10/15/2012 03:59 pm ET Updated Oct 22, 2012

Nas' Home Foreclosed: Rapper Loses Georgia Home Due To Financial Troubles

In spite of landing his sixth number one album, “Life Is Good,” in July Nas is still experiencing a few low points in life.

According to TMZ, the New York-bred MC (born Nasir Jones) recently lost his 2-bedroom, 3-bath suburban Georgia home stemming from a foreclosure. Though Jones reportedly purchased the home in 2004 for $585,000, he defaulted on loan payments to SunTrust bank, resulting in a $507,000 debt, all of which was sold for $348,500 during a public auction last month.

The rapper’s foreclosure adds to the growing list of his financial woes. The Internal Revenue Service reportedly garnished his earnings due to a total of over $6 million in delinquent taxes.

Prior to releasing his 10th studio album, Nas opened up to Billboard on addressing such public topics in his music.

"When I started working on the record, I tried to avoid it," he said. "The timing was just calling for me to not avoid all the shit that was going on out there. It was like a 10,000-ton gorilla in the room watching me. This is the way I got it off of my chest.”



Celebrity Tax Evaders