Comedian Chris Tucker Facing Foreclosure on Multi-Million Waterfront Central Florida Home, Owes SunTrust Bank $4.4 Million

Comedian and actor Chris Tucker may not be laughing right now. Tucker, who played the wise-cracking Los Angeles police detective alongside Jackie Chan in the "Rush Hour" film series, could lose his multi-million dollar central Florida mansion to foreclosure. According to the Orlando Sentinel, foreclosure papers on the 10,000 square foot waterfront home on Lake Apopka in the Bella Collina community, were filed by SunTrust Bank in Lake County Circuit Court, saying he owed more than $4.4 million.


Read more: http://www.orlandosentinel.com/news/local/lake/os-chris-tucker-foreclosure-20111011,0,7250507.story

Actor Stephen Baldwin Files for Chapter 11 Bankruptcy in New York Court

We are living in some tough economic times and we are all feeling the pinch, but I find actor Stephen Baldwin's plight rather interesting. He has filed for bankruptcy on Tuesday in a New York court.

The 43-year-old actor filed for Chapter 11 protection claiming he owes more than $2.3 million and owns a New York property valued at only $1.1 million. His wife, Kennya Baldwin, also is named in the document.

He has had a tough time lately, as we all have had, but wasn't he the same person who said if Barack Obama became our president he would move to Canada? Psst, he Stephen, O-Man is our president and why haven't you left the country yet?

He abruptly quit "I'm a Celebrity, Get Me Out Of Here," in late June, citing extreme bug bites. Earlier in June his home faced foreclosure. Isn't this the same guy who is a born-again Christian with a ministry? What happened?

Celebrity Briefs: Stephen Baldwin's Foreclosed Home Up for Auction June 24

I recall seeing Stephen Baldwin on cable television a few months ago, after the Proposition 8 debacle, literally chastising gays and lesbians on their sexual orientation. He says that he is a born-again Christian and is living the best life he could possibly live through his ministry, Breakthrough Ministries, which disbanded in 2008 and relaunched under the name Antioch Ministries. Now, as a Christian, though I still make mistakes, keeping one's finances in proper order are paramount. I find it utterly hypocritical that Stephen Baldwin can have the nerve to tell gays and lesbians what to do, but yet he and his wife are in arrears on their mortgage to the tune of $824,000, far more than the house cost them when they bought it in 1997, at $515,000.

The foreclosed Rockland County, N.Y., home of recent The Celebrity Apprentice and I'm a Celebrity ... Get Me Out of Here! contestant, is being put up for public auction June 24. The couple reportedly tried unsuccessfully to sell the property three years ago.

In addition, according to Gannett News, unpaid state and federal taxes on the property may add up to the tens of thousands. They must have shirked their responsibility and not bothered to pay mortgage holder Bankers Trust Co. for years. You see, this is what happens to rich folks when they live way beyond their means, even working class people are not immune for such pitfalls, but for a seemingly wealthy conservative Christian, that's certainly not the behavior I would expect, especially since he routinely witnesses to sinners about God's grace and goodness in his life. I am not here to cast a stone because we all have problems, but it seems really hypocritical that he could just walk about from paying for his house. At least it seems that way to me.

Nicholas Cosmo Arrested, Charged with Mail Fraud as Feds Invesitgate Another Possible Ponzi Scheme on Long Island

Photo: Entrepreneur Magazine, Nicholas Cosmo

More drama. Another Ponzi scheme in coming to light. Nicholas Cosmo, president and CEO of Agape World Inc., in Hauppauge, Long Island, has been accused of bilking investors through a scheme that has been running for quite a long time. The scumbag surrendered to authorities tonight and has been charged with mail fraud. Hah. Another one bites the dust! Angry investors descended on the office earlier on Monday demanding information on their accounts, which are most likely nonexistent now. Cosmo was able to attract $400 million in investments from unsuspecting investors, maybe a few greedy ones as well.

According to 1010 Wins, on Friday, Cosmo told more than 150 investors that all payouts are suspended because real-estate deals the firm backed are facing foreclosure. Suffolk County police were called to the building after the investors refused to leave the offices. Agape said it specializes in short-term loans to builders, paying a high interest rate to those who invest. It also seems to specialize in robbing people blind. If these allegations are true, we will see more people literally losing the shirts off their backs. I am glad they caught him before he tried to kill himself or stage his death.

