The son of jailed rap mogul Suge Knight is set to star in his own real estate reality series. VH1 bosses have ordered eight episodes of Love & Listings, in which real estate agent Jacob Knight and his colleagues find their high-profile clients dream homes.
Posts Categorized: real estate
Former reality TV star Phaedra Parks just listed her Atlanta mansion for $10,000 a month rent. Parks purchased the beautiful north Atlanta mansion for $1.9 million late last year.
Carmelo Anthony has millions of dollars invested in a Brooklyn real estate redevelopment. But one local activist is begging him to reconsider his plans.
Thanks to Saptosa Foster, of The 135th Street Agency, for my personal invite to attend last night's Premiere Watch Party in Atlanta for HGTV's "Property Virgins" featuring Egypt Sherrod.
Last night, television and radio personality Egypt Sherrod celebrated the Season 9 premiere of her HGTV show "Property Virgins" with friends and family at Atlanta's plush Atlantic high-rise building in Atlantic Station.
Guests -- which included Bobbcat Films' Roger Bobb, tv producer Shante Paige, Sandye Lomax (Beauty Fetish); Egypt's husband, DJ Fadelf (pictured above with Egypt); the "Property Virgins" production crew Cineflix, and a host of local journalists -- munched on hors d' oeuvres as they watched the popular real estate show.
Updated @ 2:38 p.m.
World Changers Pastor Creflo Dollar was arrested and charged with simple battery, family violence and cruelty to children in Fayette County early Friday.
Dollar was booked into the county jail at 2 a.m., according to Channel 2’s Tom Jones. He was released on $5,000 bond Friday morning.
When police arrived at the Dollar home they found a 15-year-old girl who told them Dollar choked her when she tried to leave the home to attend a party. Creflo and his wife, Taffi, built a custom home in Fayette County in 1996.
According to public records the 7401 square foot mansion is valued at $1.2 million. The Dollars paid $21,367 in property taxes in 2011.
Dollar is the founder and senior pastor of World Changers Church in College Park. The megachurch has over 30,000 members. Dollar made headlines last year when he refused to accept former members of embattled preacher Bishop Eddie Long's church after Long settled a lawsuit with four men who accused him of sexual misconduct.
If you have an extra $17.9 million lying around, you can purchase singer Alicia Keys' New York triplex apartment.
From the NY Post's Page Six:
Alicia Keys and her hip-hop producer husband, Swizz Beatz, are looking to unload their luxury penthouse on Crosby Street for $17.9 million. The duo bought the lavish SoHo condo in 2010 for $14.5 million from Lenny Kravitz. (The rocker had the apartment — which has also played home to Nicole Kidman and Denzel Washington — on the market for eight years before Keys locked in a deal.) The 6,167-square-foot triplex has 3,000 square feet of terrace space, five bedrooms, four baths, four “powder rooms,” a “state-of-the-art windowed gourmet eat-in kitchen” and “formal dining room . . . encased in a glass solarium,” according to a Sotheby’s listing. And a “floating glass staircase” leads to a “private master suite complete with spa.” There’s an “automated entertainment system” and home theater, plus a wine cellar. Pictures posted of the pad reveal portraits of Keys, Sade, Muhammad Ali and Keith Haring art on the walls, and a Ducati motorcycle parked inside. Keys’ rep declined to comment.
See more pics of Keys' upscale apartment after the break.
But yesterdays announcement of a new $25 billion dollar settlement with the banks over fraudulent home foreclosures may result in homeowners losing their homes immediately.
Come on, did you really think President Obama was going to bail out homeowners the way he bailed out the bankers?
According to Bloomberg.com, the new settlement will result in an increase in home seizures that will inflict "short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely."
"With yesterday’s agreement," Bloomberg notes, "banks are likely to resume property seizures."
The real estate market is still in a slump, so why would Canadian rapper Drake drop almost $2 mil on luxury condos in Miami? Probably because he believed the real estate broker's pitch that the housing market was hot again, and his 2 investment properties would increase in value.
Now Drake is trying to cut his losses, and he hopes one of you will love him enough to want to
tattoo his name on your forehead take his 2 condos off his hands.
