Arts & Entertainment

Tori Spelling and Hubby Dean McDermott Renege on $400K Loan, Bank Says

Tori Spelling, daughter of one of the most successful producers in TV history, has admitted to money problems from bad real estate deals.

LOS ANGELES, CA -- Tori Spelling and husband Dean McDermott were sued Tuesday by City National Bank, which alleges they are delinquent on a $400,000 loan.

A representative for the reality TV stars, who are awaiting the birth of their fifth child, could not be immediately reached for comment on the bank's breach of contract suit.

The complaint filed in Los Angeles Superior Court states that the couple took out the loan in December 2012 and now have an unpaid principal balance that, with interest, totals $188,800.

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The balance is immediately due because the actors "materially defaulted" by not paying the regular monthly payments, according to the complaint.

Spelling, 43, and McDermott, 50, did not satisfy their obligations despite being sent a demand letter on Dec. 2, the suit states.

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"Interest, attorneys' fees and costs continue to accrue," the suit states.

City News Service; Photo: Loren Javier via flickr.com

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