Jailed Wesley Snipes to mortgage his house for USD 1.6m

The already jailed Wesley Snipes seems to be in jeopardy as he has been seeking advice from a lawyer on how to refinance his Alpine, NJ, mansion for 1.6 million dollars.

"All of Wesley's bank accounts are wiped out. His four kids have nothing to live on," the New York Post quoted a source as saying.

Snipes' attorney is said to be reaching out to a mortgage company that would be willing to refinance the house.

Sources say the loan would have balloon interest payments that Snipes would have to pay in full when he gets out of jail in 2013.

The 'Blade' star is working to land an advance on a movie deal, while his lawyer is trying to pin down the income Snipes makes from film and TV residuals and merchandising.

"As you can imagine, it is true that his family is having financial challenges, mainly due to his current situation," added the source without commenting much on the movie.

Read More

Wesley Snipes in custody for jail sentence

Wesley Snipes is reportedly due to begin a three-year prison sentence for tax evasion.

TMZ reports that the actor, who was found guilty of multiple charges in 2008, was ordered to surrender himself to authorities in order to serve his sentence.

Snipes is now understood to be in the custody of federal authorities, and is "in transit" to a federal prison.

Earlier today, US district judge Terrell Hodges ruled that Snipes's appeal against his sentence had no grounds.

Judge Hodges said in a ruling: "The defendant Snipes had a fair trial.

"He has had a full, fair and thorough review of his conviction and sentence by the Court of Appeal; and he has had a full, fair and thorough review of his present claims, during all of which he has remained at liberty.

"The time has come for the judgement to be enforced."

Read More