: MediaTakeOut.com reported earlier this year that R&B singer Rihanna has been under some SEVERE FINANCIAL PRESSURE lately. Well it's all come to a head.
We learned that Rihanna is SHORT SELLING her mansion. The Bajan singer is asking sellers to pay $2.5 MILLION LESS than the amount she paid for the home just two years ago.
The home was just put up for listing - and is being listed as a SHORT SALE - meaning that Rihanna's MORTGAGE on the home is greater than the amount of money she's ASKING.
So we know what you're thinking - isn't it a SMART idea to do a short sale if the value of the home is less than the amount of the mortgage owed. Well the fact is that banks will NOT approve of a short sale, if they believe the borrower has the FINANCES to continue paying the mortgage. So that means unless she's BROKE or under financial DISTRESS . . . she CAN'T do a short sale. And if she KNOWINGLY advertised the sale of her home as a SHORT SALE (like she did below) knowing that she WOULD NOT QUALIFY, that could be considered a FRAUD.
And even if they DO approve of the short sale, the DAMAGE to Rihanna's credit would be severe. She'd be unable to get another mortgage on a home for at least 5 years.
So HOW could Rihanna be under such financial distress . . . isn't she one of the BIGGEST ARTISTS in the world? Well maybe we can ask her MANAGER, Jay Z and em . . . .
C'mon now. this is soooooo bogus and wack! try again M.T.O it's ok to sell a property that is damaged and you barely live in without being broke. You do a short sale when you owe more than the property is worth. the market changes constantly. Rihanna is definitely not broke! get a life!
MTO, you are so dumb. If you did your research, you would have discovered that the house has major drainage and water damage issues. She tried to go after both the seller and realtor but I guess that angle did not work in her favor. Since she will never live there, she opted to just unload. I am not a Stan but you are the worst reporters on the planet! Say word!
Rihanna sued the person who sold her that house its leaking and sh.t she wants out if rihanna ass is broke all of us in poverty ain't no way her ass could be broke with music and all her multimillion dollar endorsements like covergirl armani and etc.
My Girl is far from broke... Celebs do different things at different time depending on what they want to accomplish... Just because someon does a short sale does NOT mean they are broke. Trust me... My girl has paper that is VERY LONG! ;)
These people aren't hardly broke when they have to short sale mansions. Everybody else is broke and nobody is able to pay full price when these celebs put em up for sale. It better that she short sales rather than it sitting unused wasting money. She has savvy financial advisors in this manner.
ooops ! that sniffy , sniffy stuff she likes so much .... is getting heavy on her pockets ((( shrugs ))) ... seriously though ..... it's surprising how easy you can spend much quicker than your actual income earnings !!! ..... after the tax man and record companies take there cuts ...... you may not have as much as you would like .... more so if your very not savvy with money investments and planning etc ..... a good accountant right now is maybe needed ?.
Far from broke. she barely is even in the states unless its appearances cus she is TOURING. You do sold out shows in o2 and come back broke, i'd like to see u try. the betch is set for her lifetime and everybody elses in here. She could hire yall a spellchecker as well. So instead of bashing her ya might need to ask her for a handout.
I don't like reading stories about celebrities going through financial problems because financial stress is no joke and extremely embarassing and hurtful. BUT i read this story because I really doubt she is having problems paying. I believe you all reported months ago that she was pissed about buying the house, so much so that she wanted to leave RocNation because someone close to the camp acted as her realtor and didn't reveal how much work the house needed... she bought an overpriced house. I watch a lot of HGTV and have learned that unless the house is sold "as is", NEW homeowners can go back and sue former owners and/or inspectors for not revealing the problems. So I bet (because of rumors yall post) through well-paid lawyers Rihanna was able to actually find ways to get out of her original loan and get it knocked down by 2.5 because of the deception and actually forced the bank to let her list it as a short sell hurting them, instead of her... and now she probably isn't interested in repairing the house and just wants to get rid of it. If she lost any money by putting it up for sell she probably can afford losing it... So let's say the loan is "actually" 3 million ... she may be able to afford losing 500,000 vs. dealing with the repairs that exceed that price, along with her distrust of people claiming to do honest work because of her experience with the people who sold her the house in the first place.