According to TMZ.com:
Drake put the properties up for sale last week -- located right next door to each other in Miami's ritzy Marquis highrise -- listing one for $1.9 million and the other for $599,000. Drake combined the two into one MASSIVE condo, and lived in both simultaneously.
The larger one is a sprawling 3,800 square feet with 3 bedrooms and 3.5 bathrooms. The "smaller" one-bedroom condo is still gigantic ... at 1,675 square feet.
Drake purchased the properties together in January 2011 for a combined price of $1.903 million. So, if Drake gets his asking price ... he'll make $596,000 in profit (even though no one ever gets their asking price).
Gossip website TMZ.com reports that Tiger Woods' ex-wife, Elin Nordegren is building "the same" $12 million mansion that she razed to the ground last week. But the architectural rendering of the new home shows a vastly different house from the old mansion which was one massive 9,000 sq ft structure.
The only similarities in the 2 structures are the roof line and the shape of the building. But that's where all similarities end.
The new home is one main house surrounded by smaller houses on either side of it.
A source told PEOPLE.com the old house was 90 years old, infested with termites, and didn't meet code to withstand hurricanes. Elin likely settled on the old house because it reminded her of the stately white stucco mansions back in her native Sweden.
Elin filed for divorce from Tiger Woods after his minor SUV fender bender in Dec. 2009 revealed his secret double life.
According to TMZ, who obtained the public floor plans that Elin submitted to the Palm Beach County Dept. of Planning, Zoning & Building, the new house boasts:
-- 9 bedrooms
-- 2 large living rooms
-- huge formal dining room
-- 2 kitchens
-- large pool
-- pool cabana with HUGE living room
-- 2 jacuzzis
-- detached guest house with 3 bedrooms
-- 3 guest bungalows
-- wine cellar
-- ginormous master wing with crazy big walk in closet
-- basement that runs the entire length of the house
Eddie Murphy's ex-wife, Nicole Murphy, is a the victim of a suave con artist who walked away with a cool $7 million -- half of Nicole's settlement in her divorce from Murphy. According to published reports, Troy David Stratos, was arrested early Tuesday in Southern California and charged with 11 counts of wire and mail fraud, two counts of money laundering and one count of obstruction of justice.
Stratos, who changed his name from Stafford, is reportedly one of Nicole's old high school boyfriends. That explains why she put so much trust in him.
The indictment claims Stratos persuaded Nicole to invest the proceeds of her big-money divorce overseas, where she would earn a higher rate of return. He also convinced Nicole to put her Granite Bay, CA house up for sale. Stratos told her he had wealthy Middle Eastern royal families who were interested in buying the house.
He talked her into leasing luxury Rolls-Royce and BMW automobiles to make the property look more attractive. Stratos told Nicole, who wasn't named in the indictment, that he would include the cars with the sale of the house as a package deal.
But investigators say there were no Middle Eastern investors, and the con artist never put the house up for sale. Instead, Stratos secretly moved into the house and drove the luxury cars as if they were his.
Thom Mrozek, a spokesman for the U.S. attorney in Los Angeles, said Stratos has agreed to be returned to Sacramento to face the charges. He is currently being held without bond pending a bail hearing scheduled for Wednesday.
Rapper Soulja Boy has more problems to worry about than drug busts and poor album sales. Gossip website TMZ reports that the rapper is about to be evicted from his Buckhead condo near Elton John's old digs.
Soulja's 2011 has included ... lying about buying a private jet, pissing off the military with one of his songs and getting arrested for allegedly carrying weed and a gun in a briefcase.
Now TMZ has learned the rapper, real name DeAndre Way, has not paid his November rent for his Atlanta pad -- a whopping $4,725 -- so he's been served with eviction papers. Soulja has until December 5 to pay up, or risk getting thrown out. Source
Not many people live to be 103 years old. But rather than celebrating her 104th birthday in 3 weeks, Vita Lee worries about staying in her home.
