He Couldn’t afford his $400k home? Owed the IRS 6 million? So was he lying when he said he let his cash invest in stock?
Life's a bytch ... Nas sang it and now he's living it ... because besides being knee deep in tax debt, TMZ has learned the rapper just lost his Georgia crib to foreclosure.
According to official records, Nas purchased the 2-bedroom, 3-bath pad back in 2004 for $585,000 ... but according to SunTrust bank (which issued him the loan) ... Nas couldn't foot the bill and defaulted on the payments, still owing $507,000.
SunTrust recently foreclosed on the property and then sold it to the highest bidder at public auction last month for $348,500 ... WAY LESS than the rapper paid eight years ago.
It's a steal for the new owner -- the house is over 3,500 square feet with a walk-in pool and hot tub ... granite counter-tops ... custom theater ... gym and game room.
Calls to Nas' rep have not been returned.
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(AllHipHop News) Nas’ financial battle with the Internal Revenue Service continues, over a $6 million delinquent tax bill. According to TMZ.com, the IRS recently filed court documents seeking to garnish Nas’ earnings from his publishing companies. The government is garnishing wages Nas earns through ASCAP and BMI, the two largest performing right Society organizations in
Nas' Home Foreclosed: Rapper Loses Georgia Home Due To Financial Troubles
Nas Says 'Bye Baby' To Georgia Home
Oct 15, 2012, 03:59 PM EDTUpdated Oct 22, 2012, 12:26 PM EDT
Life's a bytch ... Nas sang it and now he's living it ... because besides being knee deep in tax debt, TMZ has learned the rapper just lost his Georgia crib to foreclosure.
According to official records, Nas purchased the 2-bedroom, 3-bath pad back in 2004 for $585,000 ... but according to SunTrust bank (which issued him the loan) ... Nas couldn't foot the bill and defaulted on the payments, still owing $507,000.
SunTrust recently foreclosed on the property and then sold it to the highest bidder at public auction last month for $348,500 ... WAY LESS than the rapper paid eight years ago.
It's a steal for the new owner -- the house is over 3,500 square feet with a walk-in pool and hot tub ... granite counter-tops ... custom theater ... gym and game room.
Calls to Nas' rep have not been returned.
IRS Seeks To Garnish Nas’ Publishing Income
Grouchy Greg Watkins (@GrouchyGreg)March 25, 2012
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