THE RAPPER SAYS IT TURNED INTO A BAD INVESTMENT!A Houston mansion owned by rapper Chamillionaire was repossessed by the bank recently after the place went into foreclosure -- but according to the rapper, it was all part of a calculated business decision.
TMZ has learned Chamillionaire lost the 7,583 sq. foot home -- which he picked up for roughly $2 million back in 2006 -- after failing to make several payments.
But, yesterday in New YorkHakeem Seriki -- who told us he "decided to let that house go" because the real estate market had turned and the house had become a bad investment.
Chamillionaire also noted that he was never at the home because, "I was always on the road touring" adding, "I just didn't feel like it was a good business investment to pay that much mortgage for a house I was never at."
But Chamillionaire claims he's far from broke -- quipping, "I still got all the cars." we spoke with Chamillionaire -- real name
Oooookkkkkk...so, if he felt he wasn't there enough, couldn't he just put it up for sale???? Wouldn't that be appropriate for saving your credit and getting back any accumulated equity??? There is definitely more to this story. He sounded such an a$$ saying he just couldn't pay for a mortgage where he doesn't spend much time. {SIGH}
ReplyDeleteDid this fool say he's far from broke because he still has all his cars? Sounds exactly what some rich broke folks would say.
ReplyDeleteCham is far from broke. He has plenty of busineses outside of music and he moved to Los Angeles last year. TMZ left out the part where he spoke on his other mansion. There really isn't a story here.
ReplyDeleteCham is far from broke. He has plenty of busineses outside of music and he moved to Los Angeles last year. TMZ left out the part where he spoke on his other mansion. There really isn't a story here.
ReplyDeleteLooks like he might be sleeping in one of those cars soon.
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