Riahnna isnt broke! MTO report accurate information....... RiRi is suing the former owners (who thoroughly remodeled the house in 2007 and 2008) and several other parties, alleging that the house was seriously leaky and became waterlogged after a "moderate rainstorm" in January 2010. Rihanna paid $6.9 million for the house in 2009 and the suit also alleges that she overpaid because her broker didn't give her proper comps.
STOP HATING ON AND BEY
ok if this is some how true..... She needs a whole new team because ain't no way in hell Rihanna should be broke... u never see her buy anything does she even have a car? so how the hell is she broke... Fire fly u need a whole new team if true because somebody is getting away with ur hard earned millions...and maybe after the tour you could take a little time off u recorded that album on tour photo shoots interviews partying you have the I will sleep when am dead thing going right now.... rih u have made ur mark made history more then once... ur the sexiest women alive the navy is deep and not going anywhere trust.... Rihanna will not be forgotten or be said to have fallen off... u have left us with enough to hold us over while you do u and take some time off... we will be here when u come back u know how the navy does it....I love u very much and wish u nothing but the best and some rest love always monique
damn, i just typed a long ass 3 paragraph speech about this bitch hating on the QUEEN. And now i dont even see it. DAMN all i can say is: KERI WHY ARE YOU SO JEALOUS, IT'S NOT LIKE YOU HAVE A CAREER. LMAO, and stans right now im watching carmen, and i love when bey gets to fighting with that girl lol.
JAYZ GOT NO BREAD FOR RHI RHI, THATS WHY RHI RHI'S BROKE , BECAUSE JAY Z IS HER MANAGER , TAKING ALL HER MONEY , SHE NEEDS TO GET ANOTHER MANAGER , OTHER THEN BEYONCES LAME ASS HUSBAND , HE PROBABLY IS USING HER REVENUE OF FUNDS , ON HIS WIFE BEYONCE , LMAO , ROFL
I don't think she's broke, but she's obviously losing money on the deal. Her credit will be fine as long as she pays the difference to the bank after she sells. From an investment standpoint, she bought while the market was high and it sounds like she can't rent or enjoy the home in the state its in and doesn't want to pour any more money into a depreciating property. Might be better to just cut her loses and be more careful next time.
She's selling the house because there was undisclosed water damage when she bought it. She's been in a legal battle over it. I guess she just wants to unload the property, even if it means taking a loss.
lol i laugh when i hear peeps say celebs like rhianna can't go broke !! ..... they all live above there means 99.9% of the time look at whitney huston !! or bobby brown .... T Boz has gone just gone bankrupt broke too !!! .... plus Suge Knight just too name a few.... plus 99.9% of BadBoy Ent artists are BROKE or are in jail ..... and some of them are even dead !? ..... so stop saying it can't happen ........ it can happen to anyone in fact ...... sad but true !!! .... learn from there mistakes !! .... and don't glorify in ignorance in there errors .... Rhi is not bankrupt material i AGREE on that one ... but damn it's time to start saving the pennies .... only the 1% elites can go blow the bank nowadays ..... many rappers are selling drugs to survive now ... we all heard the stories ((LOON )) cough, cough ! ... and the gals take MTO style type nekkid pics and do sextapes lol ?
dumbies once again it ain't cause of the reccession Rih Rih is broke it's mis management of her finances young rich and stupid that's all this is Michael Neeson is 7 years younger than her and not nearly as stupid with money though he's from a dynastic acting family as in the Redgraves oh by the way his grandmother Vanessa won an oscar. I'll bet if she were asked to be in a film with Ms Redgrave she'd refuse and so what she's selling a house she barely lives in
I did a short sell on one of my out of state rental properties because it was severely underwater (owed more than the property was worth) and the previous renters damaged it so bad, I was unable to rent it out. My only options were to walk away or short sell. I chose the latter. Sure my credit took a small hit, but it was better than keeping the property. Besides, I don't plan on selling my primary residence anytime soon anyway.The point is that everyone that short sells is NOT broke. Sometimes things like bankruptcies and short sells or just shrewd business deals. I'm fortunate to be far from broke...and I'm pretty sure Rihanna is too!
Grrlll plz~~~ remeber Toni Braxton? she spent 10k a week on flowers for hrr house and got all bankrupt, had to sell her crib. And MC Hammer~~~ hadda do da same~
mebbe Riyanna spentz too much on hair weevez. Dats ok RiRi- itz almos first o da month~jus sell yur food stampz grlfrnd ~._. ~