Kim Zolciak and Kroy Biermann’s Georgia Mansion in Foreclosure Again as Bank Files Lawsuit Over Defaulted Loan
Kim Zolciak and Kroy Biermann’s Georgia mansion is facing foreclosure again after the Couple defaulted on their home loan once again. A development that arises just days after they announced the decision to call off their divorce.
According to court documents filed, Kim Zolciak and Kroy Biermann owe Landmark Community Bank a sum of $217,443.32. The amount is related to a Home Equity Line of Credit they obtained for their Georgia property. The bank alleges that the couple have failed to make the required monthly payments on the loan.
This is the second time the estranged couple has defaulted on this particular home equity loan.
In December 2013, the couple allegedly borrowed $300,000 from the bank and were obligated to make payments upon reaching the loan’s original maturity Date three years later. However, in August 2017, Kim Zolciak and Kroy Biermann extended the maturity date until the end of that year. Unfortunately, they failed to fulfill their monthly payment obligations, with the bank allegedly receiving their last official payment in October 2022.
In 2018, the bank established a 20-year payment plan with Kim and Kroy, with the final payment for the remaining balance scheduled for January 24, 2038. However, according to the paperwork, the bank declared that they had “terminated the Line of Credit,” in May 2023 due to the couple’s alleged default under the terms of the agreement. Furthermore, Kim and Kroy reportedly refused to accept a letter from the bank informing them of the termination.
Earlier this year, Kim Zolciak and Kroy Biermann faced legal troubles as reports emerged confirming that their mansion was in foreclosure. In February, court documents revealed that their property located on Manor Golf & Country Club in Alpharetta, Georgia, was scheduled for auction to the highest bidder a month later. The news attracted attention and raised concerns about the couple’s financial situation.
“The debt secured by said Security Deed has been and is hereby declared due because of, among other possible events of default, failure to pay the indebtedness as and when due and in the manner provided in the Note and Security Deed,” the documents read. “The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale, as provided in Security Deed and by law, including attorney’s fees.”
According to the paperwork, the foreclosure proceedings were initiated in August 2022 following Kim and Kroy’s default on their mortgage. The couple, who married in 2011, had previously denied speculations regarding their assets, but the documentation indicated otherwise.
“Ok you guys, my house had not sold for $257,000,” Zolciak-Biermann explained in a November 2022 Instagram Story while showing off their house. “If you guys think I would let my home that we’ve put millions and millions of dollars into go for $257,000, you’re an idiot, okay? For real.”
Ultimately, the auction of their property was canceled, and three months later, both Kim and Kroy filed paperwork to dissolve their marriage, marking the end of their decade-long Relationship.
A week after filing for divorce, Kim filed a motion asking that Kroy be required to undergo drug testing. She claimed that she had witnessed her husband “smoking marijuana, and she has serious concerns for the safety and well-being of their children,” while under his care. Kroy filed a request to have Kim psychologically evaluated, claiming that her gambling problem had left her “unable to properly care for the children.”
However, after a prolonged legal process, Kim and Kroy submitted paperwork on Friday, July 7, to withdraw their divorce filing, signaling their decision to reconcile and remain married.
Avigail is an Entertainment blogger at All About The Tea, who specializes in The Real Housewives of Atlanta and The Real Housewives of Potomac. Avigail has a background in marketing. She’s a Brooklynite living in the Bahamas, with a passion for travel, writing, reality TV watching, pop culture and spoken word.