- 2 Norlund Way [HAR]
Prancing onto the market just yesterday: This 10,672-sq.-ft. gated bouquet in that cute little already gated neighborhood in The Woodlands, not far from the smaller mansion Chamillionaire generously handed over to the bank last year. Features 6 bedrooms, 6 full baths, 6 balconies, a 5-car garage, all guarded by a small army of spotlit corbels. There’s a putting and pitching green in the yard of the acre-plus lot; you can warm up there before braving the winding, mile-long trek to the Carlton Woods golf course.
In a streaming-video event broadcast last night, hip-hop star Chamillionaire tried to explain the circumstances surrounding the foreclosure of his Woodlands mansion. He claims his decision to give the 7,583-sq.-ft. property in Carlton Woods back to the bank was part of an attempt to lower out-of-control expenses in light of 2 recent life-changing events: the birth of his son and learning from his mother that she has cancer:
She’s doing fine . . . and I was like . . . whatever you need, I want you to ask me. And my mom won’t ask me because she sees me with all these expenses, and . . . she doesn’t want to say anything. She wants me to live my life and have fun and buy all these cars and all this stuff and doesn’t want to burden me . . . I wasn’t cool with that. . . .
I know I spend all this money a month. You don’t know what the feeling is, spending $300 thousand . . . quick, just seeing it come out of your account. I don’t care how much money you got — you gonna be like, dang, that’s $300 thousand!
I’m paying all kinds of stuff: multiple businesses, stuff for other people, etc. etc. So I told her, you know what, don’t worry about it. Whatever bills may come, you let me know. I’m gonna keep my bills the same. I’m just gonna cut some slack.
Next: It’s budget-cutting time in Carlton Woods!
COMMENT OF THE DAY: KEEPIN’ IT REAL IN CARLTON WOODS “few know who’s at home - Audis and Benzes inside fences - in The Woodlands. Pro ballers, TV talkers, all that Laying low Playing holes Paying assessment in The Woodlands. In the cages on off days The party cue, kids with a tutor, in The Woodlands.” [movocelot, commenting on A Look Inside The Woodlands Mansion Chamillionaire Gave Back to the Bank]
Here’s what you wanted to see: nice fuzzy photos of the 7,583-sq.-ft. mansion in a gated neighborhood in The Woodlands recently repossessed from rap star Chamillionaire. Talking to TMZ reporter and comedian Adam Glyn yesterday in front of the W Hotel near New York’s Times Square, the Houston native says he gave the house in Carlton Woods back to the bank because he “just didn’t feel like it was a good business investment to keep paying that much mortgage for a house that I’m never at.”
This house actually was my most expensive mortgage. And I decided to let that house go because the house ended up being worth nothing. When the market went down, the house went down too and it was just worth nothing. . . . I paid close to 2 million dollars for the house and I decided to just let it go, give it back to the bank. It wasn’t a situation where they came and took it from me. I felt like I didn’t want to pay that much money a month for a house that I’m never at. I was never at the house, I was always on the road touring . . .
The rap star, who bought the home under the name Hakeem Seriki Millionaire Mindframe Trust (Hakeem Seriki is his real name), actually paid $2.125 million for the property in 2006. TMZ reports the home was foreclosed on after the owner failed to make several payments. The 5-bedroom, 5 1/2-bath house on an acre-plus corner lot may have been “worth nothing” to him, but the bank will likely be able to squeeze a fair bit of money out of it: