Money troubles? West Wing star Allison Janney's Palm Springs property on market for more than $2m... after bank repossession

By Hayley Coyle

PUBLISHED: 20:18 EST, 26 November 2012 | UPDATED: 02:41 EST, 27 November 2012


Actress Allison Janney has lost her Palm Springs property to foreclosure.

The former West Wing star bought the sprawling desert-town house in 2006 with one of her oldest friends for almost $4 million as an 'investment' but failed to sell the property on. 

And now banks have repossessed it and put it back on the market for almost half of what Janney paid.

Sad foreclosure: The West Wing actress Allison Janney has lost her Palm Springs property. Banks have repossessed the California house and it is back on the market for more than $2 million

Sad foreclosure: The West Wing actress Allison Janney has lost her Palm Springs property. Banks have repossessed the California house and it is back on the market for more than $2 million

The Drop Dead Gorgeous star currently lives in Los Angeles in a house she bought last year
The Drop Dead Gorgeous star currently lives in Los Angeles in a house she bought last year

The Drop Dead Gorgeous star currently lives in Los Angeles in a house she bought last year for nearly $900,000

According to Radar Online the friends first tried to sell the place back in 2010 for $5.5 million...but no takers.

Seven months later they dropped the asking price to $4,4950,000 but again no one was interested in taking the property, which boasts breath-taking views of the Palm Spring Valleys, off their hands.

By last year the price was down to just under $4 million.

Investment: The 53-year-old actress reportedly bought the property with an old friend in 2006 for almost $4 million

Investment: The 53-year-old actress reportedly bought the property with an old friend in 2006 for almost $4 million

Couldn't get it off their hands: The pair tried in vain to sell the property over the past few years but there were no takers

Couldn't get it off their hands: The pair tried in vain to sell the property over the past few years but there were no takers

The website also claim that their lenders took the property, which was once owned by the late actor William Holden, over last month.

It is unclear whether or not Janney, who recently had a major role in The Help, actually lived in the house but she currently resides in Los Angeles in a home she bought last year for almost $800,000.

Meanwhile Janney is set to star in a short YouTube film with Dakota Fanning about a woman's right to choice with abortion,

Speaking to CNN recently she said: 'It's very thought provoking.

'I read the script and I believed in a woman's right to choose, and this is how I'm political in doing projects like this.

'I think this opens up a dialogue with people who watch, and even those people who are pro-life can watch it and appreciate it.'

Stunning: The sprawling property boast breath-taking views of the Palm Springs Valley

Stunning: The sprawling property boast breath-taking views of the Palm Springs Valley

Luxury: The house sits on 3.7 acres and boasts five bedroom and five bathrooms

Luxury: The house sits on 3.7 acres and boasts five bedroom and five bathrooms

Privileged: The property is part of an exclusive gated community and was also once owned by William Holden

Privileged: The property is part of an exclusive gated community and was also once owned by William Holden


 
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She just gets more and more beautiful.

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"According to Radar Online the friends first tried to sell the place back in 2010 for $5.5 million...but no takers." Bought in 2006- four years to do a flip??!? Her "friends" better be great company- they certainly don't get California real estate-

Click to rate     Rating   17

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It would have helped if she'd had the house "furnished" ....sellers do it all the time to avoid the sterile look this property has. It takes a few bucks, but it usually pays off in the end.

Click to rate     Rating   15

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Did anyone who mentioned living outside her means, etc.....read the article? she bought it as an investment prop with another....IT as time to cut/run. nothing to do with her personal income you nitwits.

Click to rate     Rating   20

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Not sure who she is but she doesn't half look sexy!!!!

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If they wanted to sell it for that amount of money they should have really done some renovating, it needs seriously updated. Especially in Palm Springs.

Click to rate     Rating   26

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Buy high, sell low! All kidding aside, she bought it near the market high, overpaid, and unless she was able to rent it out long term at some exorbitant rate, it was doomed to fail as an investment property.

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Shouldn't have overextended should she?

Click to rate     Rating   17

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i want to be in that pool now with a cold drink

Click to rate     Rating   81

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Is she still single? Hmm...

Click to rate     Rating   23

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