The former music producer for Britney Spears, 50 Cent and Mariah Carey continues his legendary fall from grace — Scott Storch has lost his massive Miami Mansion.
SunTrust Bank took back ownership of the home Storch defaulted on last July, buying it back at an auction on Friday for $5.5 million.
The 10-bedroom, 16-bath home was valued at around $7 million.
The bank had been trying to foreclose on Storch for months, but couldn’t because he had declared for bankruptcy
(it was recently dismissed).

We heard, Scott had signed a deal for his own reality series. However, we’ve heard nothing about it since and our experience with-in the entertainment industry is that it won’t be very profitable for some time after it launches. Assuming it is a hit (which we doubt)!

Do you still want to be in the entertainment business?

SOURCE

Now’s the time for all of Jacky’s readers to move to Hollywood!! and I don’t mean for the beautiful weather or ladies either mane!! It’s a buyers/renters market. Home prices and rents are super affordable. The market is over flooded with houses and apartments fit for a pimp!! just ask Jacky, he just closed on his new house in the Hollywood Hills!! The other reason that now’s the “Time” is Hollywood’s about to explode!!

The W Hotel’s moving to town, Cirque Du Soleil’s coming to the Kodak Theater, Filming is begining again. and you know what that means? Hollywood’s going to be the place to make that money again
mane!! Jacky likes his readers to know the inside scoop, So if you’re looking for a Hollywood apt. call Noah at The Ojai Apts. 323.851.7668 that’s where we send our HSK International Interns, or if you’re looking to buy a home in Hollywood, contact Shawn at The Reis Group.

Tell’em Jacky sent you!!

THE REIS GROUP HAS DONE IT AGAIN!
In association with Hilton & Hyland Agent Rebekah Schwartz

You might recognize this house as E’s house from the 6th season of HBO’s show Entourage

Jacky Received the following message from a reader, who like most people out there are looking for some RELIEF!

“Jacky, I have a property that has lost all of its equity. (like everyone else). I tried to get a loan modification, I qualified for the Obama program , but the loan only lowered a little bit. The change in the amount was still going to be unaffordable to me. And condos in my complex are selling for under 180,000, i bought mine for 339,000. can you help me? Robert”

Shawn Kormondy of The Reisgroup in Beverly Hills (HSK’s feature foreclosure specialist) as responded with the following advice…… (more…)

George and Barry are your typical California progressive gay couple. They bought a home in southern California back during the boom. They couldn’t afford it back then, but the banks were giving out money with little or no deposit. So George and Barry borrowed money from friends and family and they bought a new home.

Georges mother lives with them, they decide they can charge her money to rent one of the rooms and subsidize some of their costs. George and Barry don’t work all that much. George spends a lot of time in chat rooms and Barry does some internet work for various clients… His work is below par so they are usually one off jobs. With the recent severe downturn of the economy and real estate market they are completely broke and behind many mortgage payments. The banks and various collection agents call daily, to the point George and Barry don’t even answer the phone anymore. Screening all calls that come in.

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