After years of dealing with court proceedings brought about over past due mortgage payments, it appears as though Lil Kim is letting her Bergen County mansion go.
Kim's transition to the greener pastures of suburban New Jersey began two decades ago when she moved into fellow Brooklynite and Junior Mafia Family boss Notorious B.I.G.'s Teaneck condo upon his passing in 1997. She would then purchase a home in the Englewood neighborhood for $450,000, only to flip that property for a $335,000 profit in 2005. By that time she had already settled into her home currently going into foreclosure.
Kim acquired the pristine white two-story Alpine mansion for $2.275 in 2002. By 2010 however, HSBC Bank had designated a foreclosure process to begin, noting that she had stopped making payments on the home's mortgage. In 2015 the rapper went into mediation with the bank, and at around this time, last year talks of a foreclosure were making headlines. Now Kim is reported to owe $1.9 million on the property, and the declaration of default has gone uncontested.
There is still a possibility Kim could save the mansion, but she'd have to come up with the money no later than 10 days after it goes up for auction, otherwise, she'll have 30 days to vacate, from that moment on.
Source: allhiphop.com
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