Meghan Markle and Prince Harry’s departure from the royal family has proven to be a tumultuous journey, as they now face mounting debt and are forced to consider leaving their Montecito home.
According to Harvey Levin, an esteemed American television producer and celebrity reporter, their decision to seek freedom and independence has backfired.
Currently, the couple’s Montecito residence is being advertised on real estate forums for rent or sale, indicating their desperate need for financial stability.
It has been revealed that Meghan Markle occasionally resides in Los Angeles with her mother and also maintains a room at the prestigious Beverly Wiltshire Hotel.
However, her primary dwelling is at the exclusive San Ysidro Ranch, known for its frequent celebrity sightings.
It is no secret that Meghan Markle has always harbored dreams of becoming a Hollywood starlet.
Her proximity to celebrities in her new neighborhood has only fueled her aspirations, as she actively seeks connections with A-listers.
This desire for fame and recognition has become a driving force in her life.
A source named AM Bike recently disclosed on Reddit that the Sussexes purchased the Montecito mansion in June 2020.
The property was acquired under a trust, a common practice in the US to ensure privacy.
Setting up such a trust typically incurs minimal costs, particularly for those already engaged in estate planning.
The mortgage for their luxurious abode amounts to nearly $10 million and is held with City National Bank, a Beverly Hills-based institution owned by the Royal Canadian Bank.
This bank frequently handles mortgages for A-list celebrities, making it a popular choice among the elite.
Despite their best efforts, the Sussexes have struggled to sell the property since its purchase in 2020.
Reports suggest that moving vans were spotted at the Sussexes’ residence long before rumors of their potential move to Hope Ranch emerged.
It appears that they have been attempting to extricate themselves from this financial burden for over a year and a half.
While leasing the property to raise funds is a possibility, they may also consider a lease purchase agreement to attract potential buyers.
It is worth noting that the Montecito mansion had been on the market for more than five years prior to the Sussexes’ acquisition.
Contrary to some speculations, the couple did not film their Netflix documentary at this location.
Additionally, rumors of their departure from Montecito to Hope Ranch indicate that they have not resided in their current home for quite some time.
Living in California comes with a hefty price tag, particularly in desirable areas such as Montecito or the upscale neighborhoods of Los Angeles.
To maintain their desired standard of living, the Sussexes would require substantial wealth.
Unfortunately, they overestimated their financial prospects, assuming that their popularity would lead to lucrative opportunities.
Moreover, their choice of Montecito was driven by the desire to connect with influential figures and celebrities who reside there.
Meghan Markle envisioned forming close bonds with these prominent individuals, hoping they would become her closest allies.
As the Sussexes face mounting financial pressures and attempt to navigate their way out of this predicament, it remains to be seen how they will resolve their current situation.