Elon Musk foreclosing on $13M home after generous loan goes bad

Elon Musk has reportedly begun the foreclosure process on a late movie star’s former Bel Air, California, house that a couple acquired with the assistance of a loan from him.

The 2,750-square-foot house, which actor Gene Wilder called home from 1976 to 2007, was hit with a notice of default late last month, according to The Wall Street Journal. The tech billionaire reportedly used an entity to do so.

The Los Angeles County Consumer and Business Affairs Department explained on its website that foreclosures technically begin with a notice of default and that such a filing "tells you the total amount you owe including missed payments and foreclosure fees."

The Journal reported the current owners, Wilder’s nephew Jordan Walker-Pearlman and his wife, are no longer up-to-date on paying a $6.7 million loan that Musk gave them four years ago because of the 2023 Hollywood strikes.

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That loan helped the couple have the means to cover the $7 million they paid Musk to become the new owners of the property in 2020, according to the outlet. Musk had owned it since 2013.

Walker-Pearlman told The Journal that Musk wasn’t "adversarial or mean" in filing the notice of default, adding, "Elon gave us a magical opportunity. I have no complaints."

Under the notice of default, Musk reportedly has the option to pursue a forced sale after a 90-day period. Musk affiliates indicated that isn’t in their plans, Wilder’s nephew told The Journal.

The couple recently put the home on the market. Its asking price is currently set at $12.95 million, according to its listing with Westside Estate Agency.

"This is likely the closing of a very unicorn and beautiful chapter of our lives," Walker-Pearlman said to The Journal. "I’m not disgruntled at all."

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FOX Business reached out to Tesla seeking Musk’s comment on the house.

The one-time Wilder home "represents a rare opportunity to own a piece of Hollywood history while enjoying the prestige and serenity of Bel Air living," its listing said.

There are four bedrooms and four bathrooms.

Its interior is replete with "original wood-beamed ceilings, cozy fireplaces, and an open layout that enhances the flow of natural light," according to the listing. It also offers entertaining spaces like a circular bar inside.

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The overall property consists of 0.78-acres with multiple outdoor seating areas and a pool.

In Bel Air, the median asking price for a home in July was $7.9 million, according to Realtor.com. The median sale price was $4.2 million.