Singing star Wyclef Jean, former member of the Fugees and an independent artist, has had his
Miami home foreclosed upon. The home, under construction, has a 2.4 million loan due to Home Equity Mortgage Corp.
With the economic downturn, banks and lenders are not cutting any slack. Even celebrities which lenders in the past would give some leeway to are now being held to a higher standard.
The $2.4 million waterfront mansion on Pine Tree Drive is now owned by a bank.
The house is scheduled to be sold at the Miami-Dade Courthouse next month, along with a handful of liens by the construction crews, who never finished, and more than $100 thousand in unpaid taxes.
Neighbors were surprised by the news. “I really think he’s a great musician and he’s come a long way and gone through a lot in terms of his history and his life,” said neighbor Sara Poses. “I don’t know what the circumstances are but I feel bad for him.”
Miami home foreclosed upon. The home, under construction, has a 2.4 million loan due to Home Equity Mortgage Corp.With the economic downturn, banks and lenders are not cutting any slack. Even celebrities which lenders in the past would give some leeway to are now being held to a higher standard.
The $2.4 million waterfront mansion on Pine Tree Drive is now owned by a bank.
The house is scheduled to be sold at the Miami-Dade Courthouse next month, along with a handful of liens by the construction crews, who never finished, and more than $100 thousand in unpaid taxes.
Neighbors were surprised by the news. “I really think he’s a great musician and he’s come a long way and gone through a lot in terms of his history and his life,” said neighbor Sara Poses. “I don’t know what the circumstances are but I feel bad for him.”
T-BOZ OF RAP GROUP TLC LOSING ATLANTA HOME TO FORECLOSURE
It looks like another Atlanta Rap Star, T-Boz of the 90’s girls group TLC, is losing her home to foreclosure. The home valued at 1.5 million is being foreclosed over a 530,000 dollar loan. 
These times are hard for all I guess. She joins Evander Holyfield as famous Atlantan’s to face foreclosure.
One huge difference is that in Atlanta a million dollar plus home is huge, while on the coasts they are much smaller so the expenses are much higher on the Atlanta homes.
We’ve learned a five-bedroom, nearly 10,000-sq. ft. house owned by T-Boz (real name: Tionne Watkins-Rolison) is about to go on the auction block in January 2009.
According to public records, she’s defaulted on the original principal of her mortgage (around $530K), and so now the state is taking it. via TMZ.com.
These times are hard for all I guess. She joins Evander Holyfield as famous Atlantan’s to face foreclosure.
One huge difference is that in Atlanta a million dollar plus home is huge, while on the coasts they are much smaller so the expenses are much higher on the Atlanta homes.
We’ve learned a five-bedroom, nearly 10,000-sq. ft. house owned by T-Boz (real name: Tionne Watkins-Rolison) is about to go on the auction block in January 2009.
According to public records, she’s defaulted on the original principal of her mortgage (around $530K), and so now the state is taking it. via TMZ.com.
OLD SCHOOL RAPPER HAS NO SCRATCH
The Human Beat Box is taking a financial beating.
Rap icon Doug E. Fresh - best known for his '80s hit "The Show" - has been socked with three
foreclosure actions by banks looking to collect more than $3.5 million in unpaid mortgages on a trio of his Harlem homes.
The rapper, 46, also is being chased by American Express for nearly $60,000 in credit-card debt, and the IRS just slapped him with a $367,000 tax lien on top of more than $40,000 owed to the state tax collector, records show.
The golden-voiced rapper, whose real name is Douglas Davis, grew up in Harlem. After his skill at vocally imitating drumbeats and percussion sounds made him famous in the 1980s, he stayed in the neighborhood, investing in local real estate and raising five sons.
He fell behind in payments and, according to a foreclosure suit filed in Manhattan in late August, 2008, he now owes more than $1.73 million.
Davis is putting the finishing touches on Doug E's Chicken and Waffles, a new Harlem restaurant slated to open next month.
He declined to comment on his woes.
Rap icon Doug E. Fresh - best known for his '80s hit "The Show" - has been socked with three
foreclosure actions by banks looking to collect more than $3.5 million in unpaid mortgages on a trio of his Harlem homes.The rapper, 46, also is being chased by American Express for nearly $60,000 in credit-card debt, and the IRS just slapped him with a $367,000 tax lien on top of more than $40,000 owed to the state tax collector, records show.
The golden-voiced rapper, whose real name is Douglas Davis, grew up in Harlem. After his skill at vocally imitating drumbeats and percussion sounds made him famous in the 1980s, he stayed in the neighborhood, investing in local real estate and raising five sons.
He fell behind in payments and, according to a foreclosure suit filed in Manhattan in late August, 2008, he now owes more than $1.73 million.
Davis is putting the finishing touches on Doug E's Chicken and Waffles, a new Harlem restaurant slated to open next month.
He declined to comment on his woes.
“The strength of a nation is derived from the integrity of its homes"
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