EXCLUSIVE: Sean Combs aka Diddy – Loses New York Home Co-Owned with Baby Mama to Foreclosure, Sold Off at Public Auction
Nik, here is confirmation Sean Combs aka Diddy has lost a New York home he co-owned with his baby mama Misa to foreclosure — and the home was sold off to the highest bidder last month at the price of $972k.
Back in 2013, CitiBank filed suit against Diddy and his baby mama Misa Hooten accusing them of defaulting on a 712k loan for a New York home. The complaint explained that Diddy co-signed the loan documents with his baby mama but they stopped making payments on the home back in July 2010. The bank sued demanding the total amount owed on the loan to the tune of $622,518.34. They also sought to have the house foreclosed on and sold off at public auction.
Diddy attempted to argue that he was not responsible for the default due to the fact that his baby mama had agreed that she would be responsible for the monthly payments. The music mogul said he only co-signed to help her get the loan approved. He demanded he be dismissed completely from the legal battle.
Citibank fired back at Diddy’s claim he is not responsible for the $622k owed on the loan. The bank said that while the rapper may claim he had a separate agreement with his baby mama … he didn’t provide any documentation or proof of such an agreement and pointed out that his name was on all the loan docs. They demanded that the rapper and his baby mama be hit with a $622k judgement in the case!
The judge ordered Diddy and his baby mama to cough up the $622k owed on the home and for the property to be foreclosed on and sold at public auction. Then on December 8th, docs were filed in the lawsuit explaining Diddy and Misa’s New York home has been sold off to the highest bidder. A public auction was held on December 2nd and Diddy’s home he co-owned was sold off for $973,426.15 leaving a surplus of funds after the $622k debt was owed.
Citibank crushed it on this deal.- nik