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Chamillionaire Claims Foreclosure Was A Business Decision

Filed under: Z List



Chamillionaire had his Houston mansion repossessed by the bank after it went into foreclosure, but the rapper claims it was a calculated business decision.

He bought the 7,583 sq. foot home in 2006 for $2 million, but failed to make several payments.

The rapper said that he "decided to let that house go" because the real estate market had turned, leaving the house as a bad investment. Chamillionare also noted that he was never at the home.

"I was always on the road touring," he said. "I just didn't feel like it was a good business investment to pay that much mortgage for a house I was never at. I still got all the cars."

It could just be us, but wouldn't it have been a better business decision to sell and not eff up your credit for all eternity?!

[Image via WENN.]

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