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Common's Chicago Home Snapped Up By Bank?!

| Filed under: Music MinuteLegal MattersFor Reals Estate

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Mortgage payments… but that's just TOO common for supreme musicians like Common!

The soulful, thoughtful artist was apparently in danger of having his Chicago apartment foreclosed upon by Bank of America, because he allegedly hadn't paid the $2,285 monthly mortgage since March!

BoA was supposedly oiling the cogs to set the foreclosure in motion…

BUT, no worries, ’cause Common and his manager Derek Dudley had plans to sell the property to someone else, and worked out an amicable arrangement with the bank!

PHEW!

Common's rep reveals:

"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."

Well thank the realty gods!

If Common hadn't rested BoA's quivering, money-hungry paw, he would have owed $345,389!!

That's one hefty chunk o' change!

[Image via WENN.]

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