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Hip Hop News
Damon Dash In Financial Trouble?
August 21st, 2008 | Author: Danielle Harling
According to the New York Post, Hip Hop mogul Damon Dash is facing potential foreclosure due to a lawsuit he and his wife Rachel Roy are facing.
The couple are being sued by Eastern Savings Bank because of mortgage payments they haven't made on two of their homes since January of this year. The mortgage payments for the homes total $78,000 per month on a $7.3 million mortgage.
The two homes are located in Tribeca, an upscale neighborhood in Manhattan.
Not only are two of Dash's homes facing foreclosure, but according to the NY Post Dash also owes $2 million in back taxes to the city of New York.
Dash is the former CEO and founder of Roc-A-Fella Records, in 2004 he sold the company to Island Def Jam Records.
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