Damon Dash, Hip Hop Mogul, Facing Foreclosure on 2 NY Apartments : The Real Estate Bloggers

Damon Dash, Hip Hop Mogul, Facing Foreclosure on 2 NY Apartments

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Rachel_roy_damon_dashThe latest celebrity to get the ol’ foreclosure notice is Damon Dash. Co-founder of Rock-A-Fella Records with Jay-Z has been served with a foreclosure notice on 2 of his Manhattan apartments.

Damon Dash’s  net worth was estimated at 50 million dollars, but my hunch is that it has dwindled if he is being chased for the $78,000 by the bank.

He recently invested in his wife Rachel Roy’s fashion business. That might be the reason that things went south.

Eastern Savings Bank has filed suit against entrepreneur Damon Dash, charging the Roc-a-Fella Records co-founder hasn’t made a payment on his $78,504.20-a-month mortgage since January.

“YOU ARE IN DANGER OF LOSING YOUR HOME,” reads the foreclosure action against Dash and wife Rachel Roy.

The $7.3 million mortgage was actually taken on two TriBeCa properties the couple owns, at 25 N. Moore St. and at 79 Laight St.

A rep for Dash did not return a call and e-mail for comment. The clothing big has been besieged by debtors in the past year, despite having an estimated $50 million fortune.  via the New York Post.

Related posts:
  1. Mod Squad Proactively Helps EMC Mortgage Customers Facing Foreclosure
  2. 6 Tips When Facing A Foreclosure
  3. Latest Celebrity Foreclosure: Pacman Jones Losing Tennessee Home
  4. Using A Foreclosure Home as a Marijuana Grow House - Not Very Smart
  5. T-Boz Of Rap Group TLC Losing Atlanta Home to Foreclosure

Post a Response

« Back to text comment
  • Popular

    Most Comments

    Search

    Tags

    Archives

  • Recent Comments

    • I saw this earlier today and thought the exact same thing, Tom. The politicians have been pushing homeownership for ...
      Joshua Dorkin @ BiggerPockets | 5Jan09 | More
    • I just found your blog and it's filled with great information. One of my goals this year is to update ...
      Albany Homes For Sale | 5Jan09 | More
    • Thanks for the kind words. I promise you the first year we did not have this level of readership. It ...
      Tom Royce | 5Jan09 | More
    • The limit on jumbo's is either 417,000 OR it is 115% of the median house price, not to exceed 150% ...
      Sigh | 5Jan09 | More
    • I like your blog and I have read many of your articles. I agree that it is amazing the ...
      Jackson Hole Real Estate Broker Rick Armstrong | 5Jan09 | More
    • Yes, there are some deals out there. While there are some deals out there, I'm an agent looking for ...
      Todd Covington | 5Jan09 | More
    • With mortgage rates poised to drop to 4.5 percent all we need now is some tax incentives to help home ...
      Mortgage | 3Jan09 | More
    • I think the overall interest in refinancing was definately high recently. However the problem is that although the rates dropped, ...
      Eric | 2Jan09 | More
    • I have had great success using craigslist. Renters need to be careful and make sure they check out their landlord ...
      Sean | 2Jan09 | More
    • This is the start of where the market can begin to level out. Home owners will start to be able to ...
      CompeteRealty | 2Jan09 | More
  • Advertisement



  • Statistics

  • Friends

  • Recent Friends Visiting

  • Subscribe





    Get Updates Delivered Daily By E-Mail:

    Delivered by FeedBurner