Jermaine Dupri Loses Atlanta Mansion In Foreclosure Auction
It's been a constant back and forth between the So So Def founder and the bank that owns the home. Apparently, Dupri has kept it from being sold twice, back in 2012 and 2013, due to a discrepancy on what was actually owed -- so the judge said for the parties to continue negotiating.
But talks were unsuccessful because the mansion was put up for sale once again, after the Atlanta mogul failed to make additional payments. At that point, the bank claimed he owed $400,000, while Dupri said it was merely $111,000, which postponed the selling of the home once again.
However, he negotiated a deal where he would pay one lump sum, then continue to make monthly payments, which he did for more than a year but something went wrong because the mansion was put up for sale again back in November.
"The debt secured by said deed to secure debt has been and is hereby declared due because of, among other possible events of default, non-payment of the monthly installments on said loan," read the notice of sale. "The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale."
Dupri has lived in the Atlanta mansion since 2005.