Eighties pop star Deborah Gibson has dismissed reports she's become the latest celebrity victim of the economic crash, and her home is going into foreclosure. The singer's publicist insists the reports are wrong and Gibson is simply moving out of her home and in with her boyfriend Rutledge Taylor.

She says, "Much to the chagrin of media everywhere, Deborah is simply moving in with her boyfriend of the last year. As we all know, this is the right time to sell."

But Gibson will be taking a financial hit on the house - she's selling it for $995,000 - almost $200,000 less than what she paid for the property in 2005.

Gibson plans to auction off the property, according to UsMagazine.com.



Click the pics for gallery & larger images

(This news article provided by World Entertainment News Network)