Wyclef Jean Loses Miami Beach Home To Foreclosure
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Another day another celebrity foreclosure. Singing star Wyclef Jean, former member of the Fugees and an independent artist, has had his Miami home foreclosed upon. The home, under construction, has a 2.4 million loan due to Home Equity Mortgage Corp.
With the economic downturn, banks and lenders are not cutting any slack. Even celebrities which lenders in the past would give some leeway to are now being held to a higher standard.
The $2.4 million waterfront mansion on Pine Tree Drive is now owned by a bank. The house is scheduled to be sold at the Miami-Dade Courthouse next month, along with a handful of liens by the construction crews, who never finished, and more than $100 thousand in unpaid taxes.
Neighbors were surprised by the news. “I really think he’s a great musician and he’s come a long way and gone through a lot in terms of his history and his life,” said neighbor Sara Poses. “I don’t know what the circumstances are but I feel bad for him.” via cbs4.com
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I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
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I see the question I have, but no response. I do not have a for sale sign up ...
Comment by GLADSTONE SIX on 25 November 2008:
Is this real you saying about him… its shocking man..!!
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Pingback by OKIDOKIE.NET » Blog Archive » Wyclef Lost his home in miami on 26 November 2008:
[...] day another celebrity foreclosure. Singing star Wyclef Jean, former member of the Fugees and an independent artist, has had his Miami [...]
Comment by jeremiah on 27 January 2009:
I can’t wait until the worthless P. Diddy files for bankruptcy then gets a tattoo that says “Looser”
Comment by blain on 22 February 2009:
hater bitch
Comment by Allan Kleer on 8 May 2009:
This housing crisis spares no one, not even celebrities.
There are signs of recovery in Miami housing market. Hopefully by 2010 Miami will be on its feet again.
Pingback by Retired ballplayer Lenny Dykstra getting foreclosed in Thousand Oaks, CA? His mansion, which had been listed for $25M but no longer is on the market, is wanted by the banks on 5 January 2010:
[...] Fla. that was under construction and that he had co-owned with some friends. Jean watched the mansion get foreclosed late last [...]