1010 Wins WEB EXTRA: Letter from Cosmo to Investors

While the amount in question here pales in comparison to the $50 billion Ponzi scheme allegedly spearheaded by Bernard Madoff, the amounts are large enough to attract investigation from the big guns -- FBI, U.S. Postal Inspectors and local law enforcement. Yeah, there will be more Ponzi schemes uncovered as the financial industry declines. It seems that Mr. Cosmo is not a stranger to the correction system. He was convicted of a federal charge of felony fraud and swindle in 1999 and sentenced to 21 months in prison. According to the U.S. Bureau of Prisons, he was released in August 2000. But he backslid and committed an even bigger crime. I am all for second chances, but this scumbag needs to be behind bars for a long time.

Nicholas Cosmo Arrested, Charged with Mail Fraud as Feds Invesitgate Another Possible Ponzi Scheme on Long Island

Photo: Entrepreneur Magazine, Nicholas Cosmo

More drama. Another Ponzi scheme in coming to light. Nicholas Cosmo, president and CEO of Agape World Inc., in Hauppauge, Long Island, has been accused of bilking investors through a scheme that has been running for quite a long time. The scumbag surrendered to authorities tonight and has been charged with mail fraud. Hah. Another one bites the dust! Angry investors descended on the office earlier on Monday demanding information on their accounts, which are most likely nonexistent now. Cosmo was able to attract $400 million in investments from unsuspecting investors, maybe a few greedy ones as well.

According to 1010 Wins, on Friday, Cosmo told more than 150 investors that all payouts are suspended because real-estate deals the firm backed are facing foreclosure. Suffolk County police were called to the building after the investors refused to leave the offices. Agape said it specializes in short-term loans to builders, paying a high interest rate to those who invest. It also seems to specialize in robbing people blind. If these allegations are true, we will see more people literally losing the shirts off their backs. I am glad they caught him before he tried to kill himself or stage his death.

1010 Wins WEB EXTRA: Letter from Cosmo to Investors

While the amount in question here pales in comparison to the $50 billion Ponzi scheme allegedly spearheaded by Bernard Madoff, the amounts are large enough to attract investigation from the big guns -- FBI, U.S. Postal Inspectors and local law enforcement. Yeah, there will be more Ponzi schemes uncovered as the financial industry declines. It seems that Mr. Cosmo is not a stranger to the correction system. He was convicted of a federal charge of felony fraud and swindle in 1999 and sentenced to 21 months in prison. According to the U.S. Bureau of Prisons, he was released in August 2000. But he backslid and committed an even bigger crime. I am all for second chances, but this scumbag needs to be behind bars for a long time.

Morris Brown College Faces Foreclosure on Residence Hall, City of Atlanta Shuts off Water Services

It is a lowdown dirty shame that the same historically black college is experiencing some serious financial problems again. The problem is that 127-year old Morris Brown College has faced a previous financial indignity. Well, evidently they did not learn the first time and now the sale of one of its classroom buildings will be auctioned on the steps of Fulton County courthouse. A bank representing investors who purchased bonds issued to build Jordan Hall on the Morris Brown campus is foreclosing on the property, saying the school defaulted on a $13.1 million debt dating to 1996. The foreclosure sale is scheduled for January 6, less than a week before the school is supposed to begin its spring semester.

The school suffered another indignity as well. The city of Atlanta cut off water service to the campus last week because they are delinquent on their water bill to the tune of $380,000. The school's ability to resume classes is in serious jeopardy. Some of these water bills date to February 2004. This is a travesty and a disgrace. When have you ever heard of a school's water service being cut? The school administrators are a disgraceful lot. Of course they will need temporary loans for the school's most critical needs--faculty and staff payroll, utilities and other operating expenses.

Rhonda Copenny, a member of the Morris Brown’s board of trustees, said the school won’t know until after Christmas whether it can obtain short-term loans to keep its doors open. “Nothing could be solidified” on Monday, she said, adding that the trustees are “optimistic.” “It’s not like the school was caught off guard,” she said. “They’ve been working on the big picture a long time, and it’s coming to fruition now — we think.” The top priority at the moment is getting water service restored, Copenny said. School leaders hope to meet with city officials to work out another payment plan to erase the old bills.

It appears the foreclosure sale will take place unless Morris Brown officials can persuade investors to give them more time to pay the nearly 13-year-old debt, said Gregory Worthy, an Atlanta lawyer for U.S. Bank, which represents the investors.
“They’ve been in default on the bond issue for a good while now,” Worthy said Monday. “The original principal amount of the bonds is due and payable.” Source: Atlanta Journal Constitution.

This school is no stranger to controversy and their financial problems have been brewing for a while.The school lost its accreditation in 2002, and its former president, Dr. Delores Cross, and former financial aid director were convicted in a federal embezzlement case in 2006. They can't possibly expect prospective students to give this school a second look, Enrollment, which was once nearly 3,000, has dropped as low as 56 in recent years before bouncing back to about 240 this fall. They need to fire the president and all the members on the board of trustees. This school was built to empower African Americans, not to tear them down.

