On Monday, We profiled Forbes’ special report on the Prominent Hip Hop Homes for sale.  Some of the prominent figures mentioned were looking for upgrades while some of them fell victim to a down economy and imminent foreclosure.  One name that wasn’t on the list but if you believe the Associated Press should have been.  ContactMusic is reporting that music exec turned has-been turned fashion mogul turned housing market victim, Damon Dash is in danger of loosing two of his Manhattan apartments that he shares with his wife, model Rachel Roy.  

Earlier this year 4pl told you that Dash had to sell one of his Manhattan homes to prevent forclosure.  We speculated that he was having cash flow problems however in April it looked like the couple had rebounded signing a huuuge $4 Billion joint venture with Jones Apparel.  Well it looks like that check must “still be in the pipeline.”  The Associated Press reports that Dash and his wife owe $7.3 million on the two properties, according to court filings, and foreclosure proceedings have begun. Eastern Savings Bank, who holds the mortgages, says the couple’s monthly mortgage payments are $78,500, which they apparently have been making.

Damn…or should I say Dame.  One thing I do admire about the cat is that he exemplifies the heart of a true champion.  As many times as he gets knocked down…he always gets back up.  He’ll be back.