News: Xzibit Still In The Red, More Debt Problems Emerge
Friday, Apr 24, 2009 11:40AM
Rap veteran Xzibit's debt issues have continued to leak online as the rapper-turned-actor is reportedly facing a home foreclosure due to mortgage payments.
While X has yet to release a statement addressing his monetary issues, he now owes over $21,000 to a bank.
TMZ has learned Xzibit owes at least $21,403.98 in back mortgage payments, and he's officially been warned by the bank that foreclosure is next. But judging from the way Xzibit flashed his ridiculously expensive diamonds in Vegas Wednesday (April 22) night, someone forgot to tell him about the house trouble -- and the more than $500,000 he also owes in back taxes. (TMZ)
His tax records leaked online late last week displaying various financial debts.
The government says Xzibit owes $501,840 in federal taxes. He has gone on to star in a string of movies to a one-time Broadway star who has tax liens totaling more than $350,000. The IRS filed a $205,485 lien on February 4 in the Los Angeles County Recorder of Deeds office. On April 17, 2008, the IRS had filed a $296,355 lien. (Detroit News)
Despite the financial crunch, X is offering $10,000 to fans willing to follow him via his Twitter account.
Xzibit will be giving away $10Gs to his Twitter followers, specifically, five stacks will go to his 500,000th follower and the other $5Gs will be awarded to some other follower chosen at random. One thing, though: to date, Mr. X-to-tha-Z boasts a grand total of 9,186 followers, so get to following. Just think: you've got a .0002% chance of being $5,000 richer. (Vibe)
In addition to co-starring in 2006's Gridiron Gang and hosting "Pimp My Ride," X released an album nearly three years ago.
Full Circle (2006) marked Xzibit's return to the music marketplace. No longer signed to a major-label recording contract, Xzibit released the album via Koch Records, and consequently it sold only a fraction of what his previous few albums had, despite some first-rate production and the rapper's newfound status as a TV celebrity. (All Music)
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