Foreclosure Hits Music Star Wyclef Jean
Tags: Anthony Shriver, children, construction, florida, foreclosure, Maria Shriver, miami, Miami Beach, million, project, The Fugees, Wyclef Jean
| Thursday 20 November 2008 10:15 am
Proving that foreclosures spare no one, a Miami Beach property owned by hip-hopper Wyclef Jean is about to be auctioned on the proverbial courthouse steps, according to court records.
Through a corporation he owns with friends, the former guitarist of The Fugees borrowed $2 million from Home Equity Mortgage Corp. in 2004.
He wanted to rebuild a canal-front home next door to Kennedy clan stalwart Anthony Shriver, Maria’s little brother.
But a series of construction liens filed since then shows the Pine Tree Drive project was burdened by a heap of financial trouble.
The property
(photo above by Manny Hernandez) stayed nearly abandoned for two years as it racked up $6,200 in fines from the city of Miami Beach.
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 2008, the project’s architects put a lien on the property, according to court files. They’ve been trying to get their $75,000 since 2004.
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.
Unlike many other rap stars, Jean isn’t particularly ostentatious. He shares time between Caldwell, N.J., and South Florida, where he is mostly know for his philanthropic work to benefit children’s causes in his impoverished homeland of Haiti.
Jean couldn’t be reached for comment. The Coral Gables lawyer listed as the legal rep of the corporation didn’t return calls.
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[...] Source [...]
[...] Fugees member Wyclef Jean is facing a foreclosure of his Miami Beach property. Jean apparently borrowed $2 million from a [...]
[...] star Wyclef Jean is the latest celebrity to undergo foreclosure. According to Page2Live.com, Wyclef was having his Miami Beach canal-front home rebuilt, but he ran out of money before it was completed, as you can see by the photo above at 5801 Pine [...]
[...] to property records and recent reports, back in October of 2004 a bizness entity comprised of Mister Jean and others took a $2,000,000 [...]
[...] 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 [...]
the only picture that was posted was wyclef jean…out of 12 pictures
[...] Fugees member Wyclef Jean is facing a foreclosure of his Miami Beach property. Jean apparently borrowed $2 million from a [...]
[...] The property stayed nearly abandoned for two years as it racked up $6,200 in fines from the city of Miami Beach. 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 2008, the project’s architects put a lien on the property, according to court files. They’ve been trying to get their $75,000 since 2004. In all, Jean’s corporation now owes the bank $2.4 million, according to the judgment. (Source) [...]
[...] to property records and recent reports, back in October of 2004 a bizness entity comprised of Mister Jean and others took a $2,000,000 [...]
[...] ranks of the famously foreclosed. Page Two Live reports that a Miami…owned by Wyclef Jean will be [...]
I am totally agree with the above person and just wnatr to add one point that the Page Two Live reports that a Miami Beach property owned by Wyclef Jean will be auctioned off at the courthouse in downtown Miami
I agree with your idea but, there are different school of thoughts producing different ideas that has to brought into consideration.
what up wyclef
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Keep up the informative posts!
Gosh it’s depressing to hear of this such thing… of course it shouldn’t matter or precedence shouldn’t be taken in reporting the misfortunes of celebrity, but it’s still awe striking to see the best of talent and success be succumbed to the bad market and economy.
my man i nned your help i very appecaite u as my blood haitien