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TRINA'S HOME FACING FORECLOSURE
Yes, the house featured on 'Cribs'.
*The Florida home of raunchy
rapper Trina, which she proudly
showed off on an episode of MTV's
"Cribs," is currently in danger of foreclosing,
according to court documents
obtained by SOHH.com.
Florida's JP Morgan Chase Bank
has reportedly begun the process in
Broward County's 17th County Circuit
Court for more than three consecutive
missed payments on the home, which
is nestled in the Pembroke Isles gated
community.
Trina (real name Katrina Taylor)
bought the pad for $157,500 in October
1999, about a year before the release
of her first solo album, "The Baddest
B***h," reports SOHH.com. The value
of the house is now reportedly
worth $300,000.
According to a real estate
expert quoted by the Web site,
Trina, a former realtor, is still
able to hang on to her home
under Florida's "right
of redemption" laws.
"The right of redemption
allows the borrower to prevent
foreclosure by paying the entire
balance due to the lender," Tracy
Davis-Puchi, Esq told SOHH.com.
"However, this right ends once the
property is sold at a foreclosure. In
the early stages, if she can make
arrangements with the plantiff's
attorney and the bank, she could
pay up the arrearage and the attorney's
fees and the bank would drop the
foreclosure suit."
Another option, Davis-Puchi
told the Web site, is for Trina to
sell the house before the foreclosure
suit is finished.
"If she could sell the house
for $250,000, she might get a buyer
who would close before the house
was sold on the courthouse steps,"
she said. "This would pay back the
mortgage and the attorney's fees
and leave her with some money."
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