90s Rapper Says She’s Saved Her Family Home From Sheriffs Auction
Lil Kim believes that she is finally out of the woods when it comes to her troubled finances.
The “All About The Benjamins” rapper has just asked a judge to let her out of her bankruptcy proceedings after she said she’s managed to save her $3 million New Jersey mansion from foreclosure and auction, according to court papers obtained by BOSSIP.
She said in court papers she only filed the bankruptcy to stop an impending Sheriffs Sale of her property.
“This case was filed to stay a foreclosure action with the purpose to allow me time to obtain a loan modification,” Kim said in an affidavit.
Kim has been fighting to save her home from the bank for almost 10 years when the bank sued her for defaulting on her $9,935 a month payments. But court records show she began missing payments in 2009, and at some point stopped paying altogether.
The mansion went into foreclosure in 2017 amid allegations that the rapper owed more than one million on the home.
Lil Kim filed for bankruptcy last May, admitting she owed more than $4 million to various creditors. She initially offered to sell the home, which she bought for $2.275 million in 2002, in order to pay some of the debts.
But the mom of one said she and her legal team have worked out a deal for her to make payments of nearly $11,000 a month to pay back her mortgage debt.
“Accordingly, I no longer desire or need the relief provided by Chapter 11 of the Bankruptcy Code and hereby request that my case be dismissed…” Kim wrote in an affidavit that was obtained by BOSSIP.
A judge has not yet ruled on Kim’s motion. Lil Kim is due back in court later this month.