Nicolas Cage is being sued after defaulting on a $2 million loan. According to E! Online, court documents state that East West Bank extended Cage a $2m line of credit in August 2007. He defaulted on the loan in November 2008, then entered into an agreement in which he could pay $1,953,732.94 back by January 2011. However, according to the bank, Cage missed his payment in May, and didn’t pay anything in June, July, August or September. He then missed the October 1 deadline to pay $100,000 in outstanding principal sums and interest. Cage, who often makes $20 million per movie, has just finished filming the major motion picture The Sorcerer’s Apprentice for Walt Disney. His latest movie, Bad Lieutenant: Port of Call New Orleans, opens November 20th. Since he’s obviously having no trouble finding work, this raises questions: What’s he doing with his money? Why would he even need a $2 million loan? And why is he selling three of his homes? He currently has a property in Bel-Air that has been on and off the market since October 2006, and he seems desperate to sell. Originally listed at $35 million, it’s now being priced at $17.5 million (he bought it in 1998 for less than $7 million). A year ago, he also had two other homes listed — one in New Orleans and one in Rhode Island.