Now “The Most Visited Urban Website In The World” is claiming that pop superstar Rihanna is broke.
It seems that the singer is selling the Beverly Hills mansion she bought from her manager’s sister for less than she owes on it; in otherwords a “short sale.”
This past August TMZ reported that Rihanna bought the house under the impression that the property was physically sound, as was the claim of the seller, and home inspector. But after a moderate rain storm in January, 2010, the defects in the house caused major water damage.
She has since filed a lawsuit against the former owner, the home inspector, the real estate agents involved with the sale, and engineers who worked on the house.
MTO, however, is suggesting that the only way she could quaify with a bank to sell the property for less than she owes on it is if she were in financial peril, and so has to make the sale.
She apparently paid $6.9 million for it, and is now trying to get $4.5 million. “The Bajan singer is asking sellers to pay $2.5 MILLION LESS than the amount she paid for the home just two years ago.” Says MTO.
They reason that the only way she is able to make the price lower than what she owes is because she can’t afford it. And if she can afford it, then advertising it as a short sale would be fraudulent. They go on to suggest that if she goes through with the sale, the damage to her credit would make getting another mortgage nearly impossible for the next 5 years.
This could be the case. It’s no secret that massive tours require massive amounts of money to stay afloat. Rihanna could be in financial trouble, and needs to get rid of a mortgage or two. But, given the lawsuit, and actually reading the listing for the house, she no doubt just wants to cut it loose.
The ad says: “Home is a MAJOR FIXER with EXTENSIVE water intrusion from (but not limited to) roof, windows, doors, and balconies…the home is being sold strictly AS IS and will be subject to a short-sale. PROPERTY WILL NOT QUALIFY FOR BANK FINANCING.”