When The Checks Stop Coming In: Wyclef’s Miami Crib

- By Bossip Staff

Posted by Bossip Staff

Wyclef’s Miami crib is being foreclosed:

Proving that foreclosures spare no one, a Miami Beach property owned by hip-hopper Wyclef Jean is about to be auctioned on the proverbial courthouse steps, according to court records.

Through a corporation he owns with friends, the former guitarist of The Fugees borrowed $2 million from Home Equity Mortgage Corp. in 2004. He wanted to rebuild a canal-front home next door to Kennedy clan stalwart Anthony Shriver, Maria’s little brother.

But a series of construction liens filed since then shows the Pine Tree Drive project was burdened by a heap of financial trouble.

With the music industry revenues declining and the spiraling economy, this bling sh*t and “making it rain” stacks in the club is about to get real old, real quick. Poor thang.

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Comments

  • Just me

    1st

  • chrissy

    THIS IS GREED HE ALREADY OWNS A MANSION IN NEWJERSEY SO WHY BUILD THIS HOUSE IN MIAMI, HE SHOULD HAVE BORROWED THE TWO MILLION TO FEED THOSE STARVING HAITIANS…

  • Just me

    Well @ least it wasn’t on bling. You can’t just live with bling

  • chrissy

    AND MILLION DOLLAR MANSIONS IN MIAMI ARE GOING VERY CHEAP NOW, YOU CAN GET MILLION DOLLAR CONDO’S FOR TWENTY THOUSAND DOLLARS NOW..THAT’S WHY THEY’RE SO MANY FORECLOSURES BECAUSE THE PROPERTIES AND NOT WORTH THE PRICE.

  • chrissy

    THIS IS CLEARLY A STORY OF TRYING TO LIVE UP TO THE JONES OR SHOULD WE SAY KENNEDY’S..

  • http://deleted judyseecan

    You can’t just live with bling

    Totally agree with u ! You know the first and largest dating site for Cougars and Young Men … Sugar Mommy Match.C o m … where cougars and young men seeking love! That’s great!

  • Kia

    GOOD!!! I blame him for Lauryn. I do not wish misfortune on anyone, but this situation is in progress. So, HAAAA!

  • statim08

    Looks like a prison.

  • Nikko

    These “new money” cats (rappers, producers, pro athletes, etc.) need to realize their money is nothing like Kennedy money. There are some people you just can’t live like.

  • Mike

    It was probably a business decision not a lack of money. When a property is upside down in value you’re better off halting the project and letting it foreclose..when you have real money, you don’t give a damn about credit. Credit is slavery, not freedom. Wyclef good move.

  • DR.FUNK

    Miami property values are in the toilet now.He’s walking away like so many others.Just as well…Looks like he was going for that 90’s “drug dealer chic” look with the house anyway.

  • DR.FUNK

    @MIKE:

    Agreed.

  • DR.FUNK

    I get a kick outta’ these clowns in NY & LA trynna’ front like their property values are “holding steady”.Especially the idiot javelin catchers who paid 7 figures for a chicken box in the sky.No sympathy.No love.Take you lo-ball offers like a man.;->

  • Crazy Ass Rodney

    Poor Wyclef. He’s only got 7 more houses to live in. .

    Poor guy

  • Oshie's Weekend Madness

    Maybe he can rent out his giant dome for some extra $$$

  • http://gallery.me.com/silkyj#100088 Txhustla15 (Austin's Finest)

    @ Mike

    It was probably a business decision not a lack of money. When a property is upside down in value you’re better off halting the project and letting it foreclose..when you have real money, you don’t give a damn about credit. Credit is slavery, not freedom. Wyclef good move.

    – yup real talk there , given the location of this property dont think its retailing for “20k” heh cause if it was would scoop it in a minute. Not a bad house if the work was completed just doesnt look like much of a front yard/drive

  • Qi-Qi

    Clef is NOT broke. Trust me. His wife just opened another couture boutique in NJ and he will be having his big ass New Years Eve party as he does every year. Sometimes it’s best to just walk away from a bad investment.

  • realtalk

    If he is not broke, he sure is making some bad financial decisions. He better hope he gets the records straight on his charity Yele Haiti; because, if he has f*ck-off some of those high profile celebrities money his assmay end up behind bars. NYposted reported last week that he has not file income taxes on the charity in 8 years and that he owes the state of New Jersey $183,172. If your liabilities are greater than your assets “YOUR ASS IS BROKE”.

  • realtalk

    That should be as reported in the NYPost.

  • jacob

    I hope all his financial woes aren’t true. I actually donated to Yele sometime ago, with the intention that Wyclef was helping fellow haitians. This kind of stuff makes you not want to donate to any charity because of internal corruption.

  • L.A. Chic

    Damn Clef

  • *Ms. NYTX* -han'lin bizzness

    uhmm…was it finished?..

  • Creole Baby Justa Snare & a 808

    clef mayne . . you messed up

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