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Jermaine Dupri Avoids Foreclosure On Atlanta Mansion
By: hiphopdx.comPosted On: 05/10/2011 12:33 P
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The So So Def honcho is still in trouble with Uncle Sam for hundreds of thousands of dollars in unpaid taxes.
The So So Def honcho is still in trouble with Uncle Sam for hundreds of thousands of dollars in unpaid taxes.
Jermaine Dupri is catching a break. The So So Def founder’s Atlanta mansion was in foreclosure and slated to be auctioned off on the courthouse steps in the city’s northwest area last week, but he managed have the sale canceled in the nick of time.
The 15,000 square foot home, located on Mount Paran Road in Georgia, was being managed by Design Logistics, who claims he still owes $12,000 for renovating and designing the abode. But his money troubles extend further, with Dupri owing more than $2.5 million on an original loan for the home made by Suntrust Bank. Additionally, he owes $493,768.75 in back taxes for income earned during 2007.
For the home in particular, Dupri is in the hole for $14,024.67 in unpaid property taxes, as well as penalties and fees in connection with another one of his houses.
Dupri, who has helmed hits for Mariah Carey, Jay-Z and more, launched the hip-hop label TAG Records in 2008 under Island Def Jam Music Group, only to be ousted from the imprint less than a year later.
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