The Celebrity: Chamillionaire
When He Faced Foreclosure: May 2010
Why It Happened: Unlike most of the celebs listed here, the bank didn't come in and forcibly take his home after foreclosing on it. Rather, Cham claims that he let the home go into foreclosure as a business decision that he made. "I was always on the road touring," he said at the time. "I just didn't feel like it was a good business investment to pay that much mortgage for a house I was never at." Hmmm…Sounds like he should have thought about that before he purchased his home.