We never thought we’d be reporting that he’s having a cash flow problem.
According to TMZ, the rapper/actor is in danger of having his Chicago apartment foreclosed on because he allegedly hasn’t paid his mortgage since March.
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According to legal documents, Common (real name Lonnie Lynn) and his manager, Derek Dudley, got a mortgage for a condo back in 2008. But Bank of America claims … beginning in March, the duo stopped making the monthly, $2,285 mortgage payments.
So now BOA is getting tough, filing foreclosure docs. The Bank wants to sell the property, and recoup the amount of the mortgage, plus interest and penalties, which total $345,389 … and 52 cents.
Calls to Common’s rep were not returned.