(AllHipHop News) Ten years ago Houston’s Slim Thug was featured on a #1 single with Beyoncé, and his own album Already Platinum was certified gold. In present day, Thug is in the process of fixing his credit rating. The “I Ain’t Heard of That” performer explained how his financial difficulties partially began in an article for the New York Times.
[ALSO READ: Lil Keke Hosts “Money Don’t Sleep” Listening Event With Bun B, Kirko Bangz, Slim Thug, & More (PHOTOS)]
A few years ago, Thug decided to put his five-bedroom house on the market in order to purchase another home. He planned to take advantage of the short-sale assistance program offered by the Obama Administration.
Thug connected with a real estate agent and from there the situation flipped into something unintended. His relationship with his agent went from business to pleasure.
“The result was hurt feelings, mixed emotions and resentment, and once feelings are involved, business takes a back seat,” said Thug. “After the end of our personal relationship, the deadline expired for taking advantage of the short-sale program. I ended up in foreclosure. So not only did I lose out on money from a potential sale, but I ruined my credit as well.”
The rapper went on to add he suspects he lost around $200,000 directly and indirectly as a result of the failed relationship.
“This is one of the many mistakes that led me to talking more about money as part of my work,” Thug stated. “It’s 2015, and my credit still isn’t the same. Neither is my net worth, but the lesson I learned is certainly priceless.”