Rapper Common facing foreclosure on Chicago apartment
Rapper Common is facing foreclosure on his Chicago apartment after allegedly falling behind with his mortgage payments since March.
According to reports, hip-hop star Common — whose real name is Lonnie Lynn — co-owns a Chicago apartment with his manager, Derek Dudley, which they got in 2008. However, the honchos from the Bank of America claim that the two have failed to make any mortgage payments on their property since March. As such, the bank chiefs have already filed foreclosure documents in a bid to recover their money.
Media outlet TMZ reported that the bosses from the Bank of America are demanding the full total of the mortgage, plus interest and penalties — which is worth more than $345,389.
According to the rep of Common, the two sides have reached an agreement already, explaining, “The Chicago property is not being foreclosed on. They have reached an agreement to sell the property to an individual with a closing date set for early August. Bank of America is aware of this fact.”
Rapper Common, who spends most of his time in Los Angeles, is said to have been increasingly successful in his transition from singing to acting.
The 40-year-old hip-hop star has appeared in a number of high profile films, which include “Just Wright” and “New Year’s Eve.” The latest film of Common, “The Odd Life of Timothy Green” will be out later this year, and he still has two other films in post-production.
Although he is single as of the time being, Common has been in relationships with tennis star Serena Williams and singer Erykah Badu.