Don’t Be Tardy for your loan repayment, y’all…
Kim Zolciak-Biermann and her former football-playing husband are going to lose their family’s expansive Georgia mansion. According to legal documents obtained by The U.S. Sun on the matter, the Bravo-lebrity and her ex-NFL star husband Kroy Biermann “failed to pay back” a $300,000 loan following the cancellation of her show Don’t Be Tardy. Shockingly, the couple had put up their home as collateral against the loan. And now that they missed paying down their debt, they are going to lose the estate.
Related: Ariana Biermann Celebrated Her 21st Birthday With A DUI Mugshot Cake?!
The outlet reports that a Notice of Sale Under Power has been levied against the home following the 44-year-old reality TV star’s inability to repay her debts. With it, the five-bedroom, 6.5-bathroom, 6,907-square-foot home has been foreclosed upon. Next, per the court docs, it will be”sold at public outcry to the highest bidder for cash before the courthouse door of Fulton County, Georgia.”
OMG!
The outlet did not report the reason the $300,000 loan was taken out in the first place. But the court documents clearly state its lack of repayment is the reason behind the bank moving in to foreclose and prep for a sale at auction. The filing states the foreclosure, which was first published back on October 6, was “because of, among other possible events of default, failure to pay the indebtedness.”
Now, per the legal docs, the plan is for the family’s home to go on sale at the Fulton County Courthouse “on the first Tuesday in November, 2022.” Jeez. Just like that!!
Over on Reddit, fans reacted to the news with a mixture of shock and suspicion. Some were understandably surprised at Kim’s apparent lack of loan repayment and its consequences, while others doubted the star’s ability to handle money:
“I am SHOOK by this even though I know I shouldn’t be lmao.”
“Same. I’d expect it from KZB, but would think that Kroy would keep an eye on their finances considering he has four kids to raise and disowned his family after marrying her.”
“A $300K loan is around $2k/month, how does she not have that at this point with even IG ads? He should have that as interest alone from his NFL money.”
“Where’s Big Poppa when you need him”
“She should’ve stuck with Big Poppa and stayed on RHOA”
“In addition to her early years on RHoA, she also had all those stupid ass tv shows on bravo for years. So much extra income they could have been saving.”
“Kroy should’ve been driving for Uber instead of playing chauffeur to his wife. They knew that show wouldn’t last forever.”
Holy moly…
A user on that site also posted a screenshot of the Notice of Sale Under Power which laid out Kim and Kroy’s loan issues. You can view that snap HERE. The U.S. Sun reports the home, which sits on a golf course, is currently valued at $2,535,285. Not a bad come-up from a decade ago when it was first sold to them for $880,000. But now, it appears they’re going to be forced to move out after the public sale takes place a little more than a week from now. Eep!
Related: Kim Is BEGGING Daughter Brielle Biermann To Have A Baby??
If you haven’t witnessed the home on her reality show, go on a house tour with Kim (below):
The mom of six hasn’t commented publicly on this legal reveal. However, on Monday, she shared a series of snaps to her Instagram account boasting of a trip to Nashville to hang out with country singer Jason Aldean and his controversial wife, Brittany Aldean:
Surely, they must have made for quite the foursome… Reactions, Perezcious readers?
[Image via Kim Zolciak-Biermann/Instagram]
The post Kim Zolciak Is Losing Her Massive Mansion To Foreclosure After Failing To Pay Back A Loan! Oof! appeared first on Perez Hilton.