OOOPS! Lil Kim is Behind On $10K Month Mortgage faces FORCLOSURE!
Damn Kimmy I’m still rooting for you but this is devastating! The Brooklyn Queen of Rap is on the verge of being tossed from her upscale Bergen County, NJ mansion after she stopped paying the mortgage,
HSBC Bank sued Kim – real name Kimberly Jones – to foreclose on the mansion back in 2010, but Kim managed to stave off the foreclosure until late last year, when a judge put her in default.
She bought the tony pad, which sits on two acres, in 2002 for $2.2 million, with a nearly $1.6 million mortgage, and agreed to make monthly payments of $9,935, according to court records obtained by the folks over at BOSSIP. But court records show she began missing payments in 2009, and at some point stopped paying all together.
Kim and her lawyers have since been trying to save the house through mediation with the bank. They met with HSBC and arbitrators in March, but couldn’t come to an agreement, so they’re all due back in for another mediation meeting next month. But unless they resolve the debt, or a judge delays the foreclosure, Kim’s mansion will be auctioned at a sheriffs sale, court records obtained by BOSSIP below.
HSBC wants full possession of the mansion, damages and their court costs paid. The mansion is now valued at more than $3 million documents courtesy of Bossip
Kim hasn’t commented yet but I'm she will soon. Stay tuned!
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