Bank Says Rapper Fell Behind On House Payments
Juelz Santana is facing up to 20 years in prison for his airport gun case, but to make matters worse, the fate of his luxury home is also on the line.
Wells Fargo Bank sued Juelz – real name Laron James – last week to foreclose on his New Jersey condominium, alleging the troubled rapper hasn’t paid the mortgage on his plush pad in the same tony North Jersey development where Notorious B.I.G. lived, according to court documents obtained by BOSSIP. Juelz, whose real name is Laron James, is several months behind on the mortgage payments, according to the suit.
It’s the second time in as many years that Juelz has faced foreclosure on the home. He narrowly avoided being foreclosed on back in 2016 but inked a deal with the bank at the last minute.
Juelz bought the 2,300 square foot condo in 2005 for $540,000 and financed it in part with a $486,000 mortgage with 8.5 percent interest rate, his mortgage states. He agreed to make monthly payments of $3,754 for 30 years to pay for the home.
The timing of the lawsuit is also interesting, because Juelz recently asked the judge in his gun case to ease his bail restrictions so that he could begin touring again to earn money to support his family, arguing that shows were his only source of income and he had a girlfriend, children and several relatives to support. He later withdrew the request.
The foreclosure suit, filed June 1, comes as federal prosecutors allege the Dip Set rapper brought a loaded gun to Newark Airport last March as he tried to board a flight to a club appearance in California. TSA agents intercepted the .38 from his carry on luggage, and he was later charged. He is facing up to 20 years in federal prison for the alleged crime and has remained on house arrest at his mother’s home, which is not the house in question.
Hit the flip for Juelz’s foreclosure paperwork: