Chamillionaire Says Foreclosure Was A Business Decision
Filed under: Estates, Celebrity Shopping
The latest entrant into the celebrity foreclosure ranks is rapper Chamillionaire. But TMZ has video of Chamillionaire (real name Hakeem Seriki) saying that it was his decision to give his Houston mansion back to the bank. As he tells it the home was his most expensive mortgage (of many that he holds for himself and other people). He bought the house for around $2 million and found that after the real estate slump it wasn't worth that much so he decided to give it back to the bank. He also said that he was always on the road and never at the home. He insists he doesn't have any money problems. Later he took to his Twitter stream to add clarification saying that TMZ left out the part about the new mansion.
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