Lil Kim has lost her multi-million dollar New Jersey mansion to foreclosure, according to sources.
She purchased them home back in 2002 for $2.275 million, but she struggled to make payments for the past few years.
She and the bank have been in mediation since 2015, but the judge’s latest ruling shows the rapper has been found in default. She owes $1.9 million on the home, including interest and taxes.
Her home will now hit the auction block, and Kim has up until 10 days after the auction to come up with the funds to reclaim ownership of the house. If she doesn’t pay up, she has 30 days to move out!
She also has a $126,805 IRS tax lien from 2015 that she has yet to repay.
Diddy can’t loan her a couple milli?
Property taxes n Jersey r no joke!!!! … welp
she got more surgery
If I was in a situation where I am at risk of losing my home due to taxes, income issues, whatever, I would put my house on sale. Either come out even or with a slight profit. I would never get anywhere near the foreclosure fire. You can also mediate unpaid taxes where the IRS reduces what you owe. Also, when you buy a million dollar home, you better have at least 40 to 50 K monthly to pay in taxes and insurance even if you bought the house outright. This is what happens when big celebs buy the 25 million dollar homes, then their celebrity fades away and the monthly costs of the house eats away at their fortune. They quietly list and get rid of them.
Her pride probably wouldn’t let her, but Kim should look into a modification or other programs NJ offer. Here in Cali they offer a program where if you are laid off, they will pay your mortgage for 18 months. I’m sure NJ has something comparable, but Kim is probably too proud, but then again it might be too late at this point tho.
Both me and my husband were laid off in 2010, a family member referred us to a reputable company that would help us get our property modified through our lender versus short sale/foreclosure. Thankfully they intervened because I tried multiple times to do it myself and Chase had me jumping through hoop after hoop, only to deny me. This happened no less than 20 times, SERIOUSLY. It was pure insanity. A few times in between we got Trustee Sale Letters from the bank. We got so frustrated, tired, scared we would lose our home, we finally contacted a company to help us and they did, but an individual at Chase was still trying to put us through the ringer by requesting we send her off the wall sht. I ended up having to call her manager, along with a few other people. When it was all said and done, not only was our modification approved and our payments were well within our budget, but they knocked off a big chunk of the principle as well. I always encourage eople who are on the verge of losing there homes to fight to the end.
Her case is pride before the fall.
Poor Lil’ Kim. She really does look as if Hollyweird took its toll on her. The price of fame.
Why can’t Puff help her out? I thought he was worth 700 mill
He’s not helping anyone out..How do you think he’s so rich, by not paying his artist..
He will get his in the end..
Hope things work out for her, another learning experience.
All those nosejobs and bleechint is where her money went where her rich white friends at
The rich white people tryna pay off they house too..fuck kim. u exactly riight all the money went to bleaching, 58 plastic surgueries, and of course fur coats
She’s a nasty fur hag ?
She couldn’t pay her bills, but she could keep getting plastic surgeries.. She was an attractive young lady naturally..She needs to stop taking those bleaching pills..She looks like a cartoon character..
Haven’t she learned her lesson from her other two mansions?
I’m I the only one that think that lil kim look like she had a stroke?
No… she looks like that kid from the 80’s movie MASK..
Why are these people spending money to look like some type of movie creature? I don’t get it. I never will.
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