First Memphis Bleek announced that he has filed bankruptcy and now we just got word that Memphis Bleek Home In Foreclosure!!!
Flip and get more details on what is happening with rapper Memphis Bleek…
CelebNMusic247.com reported earlier this week that the “Is That Your Chick” MC lodged bankruptcy papers in U.S. Federal Court in New Jersey in March.
Malik Cox, best known as Memphis Bleek allegedly stated his assets total $274,200 , but his liabilities stand at $385k. The 38-year-old owes $335k on his Keyport home, but it is only worth $250k.
Now, Bossip.com is reporting that Bleek is now facing foreclosure, with the home scheduled to be auctioned at a sheriff’s sale at a starting price of $308,200 in September (16).
Cox is said to have bought the home in 2003 for $300k and was issued a $274k mortgage. Officials at the bank have reportedly postponed the foreclosure proceedings while Cox works out a repayment plan for his debts, but the sale will continue if the repayment plan is dismissed.
Foreclosure proceedings on the home were started in 2013 and Bank of America bosses filed an objection to Cox’s proposed payment plan earlier this year (16). A judge has yet to rule on Cox’s repayment plan.
Cox hasn’t commented on the reports, but on Wednesday, he re-posted a message on Twitter from fellow rapper N.O.R.E., suggesting his money woes aren’t as bad as the media has made out.
The tweet read:
“Just got off the phone wit my brother @memphisbleek all we do is laugh and talk money and new moves!!!”
Memphis Bleek has experienced financial issues in the past – in 2007, he was reportedly hit with a federal tax lien for $37,750, but it was subsequently settled.
Bleek is doing what needs to be done when your home is in foreclosure. You file bankruptcy to block the foreclosure and to save the home.
We wish Memphis the best of luck to keep his home.
