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Fantasia Loses Her House to the Bank

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It’s long been said in the music industry that with “mo money” there are “mo problems.”  Fantasia’s life is a living testament to this undeniable truth.  TMZ is reporting that the singer’s home was in foreclosure proceedings, leading her to make plans to sell the house.  She tried selling, but couldn’t get the market value that she’d paid for the home. Originally, Fantasia tried selling the house for $800,000, which…

Allen Iverson’s Home on Market for Half Its Purchase Price

Allen Iverson’s Home on Market for Half Its Purchase Price

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NBA All-Star Allen Iverson’s Buckhead home that he lost in foreclosure is on the market for $2.7 million. The list price is a big drop from a purchase price of $4.5 million in 2010. The property – at 675 West Paces Ferry Road – is in a gated community. The six-bedroom home was built in 2010. There are 11 total bathrooms, according to the real estate listing. Features include an…

R. Kelly’s Chicago Home Sold Off In Foreclosure For $950K

R. Kelly’s Chicago Home Sold Off In Foreclosure For $950K

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R. Kelly is finally free of his troubled Olympia Fields mansion (outside of Chicago, IL), which had been facing foreclosure for a few years.  Fox News reports that the 11,140 sq. ft. mansion was sold off to J.P. Morgan Chase for $950K (they already held the mortgage).  Once a judge approves the deal, the bank will be allowed to put the home back on the market. But it’s interesting that home…

Allen Iverson has filed a lawsuit against the lender for his mortgage on his Atlanta mansion

Allen Iverson Fights to Save Atlanta Mansion from Foreclosure

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Former NBA star Allen Iverson has really been strapped for cash over the past few years. His monthly income is over $62,,000/month; however, the 11-time All Star baller reportedly racks up over $350,000/month in expenses ranging from entertainment to utility bills. Iverson recently made headlines when celebrity gossip site TMZ learned that his $4.5 million Atlanta mansion was up for foreclosure and set to be auctioned on December 4. Iverson…

Toni Braxton’s Trying To Sell 6-Bedroom Home To Avoid Forclosure

Toni Braxton’s Trying To Sell 6-Bedroom Home To Avoid Forclosure

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Toni  Braxton is putting her $1.1 million (11,400 square-foot) home up for sale before it gets lost to foreclosure, according to TMZ. She purchased the Duluth, Ga. crib (below) in 2004 for $1.5 million, but she missed at least 10 months of payments between 2004 and 2010.  She filed bankruptcy in efforts to try to save the property, however that did not work. Soon-to-be bank owned, the mansion includes 6-bedrooms,…

Jermaine Dupri Almost Loses Mansion to Foreclosure

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Jermaine Dupri still has a mansion in Atlanta for the mean time. Dupri was able to save his home from foreclosure just as it was being auctioned off. The rapper and music producer is reported to have had trouble paying his mortgage and piled up over $193,000 in mortgage debt. The Atlanta mansion was scheduled to be auctioned off on September 4 because the music man had failed to pay…

Chad Johnson is About to be Homeless

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Isn’t it strange that we’re all talking about Chad Johnson this week?  You have to wonder if all of his business would be out in the street if he hadn’t been fighting with his wife.  Really, we don’t even know what happened, but everyone is talking about Chad. First, Chad lost his job with the Miami Dolphins after being arrested for Domestic violence.   The firing was even caught on video,…

Go Head Girl! Mom Spends 10 Years in Prison, then Builds Multi-Million Dollar Empire

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Wahida Clark made her money and found her success the hard way.   As a wife and mother, she ended up going to prison for money laundering and mail fraud.  RollingOut.com tells the story of how Wahida had to leave her daughters for 91/2 years to go to federal prison, along with her husband.  Relatives took care of the kids while they were away. After having all of her possessions…

Check your mail: A mortgage discount may be inside [VIDEO]

Check your mail: A mortgage discount may be inside [VIDEO]

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Hundreds of thousands of homeowners may finally get a REAL shot at a mortgage modification. That’s right, a REAL shot. Bank of America is allowing 200,000 homeowners to cut their mortgage principal — that goes straight to the heart of what is probably your biggest debt. It means some could end up owing up to $150,000 less, and writing a much smaller mortgage check every month. So keep a close…

Keith Sweat’s Foreclosure Drama

Keith Sweat’s Foreclosure Drama

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Veteran R&B star Keith Sweat has been ordered to hand over $250,000 in his ongoing foreclosure battle over his home in Detroit, Michigan. The singer’s mansion in the city was repossessed after he allegedly defaulted on his mortgage, but the property only sold for around half of its original value when it was put on the market to pay the debt. The house was bought in 2004 for $450,000 but…

194-Yr Old Historic Black Church Faces Foreclosure

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Scandal-plagued Hub bank OneUnited has begun foreclosure proceedings against Roxbury’s historic Charles Street African Methodist Episcopal Church, one of Boston’s oldest and most-respected black churches, the Herald has learned. OneUnited, the nation’s largest black-owned bank — which got millions in federal bailout money — is threatening to auction off the church March 22 to cover a $1.1 million “balloon” mortgage that recently came due. “I don’t honestly know why a…

The Bitter Battle Between Tracy Morgan and His Mother

The Bitter Battle Between Tracy Morgan and His Mother

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    A bitter war of words has broken out between 30 Rock star Tracy Morgan and his estranged mother. Alicia Warden has hit out at her son for failing to stump up the cash to help her make mortgage repayments on her Ohio home. The 61-year-old faces – who owes $25,000 – faces foreclosure on her house unless she makes a minimum payment by February 23. Morgan, who is…

Detroit Couple Who Fought Eviction, Allowed To Buy Back Home

Detroit Couple Who Fought Eviction, Allowed To Buy Back Home

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    A Detroit husband and wife who have spent months worrying that they might be evicted from their home of 22 years received word on Tuesday morning and learned they will be able to stay. William and Bertha Garrett, who have lived on Pierson Street in Detroit for more than two decades, have been fighting their bank foreclosure for more than a year. They attempted to buy back their…

Tracy Morgan’s Mother About to Lose Her House, He Won’t Help

Tracy Morgan’s Mother About to Lose Her House, He Won’t Help

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  Tracy Morgan ’s mother is about to lose her house — and she says her multimillionaire son won’t help her. Alicia Warden, who lives in northeast Ohio (and spoke on the condition we not reveal the exact location), says she owes less than $25,000 on her home, but the most the “30 Rock” star — who is worth $18 million, according to Forbes — offered to give her was…

Obama To Extend and Expand The Foreclosure Program

Obama To Extend and Expand The Foreclosure Program

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  The Obama administration said Friday that will expand its signature foreclosure-prevention program to try to help those with heavy debt loads avoid losing their homes. The Home Affordable Modification Program will also be extended through 2013. The government will triple the financial incentives for private lenders to reduce the principal amount of mortgages for homeowners at risk of losing their homes. And for the first time, the government will…