Johnny Depp secures loan to preserve iconic Hollywood home from foreclosure

Johnny Depp has managed to avoid a significant loss by securing a $10 million loan to rescue his two houses in West Hollywood.

The foreclosure amount of $4.28 million for the smaller house was fully paid by Depp back in 2016.

Whereas, the actor has to take out a massive eight-figure loan to save his other castle-shaped house which went into default of five million dollars in 2018.

Johnny Depp's second house is famous for its uncanny resemblance to Bavarian Castle.

Dailymail reports that actor took the loan, after spending 650 million dollars on litigation with Amber Heard, from 'City National Bank' famously known as 'Bank to the Stars' due to their deals with showbiz stars.

The house virtually hidden from view is located on a cul-de-sac behind lush foliage and was purchased by the Captain Jack Sparrow actor in 1995 for 2.15 million dollars.

The New York Post reports that the house is in a deteriorated shape with overgrown trees surrounding the property.

Johnny rarely keeps his presence at home despite doing everything to keep the ownership. He spends most of his time in his island home in the Bahamas.

Currently, Depp is on a tour to Europe with his band named Hollywood Vampires which he had formed with Joe Perry and Alice Cooper.

Their latest performance was on Monday in London.