This Is How Stephen Baldwin Lost All Of His Money

Stephen Baldwin made a name for himself in movies including "The Usual Suspects" and "The Flintstones in Viva Rock Vegas," per IMDb. But even his fame and celebrity didn't protect him against the ravages of the global recession of 2008 and 2009. Baldwin filed for bankruptcy in 2009, citing that he owed more than $2 million, including two mortgages totaling $1.2 million for a house valued at $1.1 million, per Reuters. He also owed over $70,000 in credit card debt and more than $1 million in back taxes. 

In 2012, Baldwin was arrested for failing to file taxes for the years 2008, 2009, and 2010, per CNN. The outlet reported that he owed $400,000 in back taxes, interest, and penalties. The court waived the interest and penalties, which decreased Baldwin's debt by $50,000. That amount was further reduced to $300,000. Baldwin was ordered to pay it back within a year, or he would be sentenced to five years probation.

The "The Apprentice" actor's financial troubles didn't end there, however. In 2017, his house was foreclosed on because he hadn't made his $7,000 per month mortgage payment in more than six years, per Daily Mail. His debt totaled $1.1 million by 2016. Baldwin bought the four-bedroom, four-bathroom home with an $812,500 loan in 2000.

According to The Blast, Baldwin moved into a small apartment in Queens and chipped away at his tax debt, finally paying it off just before his daughter, Hailey Baldwin, got engaged to Justin Bieber. 

ncG1vNJzZmivp6x7r7XCpKCsr5mbwW%2BvzqZmbW9lZ393e9OhoKxlmah6qbvWZqqtnaCdsq95wZqjna%2BZo3qtu9KtZJqknGK8p3nHoqpmpZ%2Bjsrp7