Another big spender joins the celebrity foreclosure follies. This time it's Roc-A-Fella Records company co-founder Damon Dash and his wife, fashion designer Rachel Roy. The high-profile pair could lose two of their Manhattan apartments. Eastern Savings Bank says the
couple owe $7.3 million on the properties and were supposed to make hefty monthly payments of $78,500 but haven't done so since January. Dash has a $100,000 federal tax lien on the properties and reportedly owes the city of New York $2 million in back taxes. Damon Dash is allegedly has a $50 million fortune amassed from his hip-hop empire.
Reader Comments (Page 1 of 1)
Graffitimonkie Aug 20th 2008 9:37PM
Where exactly is all his money? I know if his money is in stocks and stuff, it might be a good time to cash them out and pay off that damn mortgage, that is what us regular people would have to do if we have a mortgage to pay off, except we don't get to be on any news coverage and make a big fuss when reality hits us.
These guys need better consultants to handle their investments.
http://www.tranharry.com/
Avoid foreclosre Aug 20th 2008 11:20PM
Incredible....they owe million of dollars, are in default since January and they foreclose the house/appartment just 7 month later. wow, if you compare that with the standard foreclosure default timeline...eg. in Texas, 2 missed repayments and you can risk foreclosure.
http://foreclosure-houses.submit-articles.biz
kenny17995 Aug 21st 2008 9:28PM
i wonder if he squandered all of his money. $7.3 million is a lot to owe on a home.
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