Channel 2 Action News reports that movers hired by Deutch Bank, and sheriff's deputies arrived at the ranch style home yesterday to evict Ms. Lee and her 83-year-old daughter as community activists and Channel 2's Ryan Young gathered outside. But after seeing Ms. Lee in her fragile state, the movers and sheriff's deputies refused to go through with the eviction.
"I saw the sheriffs who came to put them out take off and leave. I gave all glory to God," community activist Michael Langford said.
"This family has been waging a war against Deutch Bank," said community activist Derrick Boezeman.
The eviction action was too much for Ms. Lee's daughter. An ambulance rushed her to Grady hospital as news cameras rolled.
When Ms. Lee was asked if she knew she was being evicted, she said, "No. I knew they didn't know what they was doing. God don't let you do wrong." She added: "You know, the Bible says 'once a man and twice a child'. I'm a child, 104-years-old. Don't put me outdoors at 104."
Young explained that the house and case have been in the court system for years. Ms. Lee and her daughter has shared the home on Penelope Street in Northwest Atlanta for 53 years.
Ms. Lee had one last message for the ruthless bankers: "Please don't come in and disturb me no more," she said. "When I'm gone y'all can come out here and do anything you want to do."
Beyonce and her baby bump were spotted house hunting in Miami Beach with her hubby, Jay Z yesterday. According to INF Photo Daily:
"A pregnant Beyonce Knowles and Jay-Z are seen driving around house shopping in Miami, Florida. Knowles wore a bright yellow flowing muumuu frock and comfortable flat sandals."
Photos: INF PHOTO
Uber stars Will and Jada Pinkett-Smith gave Architectural Digest an exclusive look inside their 25,000 square foot Adobe-styled home. The Smith’s luxury crib was designed by architect Stephen Samuelson, with interiors by Judith Lance. The custom furniture added an additional $250,000 to the cost of the unique private residence.
The federal housing administration (FHA), under an initiative from the White House, will extend the time period when banks can foreclose on homes, according to AJC.com.
This comes as great news for the chronically unemployed whose homes are seized by banks after missing just a few mortgage payments.
Now unemployed homeowners can miss 12 payments instead of 4 before their homes are foreclosed upon.
“The current unemployment forbearance programs have mandatory periods that are inadequate for the majority of unemployed borrowers,” U.S. Housing and Urban Development Secretary Shaun Donovan said.
“Today, 60 percent of the unemployed have been out of work for more than three months and 45 percent have been out of work for more than six. Providing the option for a year of forbearance will give struggling homeowners a substantially greater chance of finding employment before they lose their home,” Donovan said.
All FHA-approved banks must participate, according to a Housing and Urban Development press release.
Talk about audacity. A woman has admitted to defrauding financial group ING out of over $56 million, in what's being called the largest embezzlement fraud case by a single individual in Australia's history.
Rajina Rita Subramaniam, 41, siphoned $56 million (in U.S. currency) from ING coffers, which she deposited into private accounts to fund her extravagant lifestyle. The former senior accountant for ING is accused of spending millions of dollars on cars, homes, jewelry, high end clothing, shoes, bags, exotic trips and Michael Jackson memorabilia.
When she was arrested, police recovered a haul of expensive merchandise purchased by Subramaniam, including 600 pieces of jewelry from exclusive lines such as Bulgari, Tag Heuer and Tiffany & Co.; 200 Chanel products including clothing, perfume and makeup, tailored clothing by Hugo Boss and Armani, Mont Blanc stationary and a $600 bottle of Moet & Chandon Dom Perignon champagne.
She allegedly spent more than $16 million on jewelry purchases at Paspaley Pearls jewelry store alone.
ING Group is a global asset management organization with over 54 billion in reported revenue in 2010.
Subramaniam's 20-year web of deceit unraveled in 2009 when suspicious high end retailers complained to ING about Ms. Subramaniam's extravagant million-dollar purchases.
This is a typical $1 million mansion in Lahore, Pakistan, not far from the "luxury" digs in Abbottabad, Pakistan where the world's most wanted killer, Osama Bin Laden, stayed holed up until his death.
