Mary-Kate And Ashley Olsen's Father Files For Bankruptcy

Mary-Kate and Ashley Olsen's father David has filed for bankruptcy and is reportedly facing foreclosure on the Tarzana, California home he shares with his second wife McKenzie.

Olsen has fallen behind on house payments and he owes the bank nearly $2.2 million, and the National Enquirer reports that the couple will be forced out of the house on July 9 if they can't settle their debt. A source tells the gossip rag, "David almost lost his home in 2009 because he had several tax liens but managed to borrow enough money to cover them. But he's in a worse position now because he's behind on mortgage payments and won't be able to stop the auction unless he gets his hands on $2 million."

Think Mary-Kate and Ashley will cough up some of their millions to help their dad out? We're not sure what kind of relationship they have with their step-mom McKenzie, but now would definitely be the time for her to play nice with the twins!