Wyclef Jean Loses Miami Beach Home To Foreclosure

WyclefJeanAnother 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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  3. As Prices Drop, Investors Rush Into Downtown Miami Condo Market
  4. FHA Loses 800 Million Dollars on Reverse Mortgages For Seniors
  5. Big Boi and Mary J. Blige Help Spread The Word On Foreclosure Help

There Are 6 Responses So Far. »

  1. Is this real you saying about him… its shocking man..!!

    Check out this Luxurious inner city contemporary CALGARY townhome project with modern sophisticated interiors. There are two 2 bedroom units with 2588 sq. ft. on three levels, one 3 bedroom unit with over 3300 sq. ft. on 4 levels and one 3 bedroom unit with over 2800 sq. ft. on 4 levels. Designed and built by the Baboushkin Design Group this unique development offers attention to quality & details. This is the best of inner city living.

  2. [...] day another celebrity foreclosure. Singing star Wyclef Jean, former member of the Fugees and an independent artist, has had his Miami [...]

  3. I can’t wait until the worthless P. Diddy files for bankruptcy then gets a tattoo that says “Looser”

  4. hater bitch

  5. 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.

  6. [...] Fla. that was under construction and that he had co-owned with some friends. Jean watched the mansion get foreclosed late last [...]

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