By contrast, this is the 3-story "mansion" where Osama spent his last few years on earth hiding from the prying eyes of military forces. The house was built in 2005 to house Osama, his youngest wife, one of his sons and 19 others, including the courier who unwittingly led U.S. forces to the hideout.
The land and the home are estimated to be worth about $1 million, but the compound had no Internet or telephone service. It was ringed by thick 12 to 18-foot walls topped by barbed wire.
Rather than put their garbage out by the curb for pickup like their affluent neighbors, the residents of the compound burned their trash in the yard.
The home had few windows facing the street. A third floor balcony had a 7-foot privacy wall. These outward signs gave every indication that someone important was hiding out there.
Abbotabad is described as a beautiful, sun splashed tourist destination with a golf course and quaint restaurants.
The compound was located just a hundred yards from a military training academy and a few hundred yards from the Pakistan Army Medical Center where it is believed Osama received treatment for kidney failure, low blood pressure and diabetes.
A video obtained by ABC News showed bottles of medications lining a shelf in a bedroom where bin Laden, 3 men and his teenage wife were executed on Sunday.
According to British tabloid The Daily Mail, U.S President Barack Obama watched the raid on the compound in real time on television in the situation room of the White House.
Image of Lahore mansion provided by meirajhaq
Troubled singer Chris Brown just moved into a luxury condo last month, but his new neighbors already wish he would move.
According to Radar Online, Brown, 21, is very disrespectful of his neighbors who live in the 2 year old condo on Fountain Avenue in West Hollywood, California.
Brown paid $1.6 million for the 3,000 square foot, 3 bedroom penthouse which occupies the two top floors. The condo boasts stainless steel appliances, an open floor plan, 10-foot ceilings, a spacious patio with "incredible city views" and direct elevator access. Its listing brags that the condo is "A perfect place for entertaining."
But his neighbors aren't entertained by the loud racket caused by Brown and his friends who come and go at all hours of the night.
“He just moved in around a month ago and he’s already received a warning," a source told Radar Online. "The tenants are just really worried – if he’s like this straight off the bat, they wonder if it's going to get any worse."
“The building isn’t meant to be some kind of party house," the source continued. "Residents don’t want that and they don’t want to live in that kind of environment. The tenants are complaining about him and the noise he’s generating, they’ve even had to give him at least one warning. He needs to keep the volume down – people are sick of his behavior.”
“Chris Brown is a problematic tenant, to say the least,” the source says. “He has his posse traipsing around until the late hours of the night, he’s loud and totally disrespectful of his neighbors. He’s driving the other tenants in the building crazy."
Why didn't he just buy a house instead?
Edited to remove the boy's address. Originally posted on Mar 29, 2011 @ 1:39 p.m.
Last night, while talking to a record label executive about another matter, the exec casually mentioned that R&B singer Keyshia Cole was back home in Atlanta after being chased out of her mini mansion by a stalker in 2009.
The exec went on to say that Cole abandoned her beloved home for the safety of the west coast to get away from her determined super Stan, who was eventually caught with a large cache of weapons and sent to prison.
"She's back in Atlanta checking on her house because he can't bother her any more," the executive told me.
Keyshia considered putting her custom built 5 bedroom, 5.5 bath Alpharetta home on the market in 2009 after a stranger followed her home one night. “I own a gun – a Glock... and I called the police and told them I’d kill him and that I prefer not to,” said Keyshia in a cover story for the June 2009 issue of KING magazine.
Keyshia paid $827,000 in June 2006 for the 5,447 square foot home located in a posh subdivision in Johns Creek. But the depressed housing market sparked by the failing economy sent home prices plummeting in her neighborhood. Homes on Keyshia's street are now selling in the low to mid 500K range.
Actress Lindsay Lohan, 24, was seen entering the Equinox fitness center in West Hollywood yesterday. LiLo was wearing a black Nike jogging suit, a cute Burberry studded cashmere check scarf ($695) and a black Burberry studded leather Knight handbag ($2,195).
Never in a hundred million years would I drop $695 on a scarf. But then I'm not ballin' like LIndsay, who recently moved into a $7,100 a month luxury Venice Beach condo after leaving drug rehab. Speaking of which, if you recall yesterday I told you that Lindsay's ex-girlfriend, DJ Samantha Ronson, is not too happy that Lindsay moved right next door to her.
