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Here's an update on the Wyclef Jean foreclosure situation. It's been reported that the $2.4M Miami waterfront house went on the auction block last Friday. The house was scheduled to be sold at the Miami-Dade Courthouse along with a handful of liens by the construction crews, who never finished, and more than $100 thousand in unpaid taxes.
November foreclosures in Miami-Dade county were almost double what they were last year. For the entire year of 2005 there were only 78 hundred foreclosure filings. Jump to 2007, the number increased to 27 thousand and for the first 11 months of 2007, foreclosures have increased to 51 thousand. So Clef's situation is not isolated. Just hope he comes through this situation.
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