emesem said:

what a deadbeat. Its cause of people like him (people with money who dont pay their bills) we're in such a mess.

No, its because our country gives Lockheed Martin, Boeing, and Northrup Grumman billions and trillions

of dollars for weapons to blow away Gazans who thow rocks at them, and the weapons corps don't pay taxes,

but that is for another forum. Believe me, Prince's property taxes or lack thereof is drama at best and

really, his burden, thank Goddess.

Funky Rakes, at the sound of red wiggler yell, attack!!

Possible world tour!

SagsWay2low said:

Possible world tour!

I'll be happy if he just plays somewhere within reasonable driving distance of cleveland.

Genesia said:

What I don't get is...why is there still a mortgage that big on property he's owned for...geez...at least 25 years? He must've borrowed against it more recently.

He better pony up, or Mani might end up owning that land anyway.

actually it's simple economic sense to buy expense properties like that with mortages. you will actually find that most celebs with massive mansions have the properties mortaged. the finances the artists earn can be used as cashflow for other more profitable investments

all7even said:

why in the hell are guys concerned about prince's financial status?

Boredom? Or sometimes people like to feed off other peoples misfortune and misery to make themselves feel better, it shift the focus away from the problems and misery in there own lives.

RubyButterfly said:

unique said:

actuall the deal is that prince is annoyed with carver county on a few things, such as having to pay taxes on properties that aren't occupied, so he demolished the fucking things, and he was pissed at treatment by them regarding some of the cellys and street parking and stuff. so he's basically not paying cuz he's pissed off. he usually pays up at last minute though

Oh yeah I remember the street parking issues at the last Celebration. I think there were noise complaints from neighbors that he had to deal with also. But he's still mad about all that? That stuff was 9 years ago.

Whatever his nose is out of joint about in regards to Carver County, I hope things work out and he keeps the land...it's beautiful. The last time I drove by there last summer I saw deer roaming around and it was just so pretty.

He has complained about Carver County taxes in the press before and a lot of people are walking away from their properties these days due to the lost of value. I am sure he knows he owes the money and he could be walking away from this property as well as the many properties he owns in Carver County.

Gohi said:

I love the brainless sycophants that always defend Prince in scenarios like this. Cripes.

Well good because you are one of them.

unique said:

Spinlight said:

Property owned by music icon Prince is undergoing foreclosure proceedings and is scheduled to be sold at a sheriff sale on May 13 unless the mortgage is reinstated before then. The 20-acre property, located at 7141 Galpin Blvd. in Chanhassen, formerly was the site of Prince’s home, which was demolished in 2005. According to the foreclosure notice published in the Chaska Herald, the original amount of the mortgage for Prince R. Nelson was $605,000 in 1994. The amount due on the mortgage is $368,382. Carver County property tax records estimate the land value of the property at more than $1 million. According to the law firm of Wilford & Geske, there is a decent likelihood that the mortgage will be reinstated prior to the May 13 sale. To reinstate the mortgage, delinquent mortgage payments would need to be made current.

Uhhhhh.... Paisley Park is on Audubon not Galpin. Galpin is a home.

And here is the rest of the article:

According to Carver County property records, Prince has called Chanhassen home since 1980.

Prince is one of Chanhassen's largest individual landowners with more than 200 acres of land throughout the city, including 150 acres between Lake Lucy and Lake Ann and land near his Paisley Park Studios at the corner of Audubon and Highway 5.

Last year, several Prince properties were on the county’s list for delinquent taxes. According to Carver County officials, taxes are current for the Galpin Boulevard property.

Representatives of Prince couldn’t be reached for comment.

So, you're mistaken. Fuck sake.

[Edited 4/20/11 22:51pm]

look at my first post, it says it's not fucking paisley park, and it's his old fucking house

i'm not the one that's mistaken. the OP is mistaken. fuck knows what the fuck you are

You said, "did anyone bother", insinuating that the rest of us hadn't either. I was just clarifying for you that it was indeed not PP and that we were clear on that.

