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Bank Forecloses On Eazy-E's Infamous Party Mansion After His Wife Falls Behind On Payments (1492 hits)

When West Coast rapper Eazy-E passed away in 1995, he left behind a 6,700 square-foot mansion. Famous for it's all-night parties filled with plenty of females, the home was the ultimate party palace. The crib had 5 bedrooms, 6 bathrooms, a black room with fluorescent pillows and a neon sign that read "Eazy's Playhouse."

Unfortunately the home, which was inherited by Eazy's wife, Tomika Wright, was foreclosed on according to recently released documents obtained by TMZ.

Tomika, who also took ownership of her late husband's Ruthless Records, had been making the mortgage payments, but fell behind in 2011 to the tune of $168,278.78 and was never able to catch up.

The home was sold at a foreclosure auction for $2.2 million.

Posted By: DAVID JOHNSON
Monday, October 1st 2012 at 9:08PM
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those of you that think that celebs should pay their homes off don't fully understand the tax code to individuals at that level. it's not in their best interest to pay off homes because they need the interest write offs. The only time it makes sense is when you're generating revenue in the hundreds of millions. then the real property falls into a portfolio with other real property items that can be placed in a trust over seen by a trustee. this is how generational wealth is established because the law can't tell the trust how the property can be transferred. it's established from day one so death and divorces don't cause problems for anything in the trust. Most singers and actors rent homes like this because while they are making a lot of money in the short term, they can't predict if they will be hot in 10 years and rentals and leases can offer 100% write offs under the correct statutes. Easy didn't have the funds available at the time of his death to pay off the mortgage on this home or if he did have the funds, the mortgage may have taken all of the funds and placed him in a financial bind so it may have been better at the time to continue paying monthly for the home instead of paying it off. For those of you that believe that owning a home outright is the be all, end all solution......I would recommend that you study more because it's not. It's simply a tax shelter for most and a perpetual money pit as they age.
Monday, October 1st 2012 at 9:10PM
DAVID JOHNSON

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