Rapper Diamond Talks Home Foreclosure

NEWS

» by Danielle Canada December 22, 2010, 11:39am

Former Crime Mob member Diamond is addressing reports that her GA home is in foreclosure.

As previously reported news hit the net that the rapper and her fiancé Lil Scrappy were both facing foreclosure for delinquent payments.

According to Diamond, the rumors are true and she has a home thati s indeed in foreclosure but because of a “business decision” she made.

The artist says she allowed the home to go into foreclosure after the rental market slowed down to a standstill.

She tells XXL,

“It was a business decision, plain and simple. I bought that house in '02. It was a house I did live in at the time for about a year. But then I got into other rental properties and flipping my money and moved out of that house. The recession hit and the real estate market was not doing what it was supposed to do, so instead of selling it, I rented it out. Then the rental market slowed down, too. So I asked myself, ‘Should I keep this house when no one is buying it or renting it?' If I can't sell it, recoup my money or have anyone rent out the property, then why would I keep it? So I decided to let it go to foreclosure last year. “

She adds,

“People do it all the time. Donald Trump does it. If a person can't understand that, then they're stupid.”

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