Lindsay is now telling friends that she had no idea Ronson lived next door. LiLo said she knew the moody DJ lived "somewhere in Venice Beach" but she didn't know where.
Photos: Splash News Online
A teenager has been arrested and charged with breaking and entering into Tyler Perry's home. According to the AJC, Chloe Ware, 18, was caught within moments after breaking into the actor and playwright's mansion on Paces Ferry in Atlanta.
Perry's bodyguard caught Ware around 4 a.m. last Thursday, but two others escaped, police said.
Ware was booked and released on her own recognizance. The career criminal has been arrested in the past for auto theft and shoplifting, among other charges.
Perry recently offered to rebuild the burned out home of a 85-year-old Atlanta woman, who narrowly escaped the fire with her 4-year-old great granddaughter.
Speaking of mansions, word has it that music producer-turned-DJ Jermaine Dupri's Paces Ferry home and studio are headed toward foreclosure. Friends say Dupri, who recently laid off his entire staff at So So Def Records, is hemorrhaging money due to his insatiable appetite for strippers.
Music producer Pharrell Williams invited photographer Todd Selby into his $14 million Miami penthouse to take pictures of his collection of 'Family Guy' art, Bape statues and other toys... yes, toys. Pharrell, who coined the term "kidult" is another one of those rich oddballs who refuses to grow up.
Any woman walking into a grown man's home should be immediately suspicious of him if she sees a bunch of toys lying around in a space where there are no children present. There is nothing cute about decorating your home to make it attractive to little children (à la Michael Jackson).
Click link to read more
Uptown magazine caught up with NBA superstar Dwyane Wade for a revealing look into his private life.
The 28-year-old, who once owned a 9,000-square-foot mansion in a tiny Miami suburb, now lives in a lovely yet modest row house (even though he reportedly earned $15 million last year). Wade explained that as he grows older (and settles down) he's let go of the flashy, material things that he accumulated in his youth.
On His Relationship With Gabrielle Union:
“I found someone I have a great relationship with and that was the most important thing. You have to like the person you’re around before you can say you love them,” Wade says. “That’s the biggest thing right now; we want to make sure that we stay liking each other.”
On His Chicago Home:
“I don’t need something too big. I’m in Miami most of the time. And I fell in love with [this property] once I was able to put my own personality into the house,” says Wade. “Every time I walk in my door, [I am reminded of] the journey that it took to get here and the hard work that I have to put in to continue to stay here.”
In case you missed the season 3 opener of Real Housewives of Atlanta, Hulu.com has a bunch of videos up. They had the full episode this morning, but of course Bravo made them take it down.
For starters, Bravo has already signed off on this flop -- and I hear there won't be a season 4. You probably didn't even know that season 3 was premiering last night, did you? Well now you know why.
Another reason may be due to the fact that there is no real drama on the show -- other than the badly scripted cat fights between Dwight and NeNe Leakes, whose horrible acting is apparent from the moon.
The season opener introduced us to 2 new cast members (Lisa Wu Hartwell was booted for being too boring), Atlanta celebrity attorney Phaedra Parks and socialite Cynthia Bailey.
In this video showcasing her Atlanta home, Phaedra portrays herself to be a sort of bootleg Southern belle. She comes off looking unbelievably fake. In one scene, Phaedra says she can't show us the contents of her refrigerator because there is only leftover pizza that her husband brought home.
Speaking of Apollo: did he pay for the pizza or did she? Does Apollo have a job to speak of, or is it his job to look pretty and make you women jealous of her like Ed Hartwell did for Lisa Wu last season?
Is Phaedra supporting Apollo just like these desperate Atlanta women who allow lazy, no good men to leach off of them because they lack self esteem? So many questions.
Phaedra's husband is a career criminal who has never held a real job in his life. So it will be interesting to see what she says he does for a living on the show.
Miami Heat superstar LeBron James and his common law wife, Savannah Brinson, have settled for a 'modest' Coconut Grove mansion, not the gargantuan $50 million spread that a certain blogger lied about.