Spinlight said:

unique said:

look at my first post, it says it's not fucking paisley park, and it's his old fucking house

i'm not the one that's mistaken. the OP is mistaken. fuck knows what the fuck you are

You said, "did anyone bother", insinuating that the rest of us hadn't either. I was just clarifying for you that it was indeed not PP and that we were clear on that.

but i knew it wasn't PP and i said it wasn't PP. if you read past the first few words instead of spending all fucking night typing, you would have seen that

more reading, less typing

unique said:

Spinlight said:

You said, "did anyone bother", insinuating that the rest of us hadn't either. I was just clarifying for you that it was indeed not PP and that we were clear on that.

but i knew it wasn't PP and i said it wasn't PP. if you read past the first few words instead of spending all fucking night typing, you would have seen that

more reading, less typing

How about you just use the right words? It's not hard to single the OP out as opposed to casting a wide net of bitchery about like you haven't the time to figure out who was right or wrong.

It's not Paisley Park. WE GOT THAT ALREADY.

unique said:

Genesia said:

What I don't get is...why is there still a mortgage that big on property he's owned for...geez...at least 25 years? He must've borrowed against it more recently.

He better pony up, or Mani might end up owning that land anyway.

actually it's simple economic sense to buy expense properties like that with mortages. you will actually find that most celebs with massive mansions have the properties mortaged. the finances the artists earn can be used as cashflow for other more profitable investments

Yes, but the last time I checked the US copyright office, it showed Prince pawned/ has a sort of mortgage on his copyrights too.

Not saying he doesn't have enough cash flow to pay whatever he owes, but he sure owes a lot on his properties.

[Edited 4/21/11 12:15pm]

laurarichardson said:

RubyButterfly said:

Oh yeah I remember the street parking issues at the last Celebration. I think there were noise complaints from neighbors that he had to deal with also. But he's still mad about all that? That stuff was 9 years ago.

Whatever his nose is out of joint about in regards to Carver County, I hope things work out and he keeps the land...it's beautiful. The last time I drove by there last summer I saw deer roaming around and it was just so pretty.

He has complained about Carver County taxes in the press before and a lot of people are walking away from their properties these days due to the lost of value. I am sure he knows he owes the money and he could be walking away from this property as well as the many properties he owns in Carver County.

That would be dumb.

unique said:

Genesia said:

What I don't get is...why is there still a mortgage that big on property he's owned for...geez...at least 25 years? He must've borrowed against it more recently.

He better pony up, or Mani might end up owning that land anyway.

actually it's simple economic sense to buy expense properties like that with mortages. you will actually find that most celebs with massive mansions have the properties mortaged. the finances the artists earn can be used as cashflow for other more profitable investments

Well, duh.

But he bought that land at least 25 years ago. My point is that he must have refinanced - and cashed some equity - in the not-too-distant past. Otherwise, it would be almost paid off (assuming a 30-year fixed-rate mortgage).

paisleypark4 said:

http://www.chanvillager.com/news/housing/default-prince-property-prompts-foreclosure-proceedings-104

What the hell?

Default on Prince property prompts foreclosure proceeding

Submitted by rcraw on April 20, 2011 - 1:23pm.
» Read similar stories filed under:

Housing By Richard Crawford editor@chanvillager.com Property owned by music icon Prince is undergoing foreclosure proceedings and is scheduled to be sold at a sheriff sale on May 13 unless the mortgage is reinstated before then. The 20-acre property, located at 7141 Galpin Blvd. in Chanhassen, formerly was the site of Prince’s home, which was demolished in 2005. According to the foreclosure notice published in the Chaska Herald, the original amount of the mortgage for Prince R. Nelson was $605,000 in 1994. The amount due on the mortgage is $368,382. Carver County property tax records estimate the land value of the property at more than $1 million. According to the law firm of Wilford & Geske, there is a decent likelihood that the mortgage will be reinstated prior to the May 13 sale. To reinstate the mortgage, delinquent mortgage payments would need to be made current.

If he doesn't need the property why keep it. If it goes into foreclosure, is that necissarily a 'bad' thing?

PurpleLove7 said:

paisleypark4 said:

http://www.chanvillager.com/news/housing/default-prince-property-prompts-foreclosure-proceedings-104

What the hell?

If he doesn't need the property why keep it. If it goes into foreclosure, is that necissarily a 'bad' thing?

It's a bad thing for the market, yes. If he doesn't want it, he should sell it. Or stop refinancing it, at the very least.

