Wall Street Journal: Hip-Hop Artists Drop Defaults x Foreclosure Knowledge

 “Wouldn’t it be nice if the banks didn’t f— up the loans / And people ain’t have to move out they homes? … That’s the world I’m talkin’ about is where we would like to be / Worried about debts, recessions and foreclosure…”–Bun B

The Wall Street Journal featured an article detailing several rappers who have homes that came close or have gone into foreclosure ever since the economy has been in a decline. The jump off point is R. Kelly, who has been in the news recently for failing to make mortgage payments on his Chicago mansion.

The author implies that Lil Scrappy, Xzibit, Nelly, Chamillionaire plus several others may have had the money to keep their homes out of foreclosure, but chose instead not to pay in order to force the banks to negotiate a loan modification.

The entire article can be read here.

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