wyclef

Wyclef Jean Faces Foreclosure

Filed under: Estates, Celebrity Shopping

Add another name to the ranks of the famously foreclosed. Page Two Live reports that a Miami Beach property owned by Wyclef Jean will be auctioned off at the courthouse in downtown Miami on December 12. The former member of the Fugees borrowed $2 million through a corporation he owns with friends from Home Equity Mortgage Corp. in 2004. He was planning to rebuild a canal-front home but construction on the property stopped when Jean and his partners couldn't come up with the money to finish the project. The architects filed a lien for $75,000 and in all, Jean's corporation now owes the bank $2.4 million. It's doubtful they will get all their money back from the sale, the property is appraised at $1.4 million and has been left unfinished for years.

Gallery: Celebrity Foreclosures