Incarcerated Rapper Accused Of Falling Way Behind On Mortgage Payments
Juelz Santana is set to be released from federal prison for bringing a loaded gun to the airport in 2021, but when he gets out it looks like he may be without a home.
That’s because the bank is swiftly moving to foreclose on the troubled “Dip Set” rapper’s New Jersey condo after he failed to respond to the case – possibly because he’s behind bars – according to court papers obtained by BOSSIP.
Wells Fargo Bank filed court papers July 29 asking that the judge put Santana in default, saying that he had ample time to answer their suit but never did, the papers state. If approved, the default ruling will automatically put the married father’s condo in foreclosure and possibly have it auctioned in a Sheriffs Sale.
We exclusively revealed that the bank sued Santana – whose real name is Laron James – back in February, alleging that the rapper hadn’t paid the mortgage since July 2018, and wanted him out ASAP.
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 property is now valued at $391,000, according to Zillow, and is located in a tony Northern New Jersey housing development that was once home to the Notorious BIG.
Wells Fargo’s suit marks the third time in two years that Juelz has battled foreclosure proceedings, according to court papers.
The bank wants either the money owed on the mortgage or the home sold in order to recover its costs. It also wants Juelz banned from having any stake in the condo’s equity.
While he was out on bail in his federal gun case, Juelz did not live at the condo, but in the next county over with his now-wife, Kimbella, and their two children.
Santana’s foreclosure isn’t the only home-related lawsuit he’s facing. Both he and wife Kimbella were accused of bailing on more than $17,000 in homeowner’s association fees related to the same condo that is subject to the foreclosure suit.