Reportedly the home was scheduled to be auctioned off again — after he failed to make more monthly payments on the home. However, Dupri headed to court and filed a emergency motion in court to cancel the auction. The bank had claimed this time he owed over $400K, but Dupri said it was closer to $111K. The judge once again sided with Dupri and canceled the auction. Dupri worked out a deal with the bank to pay off the debt he owed … and was to make his monthly payments along with a lump sum to cover the payments he was behind to them Dupri seemed to have been making his payments for over a year , with the home not once hitting the block and no lawsuits being filed against him for foreclosure. Then last month, a notice of sale for Jermaine Dupri’s home was filed by the owner of the deed of the home. The record shows that Dupri took out a $2.5 million dollar loan on the home back in 2005 and it states, “The debt secured by said Deed to Secure Debt has been and is hereby declared due because of, among other possible events of default, non-payment of the monthly installments on said loan. The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale.” Reportedly, the foreclosure auction is to take place this month.
Jermaine Dupri Loses $2.5 Million Dollar Atlanta Mansion To Foreclosure After Owing $400,000 – was originally published on zhiphopcleveland.com