Use To Be Balling: Chamillionaire

Southern rapperChamillionaire’s Houston,Texas mansion was recently repossessed by the bank, according to TMZ. The home, which was well over 7,000 square feet, was purchased by Cham in 2006 for about $2 million, but the lyricist missed too many payments, so the bank decided to take over.

The celebrity gossip site caught up with the rapper in New York to discuss the foreclosure and he revealed that he didn’t lose the house as a result of some financial problems, instead he simply “decided to let that house go.”

“I was always on the road touring.  I just didn’t feel like it was a good business investment to pay that much mortgage for a house I was never at,” he explained.

In related news, Cham was prepping for the release of his third studio album, Venom, later this month on the 22nd, but the LP has been pushed back indefinitely in light of fellow rapper Eminem also choosing that date to drop his highly anticipated project, Recovery.

The debut single for the album, Good Morning, was released in the fall of last year, and Cham recently shot the music video for the second single, Main Event, which featuresDorrough, Paul Wall, and Slim Thug in April.