Hip-hop mogul Damon Dash is facing foreclosure on his luxury New York homes. Eastern Savings Bank has filed a suit against the Roc-A-Fella Records co-founder, accusing him of falling behind on payments on his two TriBeCa properties.

Dash reportedly took out a $7.3 million mortgage on the two homes, but the bank has now filed a foreclosure action against the star - charging him with failing to deliver the $78,500-a-month payments since January, according to New York gossip column PageSix.

It is not the first time Dash has faced a financial crisis - last year he was accused of owing the New York tax department $2 million in back charges.

- Damon Dash Photos

(This news article provided by World Entertainment News Network)