Kim Zolciak and Kroy Biermann have finally reached an agreement for their foreclosure case. The duo gets an extended deadline of 90 days to sell off their home and pay back the indebted amounts, or else the duo will face an inevitable foreclosure.
Zolciak and Biermann have been facing critical difficulties in both their financial and marital lives. The ex-couple invited foreclosure upon themselves after they failed to pay back the loan of 1.65 million USD, which they took in 2012 to buy their lavish Georgia mansion. Zolciak and Biermann first faced the risk of foreclosure in early 2023 and have ever since been trying to sell their home.
Kim Zolciak and Kroy Biermann get 90 days to sell their home amid their financial crisis
Kim Zolciak and Kroy Biermann reached an agreement with Truist Bank, pushing the foreclosure of their home to 90 days. The extended 90 days of the deadline allows the ex-couple to sell off their home and repay their debts. If the duo fails to sell their home in the next 90 days and is unable to make the repayment then Truist Bank will be allowed to proceed ahead with the process of foreclosure.
All these financial troubles began for the ex-couple when they bought themselves a massive mansion in Georgia back in 2012, by taking a loan of 1.65 million USD. The mansion is set on 1.78 acres 25 miles north of Atlanta and includes 7 bedrooms and 11 bathrooms, 6 6-car garage, a heated pool, a wine cellar and a spa-equipped gym area. In 2023, the former couple was placed on foreclosure probation, forcing the couple to pay the mortgage amount every month for three consecutive months.
As per ET, the then couple failed to make the payment for July, stepping closer to foreclosure. In September 2023, Zolciak and Biermann received permission from the court to sell their house as they claimed to be “financially destitute” because of Zolciak’s “reckless spending habits and love for online gambling.”
Subsequently, the couple listed their house at a selling price of 6 million USD but after failing to get a buyer they reduced the selling price to 4.5 million USD. This is not it for the duo’s financial troubles as Zolciaks’ Range Rover has been ordered to be repossessed, whereas Biermann has been slapped with a lawsuit from BMW and Capital One.
Kim Zolciak and Kroy Biermann decided to end their marriage
Kim Zolciak and Kroy Biermann have faced more than just financial and legal troubles. Their marital life has also been filled with significant hardships, leading them to make the difficult decision to separate. In May 2023, after 11 years of marriage, they both filed for divorce, leveling multiple allegations against each other.
The duo though managed to get over their rough patches and reconciled for a brief time, until August 2023, when Biermann filed for divorce the second time. Zolciak however filed to dismiss the appeal of her ex-husband’s second appeal for divorce claiming that they still engage in “marital sex.”
However, Kroy Biermann seems stringent about getting divorced from Zolciak. As the duo receives a final deadline extension of 90 days, they have been overwhelmed with multiple burdens ranging from their financial and legal woes to their decision to get divorced from each other.
ALSO READ: Did Kim Zolciak accuse ex Kroy Biermann of Stealing Her Jewelry? Bodycam Footage Reveals
