Rap Basement

Dame Dash

Dame Dash Faces Foreclosure On Two NYC Homes

Posted By on August 20, 2008

    The economy seems to be effecting everyone, including millionaire rap moguls. Damon Dash is in danger of losing two of Manhattan homes due to unpaid mortgage debts that total $7.3 million. The Associated Press is reporting that a lawsuit was filed against Dash saying he didn't pay the monthly payments of $78,500 in January and August for their luxury Tribeca condos. The New York Daily News says that the Roc-A-Fella co-founder will also owe over $10,000 in late fees. “Damon Dash and Rachel Roy have failed to comply with the terms and provisions of the said mortgage,” the lawsuit read. The lawsuit went on to say that Dame Dash has a history of not paying his bills citiing ordered judgements where Dame Dash was forced to fork over over $2 million in taxes.

    In related news, Dame Dash rcently signed a deal with Jones Apparel Group for a clothing line with his wife Rachel Roy. Dash spoke about the deal saying "The company is a $4 billion dollar company–I guess we have the potential to make that kind of money. I just never been with a company that big," he said.