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Scott Storch To Lose $10 Million Dollar Home
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Thursday, 24 July 2008 |
| Written by Jason
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As we previously repoted, platinum producer Scott Storch is having major money problems. Now it looks like he might even lose his $10 million dollar Miami home as SunTrust Bank is closing in on foreclosure. The Palm Beach Post is reporting that Scott Storch signed two mortgages with the bank for $7.75 million but has since missed most of his payments since the start of the year, although there were reports that he borrowed $170,000 from friends to keep the home.
Also a problem for Storch is $11,215 of an electrical electrical lien plus a $17,151 bill for his personalized camera network he had installed. Scott Storch had an arrest warrant sent out in late June and he hasn't been since since. Storch's lawyer previously said “There was some mismanagement and some other errors” continuing “I don’t think he’s going down, I just think he’s having difficulty. It’s a cash flow problem.”
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