@Chamillionaire @TMZ
Despite a struggling economy, entertainer, Chamillionaire says he’s not ready to drop the “millionaire” from his name.  (The jury’s still out as to whether that ever even applied in the first place.)  From afar his recent bank foreclosure of a Houston property would suggest he is unable to pay his bills.  However, the Houston area rapper tells TMZ he purposely stopped payment on the 7,583 sq. ft mansion as a calculated business decision.

“I have multiple mortgages — some for me, some for other people. This house was actually my most expensive mortgage,” the rapper told the website of the foreclosed mansion he previously bought in ’06. “I decided to let that house go because the house ended up being worth nothing. When the market went down, the house went down too. It was just worth nothing. I paid close to $2 million for the house, and I decided to let it go, give it back to the bank.”

Chamillionaire added that he seldom spent time at the house given his busy schedule and insist it has nothing to do with financial woes.  And for the scores of you who are concerned that Cham might be homeless, he reassured everyone on Twitter that he plans to purchase another mansion, perhaps smaller and more affordable.

@Chamillionaire: I”m guessing TMZ left out the part about the new mansion. That’s cool though

One thing I know is I DEFINITELY need to bank wherever Chamillionaire is banking because any bank that allows a customer to default on a mortgage, publicly say they did it despite having the money to pay, somehow avoid a lawsuit and then magically find a way to secure a loan for a second mortgage has to be a Multi-Chamillionaire.  While some might be fooled by the lies, the Nation wasn’t born yesterday.  Sell this bullshit.