According to a Coconut Grove real estate agent, LeBron and Savannah have decided to purchase a $7 million, 4 bedroom, 5 bath mansion in quiet, secluded Devon Court, a private enclave of 15 homes just south of Miami.
The home boasts a soaring 3-story foyer, an elevator, and his and hers showers in the master bathroom.
In the massive hands of basketball phenom and Miami Heat frosh LeBron James: a contract to plunk down some cash on a villa in Coconut Grove, Fla. Despite the fact that it had been off the market, James first showed interest in the 10,000-square-foot-property in Devon Court, a private enclave of 15 homes, in August. It's not exactly what one would expect form someone who just scored $110M contract, but it's comfy enough: four bedrooms, five baths, a gourmet kitchen, exotic wood and stone finishes, an elevator, and high-tech touch-screen gadgetry that adjusts lights, TVs, and radios from afar. What James will pay is unknown at this point; however, the house has previously sold for $7.65M. Stay tuned for updates: “It’s not officially done (the deed transfer) just yet, but he has a definite interest in it,” according to Miami Realtor Peggy Brin.
Click Link for More Pics
Scroll down for updates...
I thought you guys said Fantasia's gigolo, Antwaun Cook, worked at T-Mobile where they met?
According to loyal reader Aisha R., Cook is a real estate agent who works for Keller Williams Realty.
According to Cook's bio on his website, he's been selling homes since 2003:
I am a proud father of two sons, Christian and Jackson. I graduated from East Carolina University in 2001, with a Bachelor's degree in Business. I grew an interest in real estate originally from the investing side, and have continued in real estate from many different angles for the last 7 years.
So did Cook really meet Fantasia in a T-Mobile store, or is it more likely that they met while he was showing her real estate properties?
According to Aisha, when Fantasia's rep claimed Cook took Fantasia to a home where he lived apart from his wife, he may have actually taken her to an uninhabited model home that was for sale and fully furnished.
Take a closer look at your man Mr. Cook. In the statement that was made by Fantaisa's rep, he took her to his home. It wasn't his home...it may have been a Keller-Williams home fully furnished. If that was the case, he needs to be put up on charges of trespassing and fraud.
Update I, 11:12 am ET:
According to Aisha and Raye P., Cook is the manager of a T-Mobile store. Here's more info.
Update II, 12:12 pm ET:
Loyal reader Kim T. says she attended college with Antwaun Cook and he owns two homes. She also writes that he wasn't into dark skinned chicks until he met one who was a baller.
You should know that in college he was a pretty-boy Kappa who would not even LOOK at brown skin or dark-skinned women back in our college days. He dated my cousin who was light-skinned and would often tell her, "We're looking for those red-bones." He would often say that he only dates light-skinned women and would praise my cousin for her complexion. That is why it's ironic that he's dating Fantasia.
Have a good day
According to WREG in Tennessee, the wife of slain NBA player Lorenzen Wright, Sherra Wright, was evicted from her Collierville, TN home.
According to neighbors, Sherra Wright and her 6 children moved into the home that she rented last November. The Wrights also have two other homes that fell into foreclosure, leaving Sherra Wright with a debt of $2.5 million.
Sherra Wright's attorney, Gail Mathes, says she is moving her kids to live with one of Lorenzen Wright's parents, Herb Wright, or Deborah Marion in Southeast Memphis.
Mathes says the children, especially the older boys, are having a hard time dealing with the death of their father and the allegations that their mother could be involved.
Mathes says, "They are trying to have privacy. The children are in a lot of pain. The more family support they have, the easier they will have it."
Sherra Wright has also taken her children out of their school.
Meanwhile, we now know what police were looking for when they conducted a search of the home last weekend.
Court documents show that police searched the home for paperwork on two guns that Wright was believed to own, as well as ammunition and cell phones.
The documents indicate Wright could have been shot with his own weapons because "shell casings of different calibers were recovered with Wright's body."
According to a production source for Bravo network's popular Real Housewives of Atlanta series, both NeNe Leakes and Sheree Whitfield will soon be looking for new digs. That is because Bravo is footing the bill to lease both of the luxury homes that you see the ladies and their families enjoying on the show.
