Lil’ Kim is reportedly facing some big money problems and may lose her home.
According to Bossip, the former Bad Boy emcee has fallen on hard times financially and has been fighting to keep her New Jersey mansion since 2010, when HSBC Bank sued her to foreclose on the house. Kim has been able to stave off that foreclosure until late last year when a judge put her and the home in default.
Lil’ Kim’s pad was purchased in 2002 for $2.2 million, with a mortgage of almost $1.6 million. She agreed to pay $9,935 monthly since then, but began missing those payments as early as 2009, and began to stop paying altogether at some point afterward. Kim and her legal team attempted to smooth things over with the bank back in March, but no agreement could be arranged.
News of the foreclosure ironically comes on the heels of exciting news for Kim. Diddy announced a Bad Boy Family Reunion tour this morning (May 16), which is slated to feature sets from the legendary rapper. Hopefully the tour checks will keep Lil' Kim in her home.
(Photo: Kevin Mazur/Getty Images for Yeezy Season 3)
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