June 2010: A Houston residence owned by rapper Chamillionaire, Hakeem Seriki, was repossessed by the bank after it went into foreclosure. The rapper denies any serious financial difficulties on his part saying, saying it was a calculated business decision. He bought the 7,583 sq. foot home for roughly $2 million in 2006 and claims that after missing a few payments he "decided to let that house go" since it was no longer worth what he was paying for it. "I just didn't feel like it was a good business investment, to keep paying that much mortgage on a house that I was never at. Don't try to take this to a point where Chamillionaire has money problems. There was no financial negligence, none of that. I'm still a Chamillionaire. When I'm a Cha-thousandaire, then you'll have a real story."