I'm told that AJC newspaper has done some research and will soon reveal the details of the lease agreements in an upcoming story in the paper. But remember where you read it first!
Industry insiders have been whispering about the temporary lease agreements all season. "Everyone wants to know if they're going to stay in the homes or be forced to move," said one industry insider.
It's no secret that the girls blew through their Bravo checks and are now complaining publicly that they have no money now that the show is going into syndication.
"NeNe is doing whatever she can to make ends meet," said the insider. "Her book isn't selling and her husband is out of work, so she's hurting right now." The insider said west coast promoters fly NeNe to LA to host events and put her up in fancy hotels. But she returns home broke.
If you recall, NeNe and her husband Greg Leakes were served with an eviction notice on their Duluth, GA house last September. They vacated the property in November of 2008.
Then before shooting was to begin on the second season, sources say Bravo took out a lease on a mansion for the Leakes who had moved into a small rental property.
Sources also say Bravo was forced to upgrade the living quarters for Sheree Whitfield and her two kids who were kicked out of the Sandy Springs mansion she once shared with her ex-husband, former NFL great, Bob Whitfield. The $2.4 million mansion sold for $1.1 million in foreclosure earlier this year, according to the AJC.com.
Whitfield wasn't specific about her new place in a phone interview with the AJC's Rodney Ho back in June. She said only that she had "downsized."
Cheronda Guyton was living the high life in a $12 million 3,800 square foot beachfront house in the exclusive enclave of Malibu County. The home Guyton and her family resided in was the scene of many lavish galas that lasted well into the night.
Neighbors wondered how a Wells Fargo bank VP could afford the beachfront property's $60,000 a month rent on her salary -- even with bonuses.
The problem is the Senior Vice President in charge of foreclosed properties at Wells Fargo, wasn't renting or buying the posh home.
The previous owners, who lost money in the Bernard Madoff Ponzi scheme, turned the home over to Wells Fargo bank to pay off a higher debt.
The bank agreed not to sell the home so the owners could align their debts and get it back. Guyton and her family moved in shortly thereafter.
According to the LA Times, Wells Fargo last week announced Guyton's termination for the executive's alleged personal use of the home owned by the bank.
Wells Fargo announced it would "take decisive action" against any employee "who may have violated Wells Fargo's policies." The bank in a statement also said it regretted "the disruption to the neighboring property owners since these allegations were made."
Many real estate agents contacted by The Times expressed surprise and said they had not heard of similar incidents.
An agent with Keller Williams Realty, told The Times she was "appalled" by the alleged conduct and what appeared to be an obvious abuse of a position.
But one agent, Farrell "Burt" Bakman of Coldwell Banker in Beverly Hills, believes Wells Fargo knew about the illegal home squatting. He said he saw no problem with a lender using a property "as some sort of a bonus" for their executives.
"It makes sense," he said. "It's thinking outside of the box for Wells Fargo. They just hold on to it as an asset."
Thanks to loyal reader Kimalah for the tip!
Last year it was NeNe Leakes and her bogus real estate guru husband Greg. This year it was faux fashion designer wannabe, Sheree Whitfield, and now it's Lisa Wu's turn to face reality after faking prosperity on a fake reality show.
According to TMZ.com, Lisa Wu Hartwell and her husband, former Oakland Raiders linebacker Edgerton Hartwell, lost their multi-million dollar Duluth home to foreclosure.
Apparently, the Hartwells got into their home using one of those creative financing deals that were so popular years ago when the housing market was booming. But then the housing bubble burst and the Hartwells were forced to plead with their mortgage lender to restructure the deal. But if they read the AJC business section (since they're all up in it) then they should have known that bankers aren't trying to hear that these days: they want their money.
The Hartwells bought the plush mansion for $2.9 mil in 2007, but the bank lost a cool mil when it was resold this month for $1.9 mil. So the Hartwells have now moved on to much smaller rental digs, and hopefully Ed is looking for a job to help pay the rent or we'll be talking about them again when they get evicted.