Thursday, July 24, 2008
Music 360: Easy Come, Easy Go
Not only is Scott Storch having “cash flow” issues, he’s now getting his home in Miami foreclosed on. Suntrust bank is forclosing on his ish and is putting him out extra soon. According to The Palm Beach Post:
In his blinged-out heyday, Storch signed for two SunTrust mortgages worth a combined $7.75 million so he could buy a 10-bed, 16-bath mansion on Miami’s Palm Island. He hasn’t made monthly payments for most of this year, even after borrowing another $170,000 from friends, according to court papers.
Storch’s sprawling home also has been liened by an electric company for $11,215 and a security system installer. Storch still owes $17,151 for his state-of-the-art camera network — a system that couldn’t keep out repo men.
Over the past month, Storch saw his Ferrari Scaglietti and his prized motorcycle, a Bones Bike, repossessed.