Times are tough all over, apparently. Rapper Common is in danger of losing his Chicago apartment after he stopped making payments...
According to reports Common and his manager Derek Dudley took out a joint mortgage back in 2008 but stopped making their $2,285 a month payments back in March.
Bank of America filed foreclosure on the delinquent duo to recoup more than $345,000 in mortgage payments, penalties and interest.
23 comments:
FIRST!
hmmm, why does common need an apt when he owns houses everywhere
First what a#$%hole? Take that ish to MTO.
He doesn't strike me as an individual who is complacent with his money.
This is what I said about not owning more than 2 places,smh-he has a place in chicago plus a seperate home he bought for his mom, a place in miami, a place in NY, & a place in los angeles. you gotta pay mortgage,insurance,and taxes for all of them.he needs to sell at least 3 more.
Getting Shit is easy, maintaining SHIT... Not so easy. When is the last time you bought a Common CD?
Maybe he had no other options, he seems good with his money. I hope all is good.
If he took out a "joint mortgage" with his manager, maybe he was in essence a co-borrower/co-signer for Mr. Dudley. If this mortgage was taken out in 2008, that was right at the start of the mortgage crisis. The "apartment" is worth half of what it was in 2008. It's not worth it to keep it!
@11:07
Could be but WHY?
Don't put shit in your name for someone else..PERIOD!
If it's for Common why would you take something out in another Man's name too?? Questions...
@11:07am + 11:20am -
Too True/More Questions than answers.......
"joint mortgage" with his manager That shit is GAY.
Sounds like Common and his Chi Town thang is through. And from the looks of it, Common don't give a damn where dude lives no more.
It's okay boo, you can move your things in with me. Yes GAWD! Love me some Common.
Besides, sounds like he was helping out old broke ass Derek who really stop making the payments. At least it's not his primary residence. Also, Common's mother does manage a lot of his business interest.
something aint right here, the mortgage and the pay cheque is too small
HEY... AnRnBThug; where you been? I haven't see you post anything to some other stories and got concerned.
11:50 sit down heffa, he's mine. I just watched 'just wright' this weekend and was like yeah, I'd fuck the shit outta him.
O well. People are losing their ONLY residence these day's. Who cares. I don't.
The fact he had a joint mortgage with another man is suspect.
sounds like Common co-signed 4 dude and his mgr probably never made payments.. foolish, but not totally 'suspect'...
Why is he signing for another Nigga? Something in the white milk ain't clean.
According to a blind item in the diary of a Hollywood street king,Common is down low.
he let it go..whoopyfuckingdoo..normal shit next
Msfre1 said...
If he took out a "joint mortgage" with his manager, maybe he was in essence a co-borrower/co-signer for Mr. Dudley. If this mortgage was taken out in 2008, that was right at the start of the mortgage crisis. The "apartment" is worth half of what it was in 2008. It's not worth it to keep it!
11:07 AM
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I'm gonna ride with this (Las Vegas is filled with houses that people walked away from) because the alternative means I have to throw Common in the same pile as Maxwell (DL) :(
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