Photo Credit House: Pacific Coast News

We can’t help but laugh, because THIS is the $2,011,000 house that Kate Jackson bought in Santa Monica because her financial advisor told her to. Kate says her late friend Farrah Fawcett recommended her financial advisor Richard B Francis and after she hired him he proceeded to destroy her financially with bad advice. (Keep in mind, Kate has worked steadily on TV for YEARS and has starred in around five series!) Kate claims that Francis encouraged her to overpay for this modest property in 2008. It certainly doesn’t LOOK like a two million dollar house (especially in a recession) but Kate wasn’t blindfolded. She’s suing the guy for three million dollars.


Posted by Janet on May 12, 2010

There are 19 Comments.  TELL ME WHAT YOU THINK!

19 Comments so far

  1. By Reta
    On May 12, 2010 at

    If she was that much of a fool, and didn’t double check values around the area, then she gets what she deserves. Nobody can sue somebody else because they themselves are STUPID! Maybe she should have had a TEAM of advisors and not just greedily jumped at the first thing this guy told her to do. I wonder if he had any nice bridges he wanted to foist off on her too? What a dumb ass!!

  2. By Mookie
    On May 12, 2010 at

    Nicholas Cage claims the same thing, what a crock of crap. These people are mentally unstable individuals incapable of managing their own business. It’s been rumored for years that Kate is bipolar and highly unstable. Britney would have went broke too if not for her dad taking control of things for her.

  3. By cal
    On May 12, 2010 at

    If someone is a good financial adviser, they are too busy looking afer their own affairs, to be bothered to look after someone elses – they wouldn’t need the $$$

  4. By Sally
    On May 12, 2010 at

    Goes to show you these overpaid actors can’t really think for themselves.

    Common sense is not their friend. And sanity is not Kate’s friend either.

  5. By Fat Frau
    On May 12, 2010 at

    It’s always someone else’s fault. Americans can’t take any responsibility for their poor choices in life.

    I suppose it keeps lawyers fully employed.

  6. By Reta
    On May 12, 2010 at

    What’s it got to do with what country she is from? There are idiots all over the planet!

  7. By Shelly
    On May 12, 2010 at

    That fixer even in Santa Monica is only worth $5ook tops.Doesn’t she watch HGTV even a couple of times a month?

  8. By captain america
    On May 13, 2010 at

    on the other hand:

  9. By Bettye Bluejay
    On May 13, 2010 at

    The other properties around it look pretty good. So, fix it up, sell it, and make money instead of complaining.
    Looks like she made a bad decision with her plastic surgeon with her eyes slanting up to her temples.

  10. By Lenny
    On May 13, 2010 at

    Everyone assumes these people are smart because they read peoples lines written for them. Well in most cases they aren’t.

  11. By strom
    On May 13, 2010 at

    It is said Kate and Farah were also greatly involved in a lesbian relationship. Kate the muff diver was too busy to keep in touch with her finances.

  12. By funky booty
    On May 13, 2010 at

    the best financial adviser is YOURSELF. she should have listened to her instincts on this one.

    also, it’s not hard to become a financial adviser. many people should look into it to manage their own financial affairs.

    reta is right. “wealthy” people tend to have a TEAM of advisers.

  13. By Palermo
    On May 13, 2010 at

    She had cancer a few times and I think she has mental issues, I feel sorry for her.

  14. By sunseeds777
    On May 13, 2010 at

    This is why celebrities are relocating to the middle of the country, where prices are reasonable, not outta wack like in LA or Hollywood.

    Along with Brits and Europeans. Don’t really know why they just don’t invest overseas in growing markets as here in the USA. I mean, why are they shipping all those jobs overseas (because people lie on their resumes, saying they know how to run a machine and essentially destroy it).

    Fortunely for the Chinese if they ever get to that point they’ll atleast be in the country where that certain product is made at.

    Now, just think of all those college kids going to college and for what ? A minimum wage job. And they call themselves smart.

    Course, their overweight too… Who wants them?

  15. By sunseeds777
    On May 13, 2010 at

    Wonder how much money would go for taxes if she wins that settlement.

    She should have gotten into porn as atleast she could have come home with a sore arse every day.

  16. By Generation X
    On May 14, 2010 at

    I feel sorry for Kate because of her health problems and problems in her love life. I think the chemotherapy and radiation must have messed up her mind, because nobobdy would pay even 1/10 this much for a tiny little hovel like this.

  17. By Walt Cliff
    On May 14, 2010 at

    I love looking at some of the homes of celebrities. I’ve seen some that aren’t much bigger than mine and worth a crapload of money in certain areas of California. I remember a website years ago that showed some of the places celebrities live and they showed apts., mobile homes, RVs , mansions….just a little bit of everything and it was very interesting.

  18. By Mookie
    On May 15, 2010 at

    Wait Cliff, so true. If I had the money these dopes have I would do what Demi Moore did and move into the middle of nowhere and build a huge pad. Why spend a million on a dump in LA that doesn’t even look like anything? And pay all those taxes????

  19. By Tom
    On August 1, 2010 at

    Probably sheltered from real life to not know better. Frustrating, but she’s really just a victim. As for this house..I’ve seen pre-fab houses that look better and they rarely go over $80,000.(This looks in 25,000 range) She should sue. Also investigate to see if advisor had secret connections with realitor/seller.


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