Celebrity News,  Music

Birdman could lose his Miami Mansion for Defaulting on a 12 Million Dollar Loan

By: WTB BLOGGER 

Birdman‘s financial issues is out in the open again he usually has problems paying artist now he has problem paying his house, this came after reports that he defaulted on a $12 million loan he obtained in 2015. Because of this, the Cash Money mogul might lose his lavish Miami mansion in the process.

The Blast reported that Birdman received a loan from EMG Transfer Agent according to documents obtained by the outlet. The mansion, purchased in 2012 for $14.5 million, was previously owned by producer Scott Storch and put up as collateral.

According to court documents obtained by The Blast, Birdman borrowed the $12 million in 2015 from a company called EMG Transfer Agent. The rapper put up his Miami mansion for sale, the one he bought in 2012 for $14.5 million as collateral for the loan.

But Birdman defaulted on the loan and EMG wants the house foreclosed on so they can get their money. They are looking for their $12 mil plus interest and late charges.
The 9-bedroom, 17-bath mansion — which was once owned by producer Scott Storch has 225-foot ceilings and features a below ground pool, outdoor pool with cabana, a movie theater, gym, spa, an in-house massage room, 100 feet of waterfront and a private dock.

The outlet adds that Birdman put the home on the market for $20 million but dropped it down to $16.9 million in November.

Lil Wayne might never get paid now, sorry for the wait Weezy.

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