Birdman is dealing with more financial issues.
After falling behind on a loan, Birdman may lose his $14.5 million Miami, Florida mansion. In 2015, Birdman borrowed $12 million from a company called EMG Transfer Agent, where he also put up his lavish home as collateral.
Apparently, Birdman failed to keep up with his payments, and has now defaulted on the loan. EMG has filed a lawsuit against the Cash Money boss, asking that his home be foreclosed so they can receive their money. In addition, EMG is asking for interest and late fees.
Birdman’s home, which was previously owned by Scott Storch, has 225-foot ceilings, nine bedrooms, 17 bathrooms, a movie theater, gym, spa, and an in-house massage room. It also features a below ground pool, an outdoor pool with a cabana, and 100 feet of waterfront and a private dock.
Originally, Birdman was trying to sell the home for $20 million, but lowered the selling price to $16.9 million in November.
