Ex-Fugee Wyclef Jean’s House in Foreclosure

The development fills a several-week-long hole in the celebrity foreclosure news cycle.

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According to media reports, former Fugees star Wyclef Jean has snapped the curious drought in celebrity foreclosure news after failing to make payments associated with his Miami Beach house.

The Palm Beach Post reported that Jean obtained a $2-million loan in 2004 to rebuild the home, but the project subsequently hit a number of financial snags and remained “nearly abandoned” for two years.

From The Palm Beach Post:

Then the $900,000 construction on a property appraised at $1.4 million stopped when Jean and his partners couldn’t come up with $177,913 to finish…

In all, Jean’s corporation now owes the bank $2.4 million, according to the judgment…

The home is to be sold Dec. 12 in downtown Miami.

TAGS:
foreclosures

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