PurpleLove7 said:

paisleypark4 said:

http://www.chanvillager.com/news/housing/default-prince-property-prompts-foreclosure-proceedings-104

What the hell?

If he doesn't need the property why keep it. If it goes into foreclosure, is that necissarily a 'bad' thing?

Yes, it's a bad thing. If it's foreclosed on, he loses every bit of money he's put into it - and all the money he could have netted had he simply sold it.

You don't just walk away from property you've purchased. Especially if it's worth more than you paid for it.

Spinlight said:

PurpleLove7 said:

If he doesn't need the property why keep it. If it goes into foreclosure, is that necissarily a 'bad' thing?

It's a bad thing for the market, yes. If he doesn't want it, he should sell it. Or stop refinancing it, at the very least.

I asked a co-worker of mine about this and he explained foreclosures to me breifly about it. Scratch what I said earlier ... LoL

PurpleLove7 said:

Spinlight said:

It's a bad thing for the market, yes. If he doesn't want it, he should sell it. Or stop refinancing it, at the very least.

I asked a co-worker of mine about this and he explained foreclosures to me breifly about it. Scratch what I said earlier ... LoL

Yeah, it's not pretty. I'm not even sure why he would want a foreclosure on his credit report. Not that that matters at his level, but still.

Actually, come to think of it, I am sure his credit report is complete shit already cuz you really can't stop those debtors from putting things on there and he is notorious for missing huge, huge bills and being in complete default all the time.

Genesia said:

unique said:

actually it's simple economic sense to buy expense properties like that with mortages. you will actually find that most celebs with massive mansions have the properties mortaged. the finances the artists earn can be used as cashflow for other more profitable investments

Well, duh.

But he bought that land at least 25 years ago. My point is that he must have refinanced - and cashed some equity - in the not-too-distant past. Otherwise, it would be almost paid off (assuming a 30-year fixed-rate mortgage).

there are many more options than a 30 year repayment mortgage. he may have refinanced in the early 2000's when the studio was done up prior to the musicology tour when he was still playing theatres like hit and run 2000 and ONA

unique said:

Genesia said:

Well, duh.

But he bought that land at least 25 years ago. My point is that he must have refinanced - and cashed some equity - in the not-too-distant past. Otherwise, it would be almost paid off (assuming a 30-year fixed-rate mortgage).

there are many more options than a 30 year repayment mortgage. he may have refinanced in the early 2000's when the studio was done up prior to the musicology tour when he was still playing theatres like hit and run 2000 and ONA

Again - I know that. That's why I used the word "assuming."

I'm not interesting speculating on why he refinanced. I simply said that he must have.

Spinlight said:

PurpleLove7 said:

I asked a co-worker of mine about this and he explained foreclosures to me breifly about it. Scratch what I said earlier ... LoL

Yeah, it's not pretty. I'm not even sure why he would want a foreclosure on his credit report. Not that that matters at his level, but still.

Actually, come to think of it, I am sure his credit report is complete shit already cuz you really can't stop those debtors from putting things on there and he is notorious for missing huge, huge bills and being in complete default all the time.

It never occurred to me that Prince has a credit report. Perhaps his next song could be a jingle for one of those freecreditreport.com commercials.

electricberet said:

Spinlight said:

Yeah, it's not pretty. I'm not even sure why he would want a foreclosure on his credit report. Not that that matters at his level, but still.

Actually, come to think of it, I am sure his credit report is complete shit already cuz you really can't stop those debtors from putting things on there and he is notorious for missing huge, huge bills and being in complete default all the time.

It never occurred to me that Prince has a credit report. Perhaps his next song could be a jingle for one of those freecreditreport.com commercials.

Everyone has a credit report.

Genesia said:

electricberet said:

It never occurred to me that Prince has a credit report. Perhaps his next song could be a jingle for one of those freecreditreport.com commercials.

Everyone has a credit report.

I know. I just hadn't thought about what Prince's might look like.

electricberet said:

Genesia said:

Everyone has a credit report.

I know. I just hadn't thought about what Prince's might look like.

Swiss cheese, I'm thinking.

PurpleLove7 said:

Kiran Sharma, who described herself as someone who manages "some of his business affairs,"

Oh, that poor thing. My heart breaks for her

Now u can all go back to your daily lives. The bill is paid.

pop life!....dig it!