Lil Kim has successfully saved her New Jersey mansion from being foreclosed on but a judge told the rapper this is the last chance she will be given.
According to court documents obtained by The Blast, the judge presiding over Kim’s bankruptcy sided with the rapper and denied one of her creditor’s attempt to foreclose on her home.
Kim was ordered to immediately pay her creditor $32,297.41, which will cover three $10,155 payments that were due, plus interest and legal fees.
She will have to submit proof of home insurance and beginning next month, Kim will pay $10,155.47 a month.
The judge warned Kim if she misses one payment, the creditor has the right to take her home and sell it off to the highest bidder.
As The Blast first reported, Lil Kim failed to make her June 1 mortgage payment of $10,155.47 on her mansion in Alpine, New Jersey. A creditor in her bankruptcy asked permission to auction off the house and use the money to help pay off her bankruptcy debt.
They demanded the judge to allow them to seize the home and sell it off to the highest bidder, explaining the property is worth at least $2 million.
Kim pleaded with the judge to not grant their motion and said she was committed to saving her home and reorganizing her debts.
Lil Kim filed for Chapter 13 bankruptcy earlier this year, owing $4 million to creditors. She owes $1,845,451 in back taxes alone.