Source: Prince Williams / Getty
No Money.. Mo Problems for The Queen Bee Lil’ Kim. The former protegee of The Notorious B.I.G is apparently facing some financial hardship and on the verge of being kicked out of her New Jersey home.
Kim is being sued by HSBC Bank in attempt to take control of the home that Kim started having trouble paying on back in 2010. The mortgage company took Kim to court six years ago, but the rapper managed to keep the home until last year when a judge found that she defaulted on the loan.
She purchased the home in 2002 for $2.2 million and agreed to pay monthly payments of $9,935 according to court documents, but she began missing payments in 2009.
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.
HSBS is requesting a judge give them full possession of the home which is valued at more than $3 million now.
