Reality TV stars Jim Jones and Chrissy Lampkin lived a fabulous lifestyle on their mortgage bank’s dime. Their New Jersey mansion was recently auctioned off after they stopped paying their mortgage 9 years ago!
According to gossip blog Bossip.com, Jones and Lampkin, 48, last paid their mortgage in 2010. The $680,000 home was recently auctioned off for just $100 in foreclosure.
The U.S. National Bank Association sued the couple back in 2017 for defaulting on their mortgage loan. Jones purchased the house in 2006 with a $680,000 mortgage loan at 6.875% interest.
The 43-year-old rapper agreed to make payments of $4,467 each month, but he soon stopped paying the mortgage. He hasn’t made a mortgage payment in nearly a decade.
According to his mortgage agreement Jones would be liable for the entire loan if he went into default.
The couple eventually agreed to a settlement to avoid foreclosure. But they never met the terms of the settlement and the house went into foreclosure.
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