The pressure continues to mount on Kim Zolciak and Kroy Biermann to sell their family home.
The estranged reality star couple, who are going through a contentious and debt-ridden divorce, have dropped the listing price of their Georgia mansion once again. The couple’s desperation to find a buyer came after a financial institution moved to foreclose on the property.
Kim Zolciak & Kroy Biermann Lower Home Price Tags To Attract Buyers
Originally listed at $6 million, the price of Zolciak and Biermann’s home was reduced to $5.5 million and is now down to $4.5 million. Despite the price cut, there are still no significant takers for the property.
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As fans already know, the two are struggling financially, facing multiple lawsuits and dealing with the Internal Revenue Service [IRS] research. Selling their home could potentially ease their financial stress, but they are having difficulty finding a buyer.
According to reports, the ongoing challenge is compounded by the fact that property values in the area are lower than their initial listings, making the recent price drop a strategy to attract potential buyers.
Financial struggles also affected Zolciak and Biermann’s personal relationship. Body cam footage from November revealed a heated argument in which Biermann blamed his estranged wife for their financial issues and accused her of unfaithfulness.
Although both parties have calmed down enough to continue sharing living space, it is unclear whether their relationship has fully recovered. Despite their common issues, Zolciak made sure their children received Christmas presents, showing a commitment to the family amid their financial woes.
As for their original price drop, court documents show Biermann redoubled efforts to sell the 9,407-square-foot property. Citing the dire financial situation for him and his on-again-off-again partner, the former Atlanta Falcons player stated,
“The only asset they currently have with equity is the matrimonial home. The mortgage is held in the petitioner’s name. However, it is set to be seized in November.”
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The paper continued: “Current living conditions are unsustainable and affect the mental and emotional health of minors. If the marital home is sold, it will provide both parties with enough income to secure their home, thereby removing the children from a toxic environment.”
Biermann & Zolciak Mansion May Be Foreclosed By Banks
Amid the difficulty of finding a potential buyer, reports revealed that Truist Bank made allegations that Zolciak and Biermann defaulted on their mortgages, giving the bank “the right to foreclose” on their mansion. Although their divorce was public and contentious, the couple still lived in the family home.
Notably, Biermann occupied the master bedroom, while Zolciak lived in the nanny’s suite and the basement. Although the bank acknowledged the ongoing divorce proceedings, it maintained that the proceedings had no effect on its foreclosure rights.
In October, the celebrity couple asked a judge to intervene to stop the bank’s foreclosure auction, aiming to sell the property independently at a reduced price of $5.5 million. Truist Bank, according to a legal filing, voluntarily postponed the auction in November.
However, due to Biermann and Zolciak’s inability to sell the property independently, the bank has now expressed impatience and plans to move forward with using foreclosure to collect the debt.
That wasn’t all the trouble they faced when Chase Bank started a lawsuit against Zolciak for an outstanding balance of $4,624.02 in December. The bank presented account statements as evidence, revealing that the reality television star had been behind on credit card payments since November 2022.
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Chase Bank insists that accumulated outstanding balances prompt them to seek payment. Additionally, the bank filed a lawsuit against Biermann for a separate credit card account, claiming he owed about $13,000.
In an unrelated case, the former NFL star faced judgment when Discover sued him over alleged outstanding balances that had reached $11,275.45. Unfortunately, Biermann did not formally address the lawsuit, resulting in a default judgment requiring him to pay the entire amount along with $111 in court costs.
As previously mentioned, Zolciak and Biermann are involved in a series of lawsuits, including one from Biermann’s legal representatives. In the filing, attorneys assert that the former Montana college football player owes the firm $801.01 in unpaid fees and services.
The lawyer argued that the amount could increase with a monthly interest rate of 1.5% applied to all outstanding balances until the firm was fully compensated for the legal services rendered.
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Source: thtrangdai.edu.vn/en/
