Hollywood rumors have been buzzing…are PARIS HILTON‘s parents broke? They just took out a $10 million equity on their swanky mansion in Bel Air. Isn’t her dad Richard Hilton heir to the international Hilton hotel chain and part owner of Beverly Hills brokerage firm, Hilton & Hyland? What would they need the money for? Is there big financial trouble looming in Paris‘ glitzy world? What gives?
Financial documents show that Richard and Kathy Hilton were granted a credit line for $10 million which they have to repay by 2021, and while that’s 10 years away, $1 million a year is plenty, considering the real estate market is a black hole ready to swallow the rest of the U.S. economy.
Is this why Paris has resorted to stripping on her reality show to bail her parents out? Hmmm…what are the chances things are not as they seem?
Image via WENN