Ya’ll They Took My Shyte But It’s All Good Though…We’ll Just Call It A Calculated Business Move
Posted by Media Outrage on June 3rd, 2010
Chamillionaire is the latest public persona to get his real estate ganked by them bankers. Peep game…
A Houston mansion owned by rapper Chamillionaire was repossessed by the bank recently after the place went into foreclosure — but according to the rapper, it was all part of a calculated business decision.
TMZ has learned Chamillionaire lost the 7,583 sq. foot home — which he picked up for roughly $2 million back in 2006 — after failing to make several payments.
But, yesterday in New York we spoke with Chamillionaire — real name Hakeem Seriki — who told us he “decided to let that house go” because the real estate market had turned and the house had become a bad investment.
Chamillionaire also noted that he was never at the home because, “I was always on the road touring” adding, “I just didn’t feel like it was a good business investment to pay that much mortgage for a house I was never at.”
But Chamillionaire claims he’s far from broke — quipping, “I still got all the cars.”
June 3rd, 2010 at 5:27 pm
It was calculated already- they calculated how many payments his azz missed and they snatched his shyt real quick…
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Yvonne Reply:
June 3rd, 2010 at 5:51 pm
LOL…you know that’s right.
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BadBadKitty0727 Reply:
June 3rd, 2010 at 11:47 pm
LMAO. You know you right!
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June 3rd, 2010 at 7:11 pm
“I just didn’t feel like it was a good business investment to pay that much mortgage for a house I was never at.”…..Huh dude, we weren’t born yesterday…just say it, you are broke…DUMB ASS
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June 3rd, 2010 at 11:51 pm
“I still got cars”, WTF. just plain stupid comment and way to think.
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Cut Up Reply:
June 4th, 2010 at 4:42 am
Umm, you ain’t lying. Who the Hell gives a shit about a damn car. What I drive is so paid for and I ain’t into throwing my paper away on another one. Real Estate however, is one of the smartest moves you can make. There are many clowns with high end imports who live on rental property. Balance out your priority portfolio guy!!
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June 4th, 2010 at 10:38 am
Actually that is a very smart business move. Corporations do it all the time. In today’s real estate climate it makes no sense to pay a bank over 2 million plus interest for a property that the banks says is valued at less than half that amount.
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June 4th, 2010 at 11:03 am
W T H!
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June 4th, 2010 at 4:49 pm
THIS IS SO STUPID
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June 4th, 2010 at 6:07 pm
When was the last time we heard him on a track?…… waiting……. exactly, his ass just broke. talking bout he touring and ish! whateva dude.
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