Latifah Muhammad
naspartythumb

Nas Loses Georgia Home To Foreclosure, Property Sold At Auction [PHOTOS]

 

Things are not looking too good for Nas, no matter what his album title may be. The legendary Queensbridge MC is no stranger to financial problems, the latest of which resulted in his Georgia home being foreclosed on, then sold at an auction.

Nas purchased the 3,5000 square-foot 2-bedroom, 3-bathroom home back in 2004 for $585,000. The home also boasts a gym, movie theater, and game room, among other amenities. His lender, SunTrust bank, sold the property to the highest bidder, for a substantially lower amount than God’s Son shelled out, eight years ago.

According to official records, the home went for $348,500 in a public auction held last month.

The rapper defaulted on the loan he received from SunTrust still owing $507,000 on the property, a number which added to his growing financial woes. Following the end of his marriage, Nas was ordered to cover his ex-wife Kelis’ bills including legal fees, health insurance and spousal support while they were going through divorce proceedings. He’s also had trouble paying Uncle Sam, and owes the IRS $6 million in back taxes, a debt which will be paid back partly through his music royalties.

On a positive note, Nas is coming off a pretty solid summer. The release of his Life Is Good album netted him another No. 1 debut, with the album selling 139,000 copies in its first week, and continues to inch its way to gold status.

In promotion of the release, he also set out on an international tour followed by spot performances across the U.S.

Click below to see photos of his former digs.

MORE ON HIP-HOP WIRED!

• The Great White Hype: 10 White Rappers Who Fell Off (Or Are Barely Hanging On) [GALLERY]

• RZA’s The Man With The Iron Fists Soundtrack & Score Deluxe Vinyl Packaging [PHOTOS]

• Jay-Z, Will Smith, Victor Cruz And More Attend Meek Mill’s Listening Session [PHOTOS]

• Wired 25: The 25 Most Influential Business Deals In Hip-Hop

• The Game Is Getting Hitched On TV, Marrying The Game Premieres On VH1 In November [PHOTOS]

• 8 Things You Need To Know About Meek Mill’s Dreams And Nightmares Album

• Bangin Candy: Rick Ross’ “Diced Pineapples” Stunner Bernice Burgos [PHOTOS]

• NYC High School Guidance Counselor Loses Job Over Racy Online Pics [PHOTOS]


Photos: Atlpics.net/TMZ

1 2 3 4 5 6 7 8 9 10 11
Comment Comments: 0 Tags Tags: nas, life is good, georgia, foreclosure, home
No thanks