Scott Storch Officially Loses Miami Mansion In Foreclosure

2009-08-25-scott-storchScott Storch tried to hold on to his Miami mansion, after going through financial and personal problems the past few years. But, he has lost his Palm Island residence.

TMZ reports: The former music producer for Britney Spears, 50 Cent and Mariah Carey continues his fall from grace…Scott Storch has lost his massive Miami Mansion. SunTrust Bank took back ownership of the home Storch defaulted on last July, buying it back at an auction on Friday for $5.5 million.

The 10-bedroom, 16-bath home was valued at around $7 million.

The bank had been trying to foreclose on Storch for months, but couldn’t because he had declared for bankruptcy (it was recently dismissed).

There were reports of Storch had signing a deal for his own reality series. But there hasn’t been any confirmation on the project.