USHUD.com reviews the most outrageous foreclosures here in our Feature series entitled “Mega-Foreclosures”
This article is a follow-up to a television show called “The Queen of Versailles” the show was filmed over the course of several years. At the end of filming the Queen and her wealthy husband were in a downward spiral. Today they are in a much better place.
David Siegal and his wife Jackie were once at the top of their game. The problem was the game they were playing was called “Stupid ways to spend money” which was all the range in the latter part of last century and the first 7 or 8 years of this century.
It was as if the 80’s had come back from the past to revisit its evils on us with the same temptations of train wreck like excess. (Can’t stand to watch it but can’t look away either) More car, clothes, you name it and someone was willing to sell you a matching pair of the only one in the world.
USHUD.com reviews the cycle that trapped them. The Siegals were highly leveraging their time share business when the real estate bubble burst. And the house of cards came tumbling down on everyone’s head.
Their heads were just bigger than most, sort of like 80’s hairstyles.
The house they were building they lovingly called Versailles as the french castle was their inspiration for creating the largest American residential property. At over 100,000 square feet it would in deed be large but before Being able to complete it, the bubble burst, the chickens came home to roost and their mansion was owned by the bank. Reports are that they bought it back and thank goodness for it because the home is a wonderful for all of us that enough can be too much.