Common

Hip-Hop Rumors: Is Common Having Money Issues?

It seems like every other day there is a rapper having a trouble with either their taxes or a foreclosure. Well, we hear that Common has joined the long list of artists having money issues and is facing a foreclosure of his Chicago apartment.

According to TMZ, Common has stopped paying the $2,285 monthly mortgage payments and the bank is none too happy with him. Bank of America is claiming that Common hasn’t paid his mortgage since March 2012, and they have filed for a foreclosure so that they can sell the apartment and recoup their loses.

Let’s hope that Common has just overlooked the expense and will pay off what is due soon. The bank wants to recoup the amount of the mortgage, plus interest and penalties, which total $345,389. Handle your business, Common.

  • therealest1

    Common, of all people? I hope this is only a mistake, he seems to have his priorities straight. Who knows though?

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  • Nemesis_Enforcer

    Nah that doesn’t sound right. $2,200 is nothing. Com can go do shows at House of Blues and pay this off. It seems like there is something else going on.

    • im sure that payment isnt the only bill he has to pay per month … you gotta look @ the whole picture … 2200 on an apartment is a waist … as you can see that money piling up …. @least he wasnt renting …. he prob needs to get this off his portolio …… he can by 300k single family home and pay less than 2200 per month ……

      • brotha_man

        look around every body is having money issues. Just because you gotta lil bit of paper does not mean wall street is going to ignore you and the bad investments he/she makes.

  • lamaratkins

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    I FINALLY GOT MYSELF A DREAM CAR – A BLACK CA MA ROOOO. I WAS IN REAL DEEP SHEEET FOR MANY YEARS – COUDN’T GET ANYTHING – BUT ALL MY ISHHHHH IS CLEAN AND ALL THOSE CRE DIT PROBLEMS ARE DONE WITH FO GOOD!

    THEY GOT MY HOMEBOY CLEAN TOO AND HE WAS STRUGGLIN A LOT WORSE THAN ME. HE IS GETTIN A CONDO THIS MONTH AND COUDN’T BE HAPIER!

    HIT EM UP – THEY WILL HELP YOU OUT!

  • Eric Cartman

    C’mon common ,n

  • johnblacksad

    lost mail sh!t… it ain’t nothin

  • 2twelve

    drake just brought an 8 million dollar house off one album n just recently made 42 mill of the 2nd album beating jay z kanye paul mcartney n then pusha T comes out no wea saying drake getting rob by wayne n baby yet he living n a house that cause more then wat he made hes whoal career i mean really whose really winning hea folks just face it u may not like hes music but he nice on the mic n he chasing paper but im really surprise common out of all those people wud be in this situation

    • Negro Peligro

      The tour mad 42 million I don’t think that’s take home.

    • Adrian Barron

      i think you wanna phuck DRAKE cuz you always running to that niggahs aid … this article aint even about none of them lames you mentioned up top anyway

    • Drake’s Club Paradise tour earned a reported $42.6 million, almost double what Jay-Z and Kanye West earned on their The Throne tour. But don’t feel bad for Yeezy and Jay-Z, Drake had to work three times as hard for that money.
      According to PollStarPro, “The Throne” has made $27.1
      million so far this year off of touring and have tore down 22 shows with
      an average ticket price of $82.44. Drake has had 63 shows with an
      average ticket price of $60.75…..IF JAY AND KANYE DID 63 SHOWS THEY WOULD HAVE LEFT DRAKE IN THE DUST,AND DRAKE DIDNT TAKE HOME 42 MILL THATS WHAT THE TOUR EARNED NOT WHAT DRAKE MADE,,COME ON MAN DRAKE IS NOT ON JAY Z OR KANYE LEVEL..

      • Apollo Showtime

        Yeah Drakes TOUR made that, now pay off the venue, label, musicians, guests, lighting, sound, tour bus etc etc and Drake probably made half that money personally.

