The housing market slump claims yet another hip-hop mogul.
Roc-A-Fella Records co-founder Damon Dash and his wife Rachel Roy are reportedly in jeopardy of losing two of their Manhattan apartments after failing to pay their pricey mortgages.
The Associated Press reports that Dash and his wife owe $7.3 million on the two properties, according to court filings, and foreclosure proceedings have begun.
Eastern Savings Bank, who holds the mortgages, says the couple’s monthly mortgage payments are $78,500, which they apparently have been making.
Court papers were filed on Monday (August 18), reports the AP.