Prince Settles 'Foreclosure Crisis'

Celebrity

A representative for Prince has confirmed the pop superstar has avoided foreclosure on his Minnesota estate by paying off his mortgage bill in full.

April 22, 2011

AceShowbiz - The "Purple Rain" hitmaker, Prince owns 20 acres of land in Chanhassen, Minnesota, where one of his many homes once stood before it was torn down in 2005.

The land reportedly fell into foreclosure after the star allegedly failed to keep up with mortgage payments and the local Carver County Sheriff's Office scheduled an auction to sell it off to pay the alleged $368,000 (GBP230,000) mortgage bill, according to Minneapolis' StarTribune. A foreclosure notice is said to have been posted in a local newspaper.

Editors' Pick

But a representative for Prince has now confirmed steps have been taken to resolve the situation, telling the StarTribune a "payment has been made" to the bank for the full amount "about four or five days ago".

About This Article

AI-Assisted Content: This article was created with the assistance of artificial intelligence technology under human editorial oversight. Our editorial team reviews and verifies all AI-generated content for accuracy.

Sources: Information in this article may be aggregated from publicly available sources including press releases, news agencies, and entertainment industry sources. We provide attribution where applicable and strive to ensure factual accuracy.

Learn More: For details about our editorial standards and practices, visit our Editorial Standards page.

Contact: Questions or concerns? Email us at [email protected]

Follow AceShowbiz.com @ Google News