theJasmineBRAND.com exclusively reports, Trick Daddy has been ordered to vacate his Florida home, in the legal battle accusing him of not paying his mortgage for years and now the judge has hit the rapper with a 380k judgement and has given the green light for his home to be sold off at public auction next month.
The rapper filed for bankruptcy on September 18th saying he had $430,420 in assets but a total of $644,613 in liabilities.
Trick Daddy listed his assets as his Miramar, FL home, ZERO dollars in his bank accounts, $2,500 in household goods, $150 in wearing apparel, $400 in jewelry and 10k stock in his music publishing company Trick-N-Rick.
However, his liabilities include 280k on his first mortgage, $1,200 in home maintenance, $34,837 in back child support to one mother, another $22,282 in more late child support, 290k to the IRS in back taxes, $1,308 to DirecTV, over 3k in credit card debt, $500+ to a collection agency for an AT&T bill and various other unpaid debt.
The bankruptcy was a tad confusing given the fact that Trick Daddy had assets that were close to the amount he owed in liabilities. However, it appears that the rapper may have filed for Chapter 13 bankruptcy to avoid being put out on the streets by the bank who owned his home.
According to court records in Florida, the rapper was slapped with a foreclosure lawsuit by Deutsche Bank National Trust Company on September 10th — only 8 days before he filed for bankruptcy
The bank explained that Trick Daddy took out a mortgage with them back in 2002. However, he is accused of not making payments on the loan since January 2014. The bank demanded he pay the total amount due of $169,621.56 and he be ordered to vacate the property
Due to the rapper filing for bankruptcy, any lawsuits that were pending against him were stayed aka put on pause until the outcome of his Chapter 11, which can take several months to years. The bankruptcy stay allowed him to have a roof over his head in the meantime.
Then back in December, the bankruptcy trustee demanded the case be dismissed and the rapper’s debt not be wiped clean by the court. He explained that the proposed re-payment plan doesn’t meet the requirements of the court. The bankruptcy was dismissed days later by the federal court judge.
The following month, JP Morgan Chase headed back to court in Florida demanding the judge grant their motion for summary judgement and allow them to proceed with their case and foreclosure on Trick Daddy’s home.
They explained that the rapper failed to have any debt cleared in his Chapter 13 and they now want to continue on with the proceedings, so they can evict him and sell off the property to pay off the debt Trick owes them.
Then on March 10th, the judge came back with his decision in the case and ordered Trick Daddy’s home to be foreclosed on and sold off at public auction.
The order states the rapper owes 280k+ on the unpaid principal balance, $5k in interest, nearly 50k in escrow advances and various other fees for a grand total of $387,941.58.
The judge scheduled the home to be sold at public auction on April 14th, unless Trick Daddy coughs up the entire 387k+ debt which seems unlikely due to the rapper never showing up to court in the case.