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Jermaine Dupri’s Atlanta Mansion Averts Foreclosure

by Minority Fortune

Money these days equal cars, jewelry, flashy toys, strip club allowances, and maybe a rented roof over your head if enough money is remaining. Taxes are totally optional. Apparently, this is the order of priorities in the world of the hardly wealthy. Rarely will you hear the story of the artist with an unpaid tab at a strip club or a luxury vehicle being towed. Yet, real estate gets the end of the rope in this twisted sense of responsibility.

Jermaine Dupri recently has become a victim of his own hardly wealthy behavior. Somehow, we can’t see this situation as “living the life”. WSB TV reveals the details:

Channel 2 Action News has learned that Dupri’s mansion on Mount Paran Road in northwest Atlanta was in foreclosure and set to be auctioned on the courthouse steps last week, but the sale was canceled at the last minute.

The law firm handling the foreclosure would not say why the sale was stopped.

Suntrust Bank had started foreclosure on an original loan amount of more than $2.5 million.

According to records Channel 2 obtained from the Georgia Department of Revenue, Jermaine Dupri Mauldin owes the state $493,768.75 in back taxes for 2007.

Channel 2′s Tom Regan also spoke with a contractor who has a filed a lien against Dupri’s property.

Shane Cox of Design Logistics said Dupri still owes him $12,000 for managing the star’s mansion. His services included renovation and design.

“We would bring everything in, assemble, set up. Hang all the art. The art hanging in the house. Things along those lines. I feel he’s a pretty nice guy. I hope he will come forward and take care of the debt we have,” Cox told Regan.

Regan also spoke with Fayette County Tax Commissioner George Wingo. Wingo sent Regan documents showing Dupri owes $14,024.67 in unpaid property taxes, fees and penalties in connection with another home Dupri owns.

Regan went to Dupri’s home and rang the intercom at the security gate in hopes of getting a comment from the music producer, but got no answer.

Two phone numbers for So So Def Records, Durpri’s record label, were disconnected.

Jermaine Dupri in his prime was a leading record producer and executive in the urban music industry. However, it’s no secret that his previously thriving career is no longer relevant. J.D. has also neglected to branch into other industries for income diversity. However, there’s no excuse for racking up half a million in debt in 2007.  At the time, he had his hand in grooming successful artists like Bow Wow’s career. Now he’s really going to pay for his financial negligence.

This act goes to show for the 1,000th time that “living the life” may come to an end if you’re simply caught up in the moment. No one had anything to say about JD’s lavish purchases when he was on top. Regardless of how much money he has in the bank, articles like these have you looking exceptionally bad and broke. Jermaine, let’s hope you get it together.

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