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Fantasia Barrino Strikes Deal to Save $1.3 Million Home
Monday January 12, 2009

Fantasia Barrino
Fantasia Barrino attends the Trevor Project's 11th annual "Cracked Xmas" fundraising benefit on December 7, 2008 in Los Angeles, California.
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American Idol Season 8

Fantasia Barrino is no longer facing foreclosure on her $1.3 million home, attorneys for the American Idol winner have announced.

An auction of the six bedroom, 6,232-square-foot mansion in Charlotte, North Carolina was scheduled to take place Monday -- but the American Idol winner struck a deal with her Florida-based creditors to keep her home for now. She could still lose it at a future auction if a settlement is not reached.

"Assuming the promised payments all get paid as indicated, we will be satisfied," Larry Goldman, the lawyer representing lender Broward Energy Partners, told the New York Post. "I didn't want to take her house."

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The 24-year-old still owes $65,000 -- money she borrowed in 2006 to pay back taxes to the IRS. Her last payment of $10,000 was made in August 2007.

Barrino has agreed to a repayment plan, but the creditor's lawyer didn't release details.

"Reading between the lines, I'm assuming the money is not there or, at least, it's not there in the short-term," Goldman told the Post. "My client just wants to be paid."

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This isn't the first time the 2004 Idol champ has faced foreclosure. In 2005, she nearly lost a 4,500-square-foot home in the same neighborhood. plus a $240,000 Mercedes. Both matters were resolved in court, although tax records show she owes $14,678 for that residence.

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Barrino is mom to 7-year-old daughter Zion, whom she gave birth to when she was 16 years old. Her duet with Jennifer Hudson "I'm His Only Woman" is up for a Grammy next month, and her MySpace page says her next album is coming out this year.

The season-four winner's lawyers and manager did not return calls to the Post.

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PagePosted by Lindsay Powers at 9:59 am ET     Permanent Link | 12 Comments
Categories: Fantasia Barrino | American Idol


8:36 AM Anonymous Says:

ANONYMOUS SAID: "Why did this person even win? She is just another Ruben Studdard. She hasn't really done anything and is obviously living WELL above her means. In the whole scheme of things, considering real estate prices, $1.3M isn't that expensive of a house (as in, a "normal" person who does well, saves well, and manages their money could aford it over time).

It ain't happening, girlfriend! Maybe now is the time to go back to school, get an education, and get a real job!"

>>>>>>>>>>>>>>>>>>>>>>>>>>>

SHUT UP RODENT! Why don't you get a life and quit worrying about Fantasia or Ruben Studdard. They're not the only and first entertainers to have money problems and they won't be the last. Can YOU say Ed McMahon? How do you work for 20+ years on the #1 Late Night Show w/Johnny Carson and now YOU don't even own your own home...you've lost it?

Now, if you want to belittle someone - belittle that ole fool!

8:29 AM DonnaT Says:

Unfortunately for Fantasia, she's probably getting poor accounting advice. These young stars are told to invest in real estate when actually all they need is one home and bank/invest the rest of their money - but not in real estate...most are not savy enough to keep track of it. Also, looks as if she needs a good or better accountant AND SHE needs to learn to keep tabs of her money and when/and if her bills are being paid.

11:35 PM Brandy F Says:

Why are you people so hateful and judgemental? Seems like you can't stand the thought of a young black woman having more money than you.
Get over it!

6:58 PM Anonymous Says:

SOMETIMES THINGS HAPPEN TO A PERSON BECAUSE OF THE WAY U LIVE...GOD KNOWS EVERYTHING..U CANT DECEIVE GOD OR PLAY GAMES WITH HIM, THE LORD SAY I AM A JEALOUS GOD, SO WE HAVE TO MAKE SURE THAT NO MATTER HOW BLESSED WE MAY BE TO ALWAYS PUT GOD FIRST AND PLEASE GOD WITH NOT ONLY WAT WE SAY BUT HOW WE LIVE....REMEMBER GOD GOT U THIS FAR FOR A REASON ( NOT TO LOSE WAT HE BLESSED U WITH) THER IS NO FAILURE IN GOD... A FOOL AND HIS MONEY WILL SOON DEPART...SO DONT BE FOOLISH

1:41 PM kfccanada Says:

L10:38 AM Anonymous Says:

Larry Goldman sounds like a money-hungry dumb Jew.

Au contraire, Jewish people are very very smart and especially intelligent when it comes to money and....one can tell from your statement....that you are not very smart at anything.

1:02 PM AnonymousALE Says:

If Fantasia cannot afford this second home, she should let it go now. She is spending money that she doesn't have.

12:15 PM Anonymous Says:

10:38: what a hateful, disgusting comment - he even said he didn't want to take her house, and technically, she OWES the money. If anyone's dumb here, it's HER. She's the one living well outside her own means. For someone who was barely surviving on welfare, she's obviously got no concept of how to handle her life. I just feel bad for her daughter. Grow up!

12:09 PM OMG Says:

So, let me get this straight- she wins a TV talent competiton- sings a few songs and can suddenly qualify to buy a mansion and a car un-worth several hundred thousand dollars? Now she is broke? uhhhh, this girl needs some guidance with whatever money she has left. This is pitiful- looks like her fifteen minutes has elapsed. Back to real life. What a waste of resources that she may never get the opportunity to make again. So sad....

12:01 PM Anonymous Says:

Why did this person even win? She is just another Ruben Studdard. She hasn't really done anything and is obviously living WELL above her means. In the whole scheme of things, considering real estate prices, $1.3M isn't that expensive of a house (as in, a "normal" person who does well, saves well, and manages their money could aford it over time).

It ain't happening, girlfriend! Maybe now is the time to go back to school, get an education, and get a real job!

10:53 AM Anonymous Says:

Hey 10:38 Your comment is way off base and very very bigotted. Do you think she deserves to keep a home that she can't afford to pay for? Are you someone who believes they deserve everything for free? She should have never bought a 1M home if she couldn't pay for it. Get a freakin life you moron!!!

10:47 AM Anonymous Says:

"This isn't the first time the 2004 Idol champ has faced foreclosure. In 2005, she nearly lost a 4,500-square-foot home in the same neighborhood. plus a $240,000 Mercedes."

------

Some people never learn from their mistakes. I see she continues to live well beyond her means. I don't feel sorry for her at all. Buy a home and car you can afford and you won't have to worry about these issues in the future.

10:19 AM Jess Says:

Considering she's had problems with money before, I don't think she ever learned how to manage your money. I know not everyone is good with money, but if she had enough money to purchase that big home, she had enough money to hire someone to help her with her finances.

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