Dash's Homes Facing Foreclosure
Hip-hop mogul Damon Dash is facing foreclosure on his luxury New York homes.
Eastern Savings Bank has filed a suit against the Roc-A-Fella Records co-founder, accusing him of falling behind on payments on his two TriBeCa properties.
Dash reportedly took out a $7.3 million (GBP3.65 million) mortgage on the two homes, but the bank has now filed a foreclosure action against the star - charging him with failing to deliver the $78,500 (GBP39,250)-a-month payments since January (08), according to New York gossip column PageSix.
It is not the first time Dash has faced a financial crisis - last year (07) he was accused of owing the New York tax department $2 million (GBP1 million) in back charges.