Wyclef Ordered To Immediately Pay Major Money Over Home He Loss To Foreclosure
Wyclef Jean is the latest member of the Fugees to be faced with financial woes. According to The Blast, the “Ready Or Not” rapper has been hit with a $484,000 bill after losing a home to foreclosure. It has been reported that Wyclef, his company and his cousin/producer Jerry “Wonda” Duplessis have all been included in the judge’s order for the massive payment. The total cost of the judgement reportedly comes to $484,554.90.
Property Details:
The latest judgement follows a years-long legal situation with the Florida property. Back in 2008, Wyclef was slapped with a lawsuit when he defaulted on a mortgage loan for a residential property he purchased in Miami, FL but failed to complete. A judge signed an order for the home to be auctioned off. Unfortuantely for Wyclef, the home only sold for a fraction of its estimated worth. Of the $2.4 million judgment Wyclef was faced with, the home sold for $1.6 million. Therefore, he was left with a $824,000 deficit.
At the time, Wyclef entered into a payment agreement with The Cruz Family Irrevocable Trust, listed as one of the plaintiffs in the case. He’d agreed to pay $350,000 of the deficit. The rapper was supposed to make payments until the debt was paid, but to no avail. The debt was supposed to be paid by 2015. Since the debt was never paid, the plaintiffs have gone a step further to recoup the funds. The $484,554.90 includes the principal amount of $350,000 plus interest that has incurred over the past few years.
Comin’ After Wyclef’s Assets:
Since the debt has yet to be paid, the Cruz Family Irrevocable Trust is now resorting to other alternatives to get the payment their after. According to the publication, the Cruz family filed documents in New Jersey to go after Wyclef’s other properties and personal assets to recoup the funds. They are said to be in the early stages of seizing assets and property from the rapper. So, it looks like this situation could get alot worse before it geets any better unless Wyclef pays the bill. Until then, best of luck to Wyclef.
