Bossip: Keith, who makes sure your mortgage gets paid every month?, Keith Sweat: Nobodyyy, babaaay!
According to TMZ reports:
R&B singer Keith Sweat is singing the foreclosure blues … because even after the bank took his house and sold it … he’s still on the hook for $250,000 — this according to a new lawsuit.
PMI Mortgage filed the lawsuit against Sweat in Georgia — claiming the singer defaulted on a $450,000 mortgage on his Detroit home, which he purchased in 2004.
Problem is — the house was drowning underwater … so when the bank sold it, it only recouped $200,000 … a fraction of its losses.
PMI Mortgage sued Sweat for the balance — $253,000 — and since Keith failed to respond, a judge ruled in PMI’s favor. PMI has since sought a lien on Keith’s Georgia property in a last ditch effort to get its money.
Ain’t that a beyotch? Keith Sweat is about to be homeless…SMH
Image via WENN
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