Last week news spread that ATL rapper Diamond had lost a house to foreclosure [click here if you missed that], this on the heels of losing a car to the repo man [click here if you missed that]. But let her tell it, one was a fax machine error and the other was a calculated business move on par with Donald Trump and if you don't understand that, well you're just a big dummy.
Diamond tells XXL
“It was a business decision, plain and simple. I bought that house in ’02. It was a house I did live in at the time for about a year. But then I got into other rental properties and flipping my money and moved out of that house. The recession hit and the real estate market was not doing what it was supposed to do, so instead of selling it, I rented it out. Then the rental market slowed down, too. So I asked myself, ‘Should I keep this house when no one is buying it or renting it?’ If I can’t sell it, recoup my money or have anyone rent out the property, then why would I keep it? So I decided to let it go to foreclosure last year.”
“People do it all the time. Donald Trump does it. If a person can’t understand that, then they’re stupid.”
and about that repo
“That car was not repossessed,” she explains. “I got into an accident with my new Porsche truck and totaled it. Eight days later, I got the Camaro to hold me over until the insurance company sorted out the accident and I figured out if I wanted to get another Porsche truck or whatever. When I bought the car, I did enough (paperwork) to drive it off the lot. There were other documents they needed to complete the sale and I was sending those over. The person in charge of the remaining documents was not at work when I sent them, so that’s how everything got mixed up. It was nothing that I did. Besides, how can the car be repossessed if I just bought it? It wasn’t due for a payment, so how can I be late enough for it to be repossessed?”
