Iconic pop star, Prince, recently avoided foreclosure on his 20-acre spread in Chanhassen, Minn., paying a delinquent mortgage bill of $368,000 in full, according to The Star Tribune.

His lender, Bank of New York Mellon Trust Co., filed for foreclosure and a public auction was set for May 13, 2011. The scare tactic apparently worked.

The seven-time Grammy Award-winner now owns the land, which he purchased for $605,000 in 1994, free and clear. He razed the home on the property — now worth an estimated $1.15 million — back in 2005.

According to Prince’s representative, Kiran Sharma, “payment has been made” to the bank for the entire amount “about four or five days ago.”

This foreclosure threat was one of the many recent financial delinquencies the 52-year-old pop star has recently encountered.

In fact, Prince just paid $1.3 million for current and delinquent property taxes that were owed from 2009 and 2010. He was also behind on paying the tax bills in 2006 and 2008.

For more celebrity-related foreclose news check out our archive right here.

This is a big weekend for house hunters and investors in the Florida and Minnesota markets looking to take advantage of the best real estate deals in their areas.

REDC, one of the nation’s most reputable and successful real estate auction companies, will conduct public foreclosure sales on Saturday, Sept. 19, with bids on homes that start as low as $500.

Condominiums and townhomes, as well as single- and multi-family properties, are all on the block and up for grabs for ridiculously cheap prices.

You can bid in-person or online.

The process is safe, easy, and compliant with all legal regulations. And you don’t have to be an experienced real estate expert to purchase a property.

To check out the homes for sale this weekend in Florida and Minnesota, as well as to see when REDC will be coming to a city near you, click here.

Good luck!

We hope that you take advantage of these rock-bottom prices and easy financing at today’s low interest rates while they last!

Location: Hennepin County, Minnesota
City: Eden Prairie
Price: $314,900
Zestimate: $616,905
Difference: $ 302,005

Note: Other comparable listings in the area range from $601,960 to $746,670.

For more property details or to talk to a local real estate agent/broker about this listing CLICK HERE. To check out some of the other “Deals of the Day” feel free to visit our archive.

What’s the deal of the day? We comb through our nationwide database of more than 1.2 million distressed real estate listings to showcase some of the best investments available on our Web site each morning. These listings represent just a small fraction of the amazing investment opportunities available at Foreclosure.com. To find more bargains like the one pictured above search Foreclosure.com or sign-up for FREE Email Listing Alerts.