Burt Reynolds owes $1.2 million, faces foreclosure

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"Smokey and the Bandit" star Burt Reynolds has come a long way from his Hollywood heyday in the '70s. The 75-year-old actor reportedly faces losing his Florida home after failing to make mortgage payments.

ABC News reports that Reynolds hasn't made a mortgage payment on his 4-acre Hobe Sound, Florida, estate since Sept. 1, 2010 -- and just shy of the one-year mark since his last payment, lender Merrill Lynch Corp. is filing a foreclosure lawsuit. Now he owes $1.2 million.

This all seems to be coming as a bit of a shock to Reynolds.

"I am as surprised as everyone," Reynolds says in a statement. "I thought my career and my life could not be going better. To all of the people who have had such faith in me and stuck by me through thick and thin, thank you. I know it is not the end of the world."

Reynolds' work, as of late, has included a voice over gig on FOX's "American Dad" and an appearance on a 2010 episode of "Burn Notice."

And at least he's taking the stoic course during his trials. "There are a hell of a lot of other people worse off than I am, and my heart goes out to them," his statement continues. "I will do like I've always done, keep my head up high and continue to move on down the road."
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