Posted:
8/19/2008 10:33:39 PM by
Black widow
Rocafella co-founder Damon Dash and his wife Rachel Ray are reportedly facing foreclosure on two Manhattan apartments for failing to mortgages.
According to The Associated Press, Eastern Savings Bank filed court papers on Monday (August 19) claiming that the rap mogul and his wife failed to make monthly payments of $78,500 for the apartments and owe them $7.3 million in total.
Representatives for Dash could not be reached for comment.
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From :
light
young x.. huh?
when it comes to fiances you should never spend more than 30% of your monthly income on a mortgage or renting or leaseing an apartment. also if you have the cash available you should always buy your home outright cause if you get a mortgage you will be paying double for it in intrest. if he would of bought the house outright he could of loan against it when time got ruff or sold it. if a bank is starting forclosure procedures that mean at the moement dame has no money coming in. everything he has is a liabilty it costing him money so he has nothing to use as leverage to offer the bank to stop proceedures cause if he did he would have done it already. lyor choen the former head of def jam said it best when he told that hot headed dud handle the money and let jay-z handle the celebrity. that why lyor is worth 270 mil today.
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From :
light
Cakaholic?
The so called cakaholic is a fucking looser! lame dame dash trying so hard to be a celebrity that he forgot to keep his eyes on his money which was jay-z the guy lost his golden goose. period! he threw away everything over ego a real business man jay-z, bill cosby, puff daddy, gets there money. they settle disputes and get paid. how in the fuck are you gonna let a guy who barely finished high school beat you when you went to college for this shit. dame must have not ben paying attention in class.
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From :
Young-X
dame
Dude, its called money managemnet, as abusiness man, you dont tie all your profits into assests. of course he can afford to buy those hpuses out rught, but why do that with most of your money if you can just get a mortgage. pay it of in bitss and use most part of your money for other business ventures.? think before you write anything.
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From :
Young-X
Dude, its called money managemnet, as abusiness man, you dont tie all your profits into assests. of course
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From :
BamBam08
Forecluser?!?! WTF?!?!
DD must have lost his mind...Why do you need 2 lofts in Manhattan? With the kinda paper he`s "suppose" to be making....Why da fuck does he even have a mortgage!?!?!?!?
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