Jim Jones & Chrissy Lampkin Lose Mansion In Foreclosure, Sold For $100 In Auction
Bad news for Jim Jones and Chrissy Lampkin. While they live a fabulous lifestyle, they reportedly haven’t paid the mortgage on their New Jersey mansion since 2010. According to Bossip, the home has been sold for $100 in an auction after foreclosure.
The couple was initially sued back in 2017 by the U.S. National Bank Association. Jones purchased the house in 2006, taking out a $680,000 mortgage with a 6.875% interest rate. He was set to make payments of $4,467 each month. But he’s failed to pay for almost an entire decade. Based on his mortgage agreement, he would be responsible for paying the entire amount if the loan went into default.
While they agreed to pay down the debt and help the home avoid foreclosure last year, they didn’t keep up their end of the deal, and the home went into foreclosure.
They owe a total of $1,240,017, including interest and other related fees like real estate taxes, advances and homeowners insurance.
Now, the five-bedroom, three-bathroom mansion is worth $742,000.
Their foreclosure issue could become a major part of their storyline as reports have alleged that the couple is returning to Love & Hip Hop: New York. They starred in the VH1 show’s first season before landing their own spinoff, which ended in 2014.
They also had a stint on WeTV’s “Marriage Boot Camp.”
What are your thoughts on Jim Jones and Chrissy Lampkin’s foreclosure? Tell us in the comments.