One of the properties belonging to Jim Jones was reportedly lost in foreclosure and flipped for $100 in an auction, bringing in another development to the rapper's rocky history with the home.
Back in 2017, the U.S. National Bank Association sued the Dipset member after he failed to make mortgage payments for a total of seven years, owing $1.2 million on a home originally valued at $680,000. It was in 2006 the Capo took out a mortgage for this amount with a 6.857% interest rate. Agreeing to monthly payments of $4,467, Jones allegedly stopped paying in 2010.
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When he was sued, the rapper reportedly reach a settlement deal with the bank last year. However, when he failed to meet these terms, the account was placed back into default and was sold back to the bank in a Sheriff's Sale for $100
The home itself is now valued at $742,000 but interest, real estate taxes, and homeowners insurance is what has brought Jim Jones to the grand total of $1.2 million.
The revelation arrives just days after Jim Jones' name was brought into the mix of Tekashi 6ix9ine's testimony in the trial of Anthony "Harv" Ellison and Aljermiah "Nuke" Mack. 6ix9ine named Jones as an alleged member of the Nine Trey Bloods while audio of Jones talking to other members of the gang about Tekashi was played back in court.
