Kim Zolciak and Kroy Biermann stay losing. As fans and detractors know, the two have been in the throes of a messy divorce for about a year now. News of the divorce came shortly after news of the couple’s poor financial status.
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As it turned out, the former Real Housewives of Atlanta stars owed over $1 million to the IRS. And that was only a portion of the financial troubles facing the estranged pair.
Through it all, at least they had their house. The McMansion served as their living space, even as they tried to sell it to recoup some losses. Now, unfortunately for the pair, it might not be their house anymore.
Kim and Kroy could still maintain home ownership
Yikes. More bad news for Kim and Kroy. Truist Bank claims they have the right to foreclose on their mansion because the couple defaulted on their mortgage. #RHOA
If you haven’t been keeping up, Kim and Kroy have been stalling to keep their mansion but the bank has had enough!… pic.twitter.com/bT0H8X2avY— Bye Wig Hello Drama (@nosmokenomore) January 12, 2024
On April 29, TMZ released information from legal documents on Kim and Kroy’s home. The documents suggest that Truist Bank is ready to reclaim ownership of the home. The bank will initiate a non-judicial foreclosure process on or after May 3. Note that Kim and Kroy won’t have to move out on May 3, but they’d better start getting their things in order.
In January, we reported that Kim and Kroy were disputing with the bank over the home. Kim and Kroy were still hoping to sell the house at that point (and probably still are). But even at a reduced price of $4.5 million, no one has offered to buy. So, since Kim and Kroy defaulted on their mortgage, the bank is within their rights to take the house and cut their losses.
However, according to TMZ, Kim and Kroy could still save their living space. The outlet reported that their bank is willing to hear them out so long as they bring themselves back to court. So, with the door open, the former Don’t Be Tardy stars have an opportunity. But knowing them, the likelihood that they take the bank’s offer is minimal.
