Ex Fugees front man Wyclef Jean adds his name to the growing list of famously foreclosed. Back in 2004, Jean borrowed $2 million through a corporation he owns with friends from Home Equity Mortgage Corp to purchase a Miami Beach property. He was planning to rebuild the canal-front home but construction on the property stopped when Jean and his partners couldn’t cough up the dough. The architects on the project filed a lien for $75,000 rounding out the amount Jean’s corporation now the bank to $2.4 million.
The beachfront property will be auctioned off at the courthouse in downtown Miami on December 12. It highly unlikely Jean and Co. will get all their money back from the sale. The unfinished property is appraised at $1.4 million. Has anybody seen Lauryn Hill?
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November 25, 2008Iced-Out Porsches
