Timbaland Stops Foreclosure On $2.5 Million Condo
Timbaland has saved his Miami condo from going into foreclosure after being billed by the state for over $27,000 in condo assessments.
News of Timbo's impending foreclosure was first reported by The Detroit News who obtained Timbaland, real name Timothy Mosley's, public records.
According to the news outlet, the producer failed to pay for assessments and his condo board was threatening to seize the home.
The Murano Grande at Portofino Condominium Association Inc. is said to have filed an $18,883 assessment lien against Timbaland on Aug. 10 with the Miami-Dade County Clerk.
According to the lien, he owes quarterly condo assessments and late fees from 2010 which eventually reached up to $27,118.
To resolve the debt, the condo association's lawyer filed paperwork to foreclose on the lien and have the home sold.
Upon hearing the news however, Timbaland immediately paid off the debt.
A Timbaland insider tells The Detroit News,
“As soon as this was brought to our attention, it was paid immediately.”
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