Nas has reportedly lost his Georgia house to foreclosure. According to media gossip outlet TMZ, the Queens rapper, who purchased a two bedroom, three bathroom home in 2004 for $585,000 by receiving loan from SunTrust Bank, defaulted on the payments and currently owes $507,000.

The property was then put up for auction in September, and has since been bought out by the highest bidder for $348,500—$236,500 less than what Nas paid to purchase the house.

No official statement has yet been released from Nas' representatives.