Damon & Rachel Facing Foreclosure?

Damon Dash and Rachel Roy may be darlings on the hip hop and fashion scenes, but keeping up appearances doesn't come cheap. And it looks like the couple overextended themselves a wee bit in 2006 when they took out a $7.3 million mortgage to cover two Tribeca properties—a two-floor loft in the Atalanta building at 25 North Moore Street and a spread in the Sugar Warehouse at 79 Laight Street. They reportedly stopped paying their $78,504-a-month mortgage payments in January. Now Eastern Savings Bank has filed suit against the couple to recoup the money (along with $10,000 in late fees), which means they could be facing a possible foreclosure if they can't come up with the cash. After the jump, you can look over the mortgage that got Dash and Roy into this mess.

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