Lil’ Kim has some B.I.G. money issues as of late. Bossip is reporting that the Queen Bee is about to lose her $3 million New Jersey home.
The rapper born Kimberly Jones is facing some severe penalties for not making house payments.
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…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.
Click over to see official documents and pictures of Kim’s house.