The reality TV star and her estranged husband are facing the possibility of losing their luxurious Atlanta home to foreclosure amidst a tangle of unpaid debts and a troubled real estate market.
- Apr 30, 2024
AceShowbiz - Amid financial troubles, former "The Real Housewives of Atlanta" star Kim Zolciak and her estranged husband Kroy Biermann are facing the risk of foreclosure on their Atlanta mansion.
According to court documents obtained by PEOPLE, Truist Bank has issued a warning of foreclosure and given the couple until May 3 to respond. If they fail to take legal action, the bank will initiate a non-judicial foreclosure proceeding. The couple's bank lender is giving them until May 3 to save their home.
The 15,000-square-foot mansion, which was initially listed for $6 million in October 2023, has been on the market with a reduced price of $4.5 million. However, the couple has been struggling to find a buyer.
The mansion has faced foreclosure twice before, in 2014 and February 2023, but the couple was able to resolve the issues both times. However, this latest threat comes amid a messy divorce and mounting financial problems.
Kim and Kroy reportedly owe over $1 million to the IRS, $230,000 in a bank lawsuit, and $150,000 in unpaid credit card fees. Kim has also recently had her car repossessed.
In an attempt to address their financial situation, Kim sold her skincare brand and listed designer clothes for sale online. Despite their efforts, the couple's debt has continued to accumulate.
The specified date of May 3 does not mandate immediate eviction for Kim and Kroy, but it signifies the start of legal procedures that could eventually lead to foreclosure. The couple has yet to make a public statement regarding the situation.