      • add in taxes and he took home maybe 20% of that 42mill … which still def aint bad … but yeah folks need to learn the difference between GROSS income and NET income !!!!!! theres a major difference …. most folks brag about thier GROSS cause it just sounds better … but NET is what they really get to see and touch … Puff cant touch 500 mill in cash … but if he sold off all of his assetts …. then maybe he could … but until then its just worth and gross … not what he actually has ON TOP of everything else he has ……. but def not knocking none of these dudes cause they still @ the end of the day walking away with Ms in they pockets …… that all i need and i dont have lol 😉

      • and this is prime example why journalist should take more integrity in providing accurate info and displaying accurate article titles … cause then you got people like 2twelve broadcasting the bogus info like its credible … only to end up looking just as stupid as the person who started the bad info …. smh :(

    • Dennis Holland

      Get off Drake di*k his tour made more money then the Thorne cause of he did twice as many shows then the Thorne and Drake tour with j cole, Waka flaka, and meek mill 2twelve your a faggot Drake scared to get knocked out by a R&B singer but Drake can talk sh*t in the club when he got his bodyguards

    • Paris Ellison

      and drake tried to pile on every hot name he could and still did not sell out every show. please do not compare him to kanye or jay who do not need 18 other people on the bill to sell. lmao

      also, let’s see drake touring at 35 or 40 and see what arenas he’s selling out.

      Common is a millionaire. let’s not get it twisted. he’s got that movie money. this was just a business deal that hit a snag.

  • $350K for an apartment? = Fail

    • 1SOFLO1

      350k for an apartment is a Fail, WTF are you talking about.

      • $50K Multi Unit = $1k a Month residual income X 7 = $350K / $7K Monthly residual

        If it doesn’t make dollars, it doesn’t make sense.

        Income > OutFlow

        If your Upkeep exceeds your income, that equals your downfall.
        ( Economic Laws )

        Rappers go broke daily, time to think about future.

    • thisnigga

      yea u’ve never been anywhere

      • depending on location and current worth this could be a major fail … but life is a lesson …. 😉

      • Definite fail

  • Negro Peligro

    2,200 my rent is more than commons.

    • Heretic380

      Common aint payin rent… That’s a mortgage, there’s a difference.

      • Renting is like eating with a hole in your back, you never get full.
        Buying a single unit is like sucking your own…….buying a multi unit is like someone sucking it for you.

  • WillVetterGoodin

    damn……straight bullsh*t. Can he borrow a dollar?

  • Adrian Barron

    this prolly the apt he take all the hood chicks and the hood homies after the club close anyway…

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  • Paris Ellison

    tmz already updated their report. common sold this property & the deal is final in august.

    common’s is in the millions so you know it’s not an issue of money, it’s business. his management needs to do a better job of making sure misleading headlines don’t end up on tmz. He may need to upgrade his management…He’s in the big leagues now making real money.

  • hoeyuno

    Doesn’t common own a bunch of project buildings? He could always move back to the southside ha ha….

  • 2200 is nothing and might be an apartment he signed for a family member and the bank using him publicity to collect

    • lol @ 2200 isnt nothing … maybe as $2200 … if thats all it was but this is $2200 per month …. every month that goes by thats +$2200 …. if it aint no money how many out there can afford to pay just $2200 per month on an apartment … will you be able to afford to eat ???? to go out on weekends ???? to @least vacation 1 time per year ???? will you be able to afford to have kids ????? shoot can you afford to have a mate ?????? can you buy good birthday and christmas gifts ???? can you afford to have any car you want ?????? can you gas that car ????? ect ……. #realwordl 😉

    • brotha_man

      $2200 is a lot for a renting an apartment. 26,400 per year that is a lot for rent. This is whats wrong with urban America, but I blame the teachers for not giving most full understanding of the value of a dollar.

      • Slaughtr

        Dead right!

  • Lamarr Lewis

    common your a bitch jealos of a young kid drake who made better music then you did

    • ok, let me get this straight. drake is one person and watch the throne made less with two people. plus it was an international event….more travel and expenses….and by the way, they paid taxes too. you dick ridahs! is so lame when it comes to jigga knowles. WATCH THE THRONE!!!! HA HA , I MADE MORE THAN YOU AND YOU COULDNT SIGN ME….. TELL ME HOW MY ASS TASTE!!!!!!!

  • Bumpy Johnson

    2200 in chicago thats not even a big apt…so do not think he is broke….forget the music this man acts too….unless he spends 60k a month he cant be broke

    • if your not carefull that money goes fast when your a traveling artist …. for every level of finacial state there are things to do and things to buy that will break even a billionare in less than a year … if your not carefull …..

    • brotha_man

      but bad investments can make your salary dwindle in a hurry. why do you think most pro athletes go broke? Bad investments

  • black_messiah9000

    As soon as I see anything is written by Sydney Lace I immediately leave the page. I don’t even bother reading the column.

  • Ed Mack

    from march to july 2200 turns into over 300k. gtfohwtbs