Jermaine Dupri loses his Atlanta mansion to foreclosure
theGRIO REPORT - Jermaine Dupri has reportedly lost his home to foreclosure.
Jermaine Dupri has reportedly lost his home to foreclosure, according to WSB-TV.
The Atlanta mansion has been valued at $3.7 million, and Dupri owed $2.5 million on it. Because Dupri has been unable to make monthly payments, legal notices have been posted.
“The debt secured by said Deed to Secure Debt has been and is hereby declared due because of, among other possible events of default, non-payment of the monthly installments on said loan,” the legal notice states. “The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale, including attorney’s fees (notice of intent to collect attorney’s fees having been given).”
Foreclosure proceedings were started in 2011 and then once again in 2012. In 2011, a planned auction was cancelled at the last minute, while in 2012, the home never sold.
Dupri has seen many other such financial woes in recent years. In 2013, SunTrust Bank filed a $1.9 million suit against him, and earlier this year, a former road manager sued Dupri for four years’ worth of overtime.
