Here are a couple more examples that again demonstrate you can get into financial trouble no matter how much money you earn. Yep, even high-income earners can spend it all -- and more! We'll start with details on an ex-Fugee:
Proving that foreclosures spare no one, a Miami Beach property owned by hip-hopper Wyclef Jean is about to be auctioned on the proverbial courthouse steps, according to court records.
The property stayed nearly abandoned for two years as it racked up $6,200 in fines from the city of Miami Beach.
Then the $900,000 construction on a property appraised at $1.4 million stopped when Jean and his partners couldn’t come up with $177,913 to finish.
And then there's an American Idol Winner:
"American Idol" winner Fantasia Barrino is again finding that, like the title of her autobiography, life is not a fairy tale.
Court documents obtained Tuesday show one of Barrino's houses in Charlotte is up for auction after a company said Barrino failed to repay money it loaned her to cover her taxes in 2006.
The Mecklenburg County Sheriff's Office is scheduled to sell the home, valued at $1.1 million, in January. The home isn't in foreclosure, but rather is being used to compensate the company that loaned Barrino money to cover taxes.
Add these two to my ever-growing list of famous/high-income people who are facing financial troubles.
... incredible. He couldn't come up with the money to finish his million dollar home? That's just... incredible. :P
Posted by: Shaun Connell | December 11, 2008 at 12:04 PM