Cash Strapped Lil Kim Could Lose Her New Jersey Mansion – Details
Lil Kim is in danger of losing her New Jersey mansion.
The Blast website is reporting that she has serious money problems.
According to documents in Lil Kim's bankruptcy she failed to make her June 1 mortgage payment of $10,155.47 on her mansion in Alpine, NJ.
The performer may have been letting the property fall into foreclosure, but once she filed for bankruptcy it halted all the proceedings.
However, creditors in the bankruptcy, wants to auction off the house and use the money to help pay off her debt.
Lil Kim filed for Chapter 13 bankruptcy last month with liabilities towering over $4,084,841.60 and assets in $2,573,300.
And to make matters worse se owes $1,845,451 in back taxes alone.
She stated she would pay $5,500 per month for 60 months that would total $330,000.
However, the creditors want to sell the home as it is worth around $2 million and would be offset against her debts.
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