While Jim Jones built a music brand by “Ballin,” he and long-time love Chrissy Lampkin seem to be having some financial difficulties that they can’t break free from. The bank just foreclosed on their mansion and gave up their not-so-humble abode for a WHOPPING $100.
The trouble began back in 2017 when the bank filed foreclosure proceedings on the couple, claiming they hadn’t paid their mortgage since 2010. So, basically, they were living for free in the place. It apparently took the bank 7 years to pull the trigger.
They originally worked out a deal with the bank last year that would have allowed them to keep the home and make payments to eventually get out of debt. However, that deal apparently fell apart. The bank filed a lawsuit to take possession of the home. It was later sold at auction for a Benjamin Franklin.
The pair took out a mortgage on the home for $680,000 way back in 2006 with a monthly payment of $4,467. They now owe the bank $1,240,017, though the house is currently only valued at around $740k.
The New Jersey home is now officially out of the hands of Jones.