has about 1,900 branches throughout the South, Midwest and Texas, paid $2.2 million for Cage's 2523 Pataniya Street property appraised at $3.3 million in the Garden District.