mortgage

Diddy Reportedly Owes Nearly $100 Million To The Bank

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The news relating to Diddy recently has turned into a full on avalanche as one thing after another manages to go wrong. It first began last year when Cassie filed the first of a barrage of lawsuits against the rap mogul. Those allegations piled up one after another but the level of potential threat was raised significantly earlier this week. That came when police raided two of Diddy’s properties in Los Angeles and Miami.

While he wasn’t present himself for the raids they’ve been the biggest story in hip hop this week. The actual houses themselves are the subject of a newly emerging story. Diddy reportedly owes the banks over $100 million spawning from eight different mortgages taken out on his three houses. The total value of what he borrowed is reported to be more than $140 million. Reportedly the first loan that needs to be settled is one for $23 million that’s due in 2029. Check out the full report below.

Read More: Diddy’s Rape Accuser Was 16 At The Time Of Alleged Assault

Diddy May Owe More Than $100 Million

Overnight Diddy didn’t seem overly worried by the ongoing circumstances. Despite everything he’s dealt with this week he still got out to relax, hitting up Top Golf with his twin daughters. He flashed up a pretty nonchalant peace sign to cameras when they caught up with him outside. The rap mogul himself has been pretty quiet even as seemingly everyone in entertainment fights to get their thoughts out on the proceedings online.

The situation has also forced Yung Miami to play defense for herself. First she had to deny any involvement in the raids themselves when fans on Twitter called her an informant. Then her legal team had to pull up some receipts after she was added to and amendment to producer Lil Rod’s lawsuit against Diddy. What do you think about Diddy potentially owing more than $100 million to banks from mortgages taken out on his houses? Do you think he’s actually in possession of the fortune he claims to have? Let us know in the comment section below.

Read More: What Is Diddy’s Best-Selling Album?

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Kim Kardashian Took Out $48 Million Mortgage To Purchase Malibu Mansion

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Kim Kardashian reportedly took out a $48 million mortgage in order to purchase her new $70 million Malibu mansion. Moreover, she used Britney Spears’ controversial ex-business manager Lou Taylor to make the deal and borrowed funds from investment bank BNY Mellon. Furthermore, the company offers custom mega-mortgages for incredibly rich clients, and the reality TV star closed the deal in September of last year according to documents obtained by the US Sun. While the mortgage’s terms are unclear, the national average rate on the week of the sale was 5.56% on 30-year fixed mortgages with jumbo balances, based on reports from the Mortgage Bankers Association.

In fact, that loan rate and structure equals monthly payments of over $278,000 before taxes and insurance. However, these payments could fluctuate up or down depending on differing terms of the deal. Regardless, the previous owners of this Malibu destination were Cindy Crawford and husband Rande Gerber. Moreover, the stunning home contains four bedrooms and five-and-a-half bathrooms within over 7,000 square feet. Interestingly, it’s about 14 miles away from ex-husband Kanye West’s recently purchased $57 million property.

Kim Kardashian’s $70 Million Malibu Mansion

According to mortgage documents referenced by the Sun, Lou Taylor helped the 42-year-old out with the purchase. Moreover, the company used to complete the purchase has the same address as Taylor’s management firm. For those unaware, Taylor received much scrutiny for his handling of Britney Spears’ conservatorship battle. Still, the company denied claims from the singer that they misused her $60 million fortune during her father’s 13-year conservatorship. Still, the Kardashians worked closely with Taylor before to handle much of their business deals, acquisitions, and other endeavors. It seems that their working relationship remains, even when considering Spears who was once much closer to Kim.

Meanwhile, Kim acquired the Malibu mansion through a reportedly off-market private transaction, with Jade Mills of Coldwell Banker also overseeing the sale. Moreover, this purchase marks the sixth most expensive real estate transection in Southern California in 2022, according to the Los Angeles Times. Given Kim’s pockets, it’s not surprising to see her dropping bags on luxury destinations. Regardless, log back into HNHH for the latest news and updates on Kim Kardashian.

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