BOSSIP Exclusive: Lil Kim’s $3 Mill Manse In Foreclosure
BOSSIP Exclusive: Lil Kim’s $3 Mill Mansion In Foreclosure
“Ladies Night” Rapper Behind On $10K A Month Mortgage
Lil Kim’s got more problems than her ever-changing appearance to worry about.
The pint-sized rapper is on the verge of being tossed from her upscale Bergen County, NJ mansion after she stopped paying the mortgage, BOSSIP can reveal.
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 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 show.
HSBC wants full possession of the mansion, damages and their court costs paid.
The mansion is now valued at more than $3 million.
The mother of one has been in the news in recent weeks looking drastically different from her 1990s heyday. Kim’s skin appears several shades lighter and the shape of her nose, eyes and cheeks made her look almost unrecognizable.
And she’s due to take the stage next week alongside P. Diddy and Jay-Z for a tribute concert to the Notorious BIG at the Barclays Center in Brooklyn.
We’ve reached out to Kim’s lawyer for comment.
Kim’s pending foreclosure is the latest in a string of money problems for the rapper. Last year, the IRS slapped a federal tax lien for $126,805 in back taxes for her income from 2010 through 2013.