Morris Brown College Faces Foreclosure on Residence Hall, City of Atlanta Shuts off Water Services

It is a lowdown dirty shame that the same historically black college is experiencing some serious financial problems again. The problem is that 127-year old Morris Brown College has faced a previous financial indignity. Well, evidently they did not learn the first time and now the sale of one of its classroom buildings will be auctioned on the steps of Fulton County courthouse. A bank representing investors who purchased bonds issued to build Jordan Hall on the Morris Brown campus is foreclosing on the property, saying the school defaulted on a $13.1 million debt dating to 1996. The foreclosure sale is scheduled for January 6, less than a week before the school is supposed to begin its spring semester.

The school suffered another indignity as well. The city of Atlanta cut off water service to the campus last week because they are delinquent on their water bill to the tune of $380,000. The school's ability to resume classes is in serious jeopardy. Some of these water bills date to February 2004. This is a travesty and a disgrace. When have you ever heard of a school's water service being cut? The school administrators are a disgraceful lot. Of course they will need temporary loans for the school's most critical needs--faculty and staff payroll, utilities and other operating expenses.

Rhonda Copenny, a member of the Morris Brown’s board of trustees, said the school won’t know until after Christmas whether it can obtain short-term loans to keep its doors open. “Nothing could be solidified” on Monday, she said, adding that the trustees are “optimistic.” “It’s not like the school was caught off guard,” she said. “They’ve been working on the big picture a long time, and it’s coming to fruition now — we think.” The top priority at the moment is getting water service restored, Copenny said. School leaders hope to meet with city officials to work out another payment plan to erase the old bills.

It appears the foreclosure sale will take place unless Morris Brown officials can persuade investors to give them more time to pay the nearly 13-year-old debt, said Gregory Worthy, an Atlanta lawyer for U.S. Bank, which represents the investors.
“They’ve been in default on the bond issue for a good while now,” Worthy said Monday. “The original principal amount of the bonds is due and payable.” Source: Atlanta Journal Constitution.

This school is no stranger to controversy and their financial problems have been brewing for a while.The school lost its accreditation in 2002, and its former president, Dr. Delores Cross, and former financial aid director were convicted in a federal embezzlement case in 2006. They can't possibly expect prospective students to give this school a second look, Enrollment, which was once nearly 3,000, has dropped as low as 56 in recent years before bouncing back to about 240 this fall. They need to fire the president and all the members on the board of trustees. This school was built to empower African Americans, not to tear them down.

American Idol's Fantasia's Home in Foreclosure

According to US Magazine.com, Fantasia Barrino, the third season winner of American Idol, is about to loose one of her Charlotte, North Carolina homes to foreclosure. The six bedroom, 6,232 square foot home is scheduled to be auctioned on January 12th 2009.

This is one of two of the 8 time Grammy winner's homes in North Carolina. The home in foreclosure is stated to have been purchased at $1.3 million dollars according to public records.

Is this just another sign of the economy or is this something totally different that we see time and time again? Fantasia has appeared in a couple of movies and has produced several hits. I wonder where her financial troubles are coming from. Are stars being born to fail in Hollywood's dog-eat-dog world, or are they not being taught or catching onto the important part of being a celebrity?

Many stars come and go and you always hear of celebrities that face financial woes; but that's usually after their short lived status has fizzled in America's short attention span of the Hollywood glamor craze.

In my opinion Fantasia should be doing okay. She's still putting out hits. But I think like so many other African-American stars, she's missing out on the big part of being a celebrity and that's how to maintain your wealth.

American Idol's Fantasia's Home in Foreclosure

According to US Magazine.com, Fantasia Barrino, the third season winner of American Idol, is about to loose one of her Charlotte, North Carolina homes to foreclosure. The six bedroom, 6,232 square foot home is scheduled to be auctioned on January 12th 2009.

This is one of two of the 8 time Grammy winner's homes in North Carolina. The home in foreclosure is stated to have been purchased at $1.3 million dollars according to public records.

Is this just another sign of the economy or is this something totally different that we see time and time again? Fantasia has appeared in a couple of movies and has produced several hits. I wonder where her financial troubles are coming from. Are stars being born to fail in Hollywood's dog-eat-dog world, or are they not being taught or catching onto the important part of being a celebrity?

Many stars come and go and you always hear of celebrities that face financial woes; but that's usually after their short lived status has fizzled in America's short attention span of the Hollywood glamor craze.

In my opinion Fantasia should be doing okay. She's still putting out hits. But I think like so many other African-American stars, she's missing out on the big part of being a celebrity and that's how to maintain your wealth.