Olsen Twins Dad Broke, Facing Foreclosure

Mary-Kate and Ashley Olsen’s dad has filed for bankruptcy and is facing foreclosure on his California home.

Despite fathering the billionaire twentysomethings, David Olsen has fallen behind on the mortgage on his Tarzana, California home and must fork over more than $2.1 million to the bank if he wants to save the property from foreclosure.

According to documents obtained by The National Enquirer, the stars’ dad, his second wife McKenzie, and their two children will be forced out of their home on July 9 if they fail to settle their debt and the property will be sold off at a public auction.

An insider tells The Enquirer: “It’s surprising that Mary-Kate and Ashley have not helped their dad. They have always been close to both their parents, even after Dave and their mom divorced. Unless his mega-rich daughter come to the rescue, their father, and their stepmother will lose their home on July 9.”

The Olsens, now 24, are the chief executive officers of Dualstar Entertainment Group — a multi-billion dollar corportion, which produces films, TV shows, books, videos, CDs, and games featuring Mary-Kate and Ashley. Friends close to David and his daughters have been left scratching their heads over the twins’ unwillingness to help their father.

“Something is wrong now. Over the years, The Olsens were all close but along the way maybe something has changed. He’s behind on mortgage payments and won’t be able to stop the auction unless he gets his hands on $2 million. Hopefully, Mary-Kate and Ashley will help before it’s too late.”