Jim Jones mansion foreclosed on…but it was sold for how much?
The rapper lost his mansion to foreclosure after going a decade without paying the mortgage...but at an auction, it was sold for just $100
Rapper Jim Jones and girlfriend Chrissy Lampkin have lost their New Jersey mansion due to foreclosure and it has been reportedly sold for $100.
The mansion was sold at a sheriff’s sale because the couple had failed to make payments on the house since 2010, Bossip reports.
Jones and Lampkin bought the five-bedroom, three-bathroom New Jersey mansion back in 2006 and had taken out a $680,00 mortgage on the house with a 6.8 percent interest rate, which left them to pay $4,467 a month on the house. Unfortunately, the couple were not able to keep up the payments and the The U.S. National Bank Association sued the couple in 2017.
READ MORE: Jim Jones avoids decades behind bars in plea deal
The mortgage detailed that “if he went into default the entire amount would be due,” according to the site. But the bank reportedly settled on the matter with the couple last year to get the home out of foreclosure if they paid off their debt.
But plans to satisfy the debt apparently failed, according to Bossip, because eight months after the agreement, the bank requested that the court make a final judgment against the couple.
The property was sold back to the bank at a sheriff’s sale for only $100, nowhere near the $1,240,017 (including interest payments) Jones and Lampkin owe to the bank, according to court records. Realty website Zillow says the home, which was shown on the reality show “Love& Hip Hop: New York” is valued at $742,000.
Name caught up in other drama
Jones name was recently caught up in the mix of rapper Tekashi 6ix9ine’s legal troubles.
During his testimony, Tekashi 6ix9ine, accused Jones of being a member of the Nine Trey Blood gang.
READ MORE: Tekashi 6ix9ine brings ‘retired rapper’ Jim Jones name into his courtroom bombshell
The prosecution team tied to Tekashi’s court case played a recording of a phone call Jones had with Jamel “Mel Murda” Jones, whose allegedly a Nine Trey godfather.
Tekashi 6ix9ine was arrested and charged with racketeering and firearm charges last year based on his affiliation with the Nine Trey gang.
Jones was a list of other names 6ix9ine has mentioned during his recent testimonies.
