Tiger joins the US mortgage market
It seems even the mega rich are not immune to the effects of the global cash crisis if recent reports are true, according to a celebrity website the disgraced golfer Tiger Woods has recently agreed a $36m mortgage on one of his properties sited in Florida.
While hundreds of thousands of ordinary USA real estate owners struggle to keep hold of their properties the super rich golfer is confident that he will have the funds to keep up with the monthly payments and has agreed to complete the loan by early January 2016.
Newly divorced Woods has owned the mortgaged property since 2006 and paid almost $30m for the 12 acre site on Jupiter Island, one of the most expensive areas of USA real estate.
The property still under construction is due to be completed early next year and when finished will feature swimming pools, a tennis court and fitness centre.
The world's highest paid golfer is said to have amassed a multimillion dollar fortune but experts believe he may have forfeited up to $40 million in sponsorship deals in the wake of his 'playing away from home' scandals.