Music Producer, Jermaine Dupri Avoids Foreclosure

7 May

The Atlanta home of music producer Jermaine Dupri was not auctioned on the courthouse steps as planned.

According to news sources in Atlanta, Dupri’s mansion in northwest Atlanta was in foreclosure and set to be auctioned 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 initiate foreclosure proceedings on an original loan amount of more than $2.5 million, according to the article on wsbtv.com. The home was built in 1990.

Dupri’s home is located at 7 Whitewater Trl NW, Atlanta, GA 30327.

This looks like a strategic foreclosure. Zillow.com revealed that Dupri’s home has been on the market since 2009 and since it was originally listed for sale for $1.5 million in January 2009, it has taken a number of price drops, moving down $300,000 to $1.2 million as of February 2010. Nabaa and Associates listed the house for sale again in December of 2010 for a mere $800k before removing the listing at the end of March 2011.

Dupri reportedly also owes $14,024.67 in unpaid property taxes, fees and penalties in connection with another home in Fayette, Georgia.According to records from the Georgia Department of Revenue, Jermaine Dupri Mauldin owes the state $493,768.75 in back taxes for 2007.

Dupri could not be reached for comment. Two phone numbers for So So Def Records, Durpri’s record label, were disconnected. In December 2010, it was reported that Jermaine laid off his entire staff at So So Def Records.

Dupri, the former boyfriend of Janet Jackson, has been having funny money for a while. In 2008, Jermaine Dupri’s restaurant Cafe Dupri, which he opened back in 2005, closed suddenly. Back then it, workers complained that their checks kept bouncing and that they had not been paid in weeks.

The home is located on a private lot and has five bedrooms, five baths, three fireplaces, a stone tile pool and hot tub. It also contains a number of bars: three to be exact.

Dupri has produced numerous hit records and makes his own music. Some of his production credits include working with the likes of Usher, Lil’ Bow Wow and Mariah Carey. He is widely credited for playing a large part in the revitalization of Mariah Carey’s career.

Source: AJC.com; Zillow.com

One Response to “Music Producer, Jermaine Dupri Avoids Foreclosure”

  1. Pamila April 22, 2012 at 10:57 am #

    I truly enjoy looking through on this site, it has great content . “He who sees the truth, let him proclaim it, without asking who is for it or who is against it.” by Henry George.

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