Remember T-Boz’s Georgia mansion she almost lost to foreclosure a few years back? Well, according to TMZ, she recently sold it, but for only half of what she paid for it.
The TLC singer almost lost her home in 2008 when she failed to make the mortgage payments on time, but was able to keep it from going on the auction block. She eventually filed for bankruptcy in 2011, with the mortgage on her home being her main debt.
The singer sold it for $680,000, a far cry from the $1,122,700 price she purchased it for back in 2001.
The problem is that whenever we as black people purchase homes, we think about entertaining others in it, instead of ” this is where my family will live and grow ” too much home for one person if not, she would have just paid cash,or put a lot of money down and made the house work for her instead of the opposite.
Can anybody tell me why people like her dont just payoff the homes when you get it no payments no problem..
Wow…that’s condo money here in FL. I hope she is able to get ahead without the mortgage sitting on her shoulder, but then again…her health issues; and I’m sure she doesn’t have BCBS of GA…didn’t someone bail her out, another entertainer???