Kroy Biermann (left) and Kim Zolciak (right) in October 2022.Photo:Paras Griffin/GC Images
Paras Griffin/GC Images
Kim Zolciakand her husbandKroy Biermannare facing another lawsuit after allegedly defaulting on a Home Equity Line of Credit for theirAlpharetta, Georgia home.
After the couple, whocalled off their divorce last week, first opened a Home Equity Line of Credit amounting to $300,000 with the bank in December 2013, the Biermanns were expected to begin making payments on the loan once it reached its original maturity date in Dec. 2016.
In Aug. 2017, they executed a Modification Agreement which extended the maturity date to Dec. 2017.
A Second Modification Agreement was later made in Jan. 2018, in which the Biermanns agreed to make monthly payments of $1,132.46 after acknowledging they still had an amount of $271,788.61 to pay off. The couple were expected to make their first monthly payment in Feb. 2018 and finish paying off the loan in Jan. 2038.
Kim Zolciak-Biermann at her Alpharetta, Georgia mansion.BRAVO
Despite agreeing to the terms, Zolciak and Biermann reportedly failed to meet their monthly dues. Their last official payment was allegedly recorded in Oct. 2022. Because the pair “defaulted under the terms” of the agreement, the bank “terminated the Line of Credit” in May 2023, the document states.
A letter notifying the Biermanns of the termination was delivered according to United States Postal Service tracking results, but the couple “refused to accept said letter” and have not attempted to refute the bank’s claims, the bank claims in the document.
RadarOnline.comfirst reported news of the lawsuit.
Kim Zolciak and Kroy Biermann’s son Kash playing basketball at their private court in May.Kim Zolciak-Biermann
Kim Zolciak-Biermann
The notice stated that the home would be put up for public auction as a result of the Biermanns allegedly defaulting on a $1.65 million loan they took out in Oct. 2012.
Soon after news of the foreclosure, a source close to Zolciak revealed to PEOPLE thatthe star was unconcerned with thefiling, calling it a “misunderstanding.”
A source close to the couple told PEOPLE that the pair had taken “action to clear up” the issue, and theauction was subsequently canceled.
Kroy Biermann (left) and Kim Zolciak (right).Charles Sykes/Bravo/NBCU Photo Bank/NBCUniversal via Getty
Charles Sykes/Bravo/NBCU Photo Bank/NBCUniversal via Getty
Zolciak and Biermannfiled for divorce in May2023, with the Bravo star stating that their 12-year marriage was “irretrievably broken with no hope of reconciliation.”
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Last week, a source confirmed toPEOPLEthat they changed their minds, stating the couple are “getting along and calling off the divorce," adding that “they’re trying to make it work for the kids.”
The two share three children:Kroy “KJ” Jagger Jr., 11, Kash, 10, and twinsKaia Rose and Kane Ren, 9. Zolciak also has two older daughters from a previous relationship,Brielle, 26, andAriana, 21, who Kroy legally adopted.
source: people.com
