All fields are required.
Monday, June 6, 2016
Celebrity rap artist Lil Kim is facing a number of financial challenges, which includes possible foreclosure on her mansion in Alpine. Kim will participate in Sean Combs’ upcoming Bad Boy Family Reunion tour, but as of yet, the gig will not be enough to help her out of the bind she is in, so the issue is headed to mediation.
HSBC Bank began foreclosure proceedings against Kim six years ago. The process dragged on for half a decade and the bank recently asked a judge to put the hip hop artist in default. According to reports obtained by the media, Lil Kim and the bank are in the process of mediation which is expected to continue into June. Should she default, the mansion will be sold at auction.
The home was purchased by Kim in 2002 for more than $2.2 million after moving to a condo owned by former boyfriend Biggie Smalls after his death in 1997. Records show Kim bought a townhouse in Englewood for nearly half a million, which she sold for almost double the amount in 2005. She was then sentenced to a year in prison for lying to a grand jury about the involvement of a friend in a 2001 shooting. In addition to the potential foreclosure, Kim also owes a more than $126,000 tax lien from the IRS.
Lil Kim is one of many celebrities living in the Alpine area, many of whom have sold their homes in recent years and moved to other locations.
Tuesday, May 24, 2016