Friday, June 4, 2010

Dow Industrials Down 323; "Rapper Chamillionaire Ridin’ Into Foreclosure on Houston Mansion"

Man it's gotta hurt, especially with that nom-de-hop.
From the WSJ's Developments blog:
Giving back the house has officially gone mainstream, which might have lenders singin’ the blues. Rapper Chamillionaire, known for his song “Ridin’,” became the latest homeowner choosing to default on his mortgage. He abandoned his Houston mansion instead of making payments on a house that’s worth less than what he paid, TMZ reports.
The rapper, whose real name is Hakeem Seriki, calmly tells the gossip site, which caught up with him Thursday outside a New York hotel, that he simply “decided to let that house go because the house ended up being worth nothing.”...