Lil’ Kim’s $3 Million Mansion Could Go Into Foreclosure
According to Bossip, Kim has been able to delay foreclosure on her home on several occasions. The 40-year-old rhymer bought the mansion in 2002 for $2.2 million with a $1.6 million mortgage. She agreed to pay nearly $10,000 a month on the home.
However, the "Lighters Up" rapper has been missing payments since 2009. Through the years, Kim and attorneys have saved the house through various agreements with HSBC Bank.
Kim, whose real name is Kimberly Jones, will have to return to court for a mediation hearing next month to discussed the overdue mortgage payments. HSBC wants the full payment on the mansion, plus damages and their court fees paid. If they don't come to an agreement to resolve the debt, Kim could lose her mansion in a sheriffs auction.
Hopefully, Lil Kim's participation in the Bad Boy Family Reunion concert on May 20 and 21, in Brooklyn, N.Y., will help her pay back the bank. The last thing we want to see is Kim being homeless. Especially, since she is a mother of a 2-year-old baby girl, Royal Reign.
Attorneys for Lil Kim had no comment on the matter.