BRITNEY AND KEVIN'S $5M LOAN MYSTERY

Published on: July 20, 2005
BRITNEY AND KEVIN'S $5M LOAN MYSTERY

By PATRICIA SHIPP

Britney Spears and husband Kevin Federline have borrowed $5 million as speculation grows that their spend, spend, spend lifestyle is causing a cash crunch.

Two loans for $4 million and $1 million were taken out in May against their Malibu, Calif., mansion. No details have emerged for the reason behind the bank payout, but rumors have been swirling over the couple's finances.

Pregnant Britney, 23, has put her career on hold as she prepares for motherhood. And while she is a multimillionaire, much of her cash is tied up in real estate.

In addition, their eight-bedroom, eight bathroom Malibu house is undergoing expensive renovations. And to add to their bills, the couple have been living it up in $3,000-a-night hotel suites in L.A.

According to New York columnist Cindy Adams, such a free-wheeling lifestyle is taking its toll on Britney's bank accounts. Federline, 27, also has to pay support to his two children with ex-girlfriend Shar Jackson.

Said Adams: "She's a kid, not used to budgeting... and, suddenly, not only is she the [sole] support, she's also supporting Kevin's prefabricated family."