Rapper Jim Jones and his long-term partner Chrissy Lampkin allegedly owe approximately $1.2 million on their New Jersey home. Due to the couple not making payments on their 5 bedroom and 3 bathroom home, it was auctioned and sold for a mere $100.
According to Bossip, the U.S. National Bank Association sued the couple in 2017 for allegedly failing to pay their mortgage since 2010. The complaint states Jones took out a $680,000 mortgage with a 6.875 percent interest rate when he initially purchased the home in 2006 and agreed to make monthly payments of $4,467.
However, the bank said Jones stopped making payments almost ten years ago, and under the terms of his mortgage, the entire amount would be due if he went into default. The bank said they reached an agreement with Jones and Lampkin to pay the debt and get the home out of foreclosure last year but eight months later, the bank asked the court to issue a final judgment against the Jones and Lampkin.
The judge put the couple in default after neither party responded to the case and the home was eventually sold back to the bank at a Sheriff’s Sale earlier this year for just $100, according to court documents. The bank says Jones and Lampkin owe $1,240,017, including interest, real estate taxes, advances and homeowners insurance. The home is currently listed at $742,000.
How the f#ck did the bank buy a $700,000 house a $100? That’s some shady sh!t. I got to get my real estate sh!t together.