10 Black Celebrities Who Went Through Embarrassing Foreclosures

Rihanna Back in 2009, singer Rihanna purchased a home in Beverly Hills, California, for nearly $7 million. Unfortunately, flooding left the home seriously damaged and the Bajan beauty defaulted on the payments. Eventually, the home was sold for $5 million. Evander Holyfield The former heavyweight champion couldn’t fight off the banks when his Georgia mansion went into foreclosure in 2012. Holyfield owed a whopping $14 million on the home. It was sold at auction for nearly half that at only $7.5 million. LaToya Jackson Back in 2009, foreclosures were a major problem in Las Vegas, and even the famous Jackson sister couldn’t avoid it. According to the Las Vegas Review-Journal, LaToya Jackson purchased her Vegas condo in 1996 for $260,000. In 2009, there was an unpaid balance of $750,000 on the condo, and Jackson was forced to let the property go. Damon Dash Rapper Jay Z’s former business partner has had quite a few ups and downs when it comes to his finances. In 2013, Dash claimed he was close to being evicted from his home in Carmel, New York. Before that, in 2008, he was hit with a foreclosure after he couldn’t keep up with his $78,500 monthly mortgage. Chris Tucker According to court documents, the actor and comedian owed more than $4 million on his $6 million Florida home. The lavish property sported an outdoor kitchen overlooking a pool, five bedrooms, three fireplaces, a personal spa and a basement decked out to resemble a pirate ship. Unfortunately, Tucker had to bid the unique home farewell. R. Kelly The banks weren’t too happy with the R&B crooner in 2011. The bank said R. Kelly hadn’t paid his monthly mortgage payments on his suburban Chicago property in more than a year, resulting in a $2.9 million foreclosure lawsuit. Toni Braxton The soulful songstress is yet another Georgia celebrity who lost her home to the bank. Braxton took out a loan on the home back in 2004 for $1.5 million, but the bank claims the Braxton sister failed to make at least 10 monthly payments between then and 2010. Eventually, she filed for Chapter 7 bankruptcy in an attempt to save her home, but her attempts ultimately failed and the Georgia pad became the second time Braxton lost a property to foreclosure. Nas About two years ago, the hip-hop icon lost his two-bedroom, three-bath Georgia home to foreclosure. He shoveled out $585,000 on the home in 2004 only to see the bank sell it for $348,000 in 2012. Allen Iverson Iverson paid more than $4 million for his lavish Atlanta home in 2010. It’s unclear what went wrong with the former NBA star’s finances, but by the time 2012 rolled around, Iverson’s home was scheduled to be sold at auction for $2.5 million. O.J. Simpson Earlier this year, the former football star officially lost his home to auction. Simpson will be serving time behind bars for robbery and kidnapping charges until sometime after 2015 and he may be seeking a place to stay once he gets out. In 2013, his four-bedroom Miami home hit the auction block for nearly $800,000. The initial buyer failed to make the necessary payment and the home returned to auction. According to court documents, J.P. Morgan signed over possession of the home to Florida limited liability company Global Rental E&P in May.

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