Bank forecloses on Wycelf
A canal-front home rapper Wyclef Jean is building in Miami Beach is scheduled to be auctioned off in three weeks because he owes a shitload of money to the bank and isn't paying. From the Palm Beach Post blog:
Through a corporation he owns with friends, the former guitarist of The Fugees borrowed $2 million from Home Equity Mortgage Corp. in 2004. He wanted to rebuild a canal-front home next door to Kennedy clan stalwart Anthony Shriver, Maria’s little brother. But a series of construction liens filed since then shows the Pine Tree Drive project was burdened by a heap of financial trouble.The property stayed nearly abandoned for two years as it racked up $6,200 in fines from the city of Miami Beach. Then the $900,000 construction on a property appraised at $1.4 million stopped when Jean and his partners couldn’t come up with $177,913 to finish. In 2008, the project’s architects put a lien on the property, according to court files. They’ve been trying to get their $75,000 since 2004. In all, Jean’s corporation now owes the bank $2.4 million, according to the judgment. (Source)
In related news, I had a mustard and mayonnaise sandwich for lunch.
Wyclef's house under construction
[WENN]
