Kim Zolciak and Kroy Biermann Face Lawsuit After Allegedly Defaulting on Home Equity Loan: Details

usmagazine.com:

Kim Zolciak-Biermann and Kroy Biermann are facing a lawsuit after allegedly defaulting on a home loan — days after calling off their divorce.The couple owe Landmark Community Bank a total of $217,443.32 after taking out a Home Equity Line of Credit for their Georgia property, ​according to court documents obtained by Us Weekly on Tuesday, July 11.

The bank claimed that Zolciak-Biermann, 45, and Biermann, 37, failed to make monthly payments on the loan.The pair allegedly took out $300,000 from the bank in December 2013 and were expected to make payments once it reached its original maturity date three years later.

In August 2017, Zolciak-Biermann and Biermann extended the maturity date to the end of the year. They ultimately failed to meet their monthly dues — with their last official payment allegedly received in October 2022.In the paperwork, the bank noted that they “terminated the Line of Credit” in May 2023 because the duo “defaulted under the terms” of the agreement.

Zolciak-Biermann and Biermann also allegedly “refused to accept” a letter from the bank notifying them of the termination.Earlier this year, Zolciak-Biermann and Biermann made headlines for their legal woes when Us Weekly confirmed their mansion was in foreclosure.