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Hakim Seriki, professionally known as Chamillionaire, recently had his Houston mansion repossessed by the bank. According to a video interview obtained by TMZ.com, Chamillionare decided to let the 7,583 sq ft property go due to its lack of value. The rapper commented that he paid close to $2million for the real estate and after the collapse of the market; the property is “worth nothing”. He also went on to comment that he has “multiple mortgages” and “all the cars”. The property, according to the artist, is not a place that he ever truly took up residence due to his hefty touring schedule; therefore he found that “it was not a good business investment to pay that much mortgage for a house I was never at.”
Seriki, who was more than pleasant to the field agent, repeatedly made it clear that he was in no way in financial turmoil. He closed the impromptu interview with the simple statement, “I’m still Chamillionaire, when I become Chathousandaire, I will let you know,” and a reference to him leaving for Kosovo next week.
Although I could not find any impending concert dates, etc., I am sure that the musician has a full, paying schedule ahead of him. Also, please note that some of the additional mortgages are held in names other than his.
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