I’m all for the Foreclosure Sticky Thread but I had to throw one up myself.


Doug E. Fresh, the self proclaimed “world’s greatest entertainer,” is the latest rapper to make headlines for his financial woes.

The New York Post reports that because of unpaid mortgages that total close to $3.5 million, the “human beat box” has been hit with foreclosure actions on all three of his Harlem homes. According to a foreclosure suit filed in New York City in August, Fresh fell behind in payments upwards of $1.73 million.

Yet his financial problems don’t end there. The rapper turned celebrity event host, owes over $40,000 in state taxes, which has lead the IRS to tack on an additional $367,000 tax lien onto the bill. The father of five, also has an American Express credit card debt of nearly $60,000.

Fresh isn’t the only hip-hop personality that has been in the news for his economic problems. Ex Roc-A-Fella big, Dame Dash, has been in and out of the papers over the last year, most recently for falling behind on mortgage payments on two of his Manhattan homes. Super producer Scott Storch has also famously made headlines for his debts. The one time go-to musician for stars ranging from Beyonce to Dr. Dre owes over half-a-million dollars in back property tax and is facing child support and paternity suits in Florida. – Jesse Gissen

JackieBlue said:

He was on 1999: The New Master. NEED I SAY MORE?

I thought he owned a whole city block in Harlem. But really, how you gon' tack on $367,000 on $40,000 debt??? That's fucked up, for REAL!

a damn shame

SCNDLS said:

I would love 2 understand that myself.

Graycap23 said:

Same scam they pulled on Joe Louis.

Oh no!
[Edited 12/17/08 16:58pm]

Cinnie said:

Oh, shit!....People shouldn't laugh, but....

SCNDLS said:

Owning costs money. Property taxes and mortgages will kill you!

Couple of massive hits worldwide a zillion years ago. i swear some of these folk are retarded in how they look after their finances, or don't as it appears.

NDRU said:

I KNOW that, but I thought he had paid for them so I'm surprised there are mortgages.

SCNDLS said:

When property owners need money, they tend to take out second or even third mortgages. They also need money to pay the property taxes (which only go up as the property increases in value), and they must pay to maintain these properties, insure them, and rent them.

I give Doug E credit for not living off of his reord sales, such as they are, but for trying to invest in something.

The worst thing you can do is not pay the IRS. They will add fee after fee after surcharge after penalty so that pretty soon, $100 becomes $1,000.

Whats with all these mothafuckers not paying there damn taxes!? And whats with people not being pissed with that? Do you realize when people dont pay that your taxes fucking go up. Wonder why your bus and train fare is going up? because your local celeb aint paying there taxes.

SCNDLS said:

But even with no mortgages the taxes cost a fortune. I saw a house on TV (granted it was a mansion) that cost over $100,000 a year just in taxes.

I don't understand why he didn't sell 2 of the properties so he could keep up with payments on 1 BEFORE it got this bad Maybe he's doing a ton of shit behind the scenes to make $ & thought he could keep up somehow BUT he had to know this shit was coming, & there's no way he NEEDS 3 houses. I'd rather be humble & ditch 2 than try to ball & hit the headlines like this




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[Edited 12/22/08 11:51am]

Doug E. NOOO!

Also, as far as the price tag going up - remember any amount that's unpaid can have a penalty of up to 25% of the TOTAL TAX OWED (not just the unpaid portion, I believe), which can really blow up if they originally owed in the 5 figures... DO NOT fuck around w/ your taxes




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[Edited 12/22/08 11:54am]