Mary J. Blige's Money Problems Worsen As Eviction Notice Placed On Her Door

Mary J. Blige

Cash strapped R&B singer, Mary J. Blige, has been hit with two lawsuits from banks regarding $2,500,000 in loans she defaulted on. She has been slapped with a tax lien of $900,000. Her charity is also under investigation for theft of donated funds. The most recent development in her financial problems comes courtesy of an eviction from the luxury New York apartment building, the Ashely, where units rent for $10,000 and higher per month. It is being reported she has not paid her rent in one year.

Mary J. Blige's house in New Jersey 

Blige also purchased a $13,000,000 Saddle River, New Jersey mansion 5-years ago that she is trying to unload. Blige placed the Saddle river mansion on the market 2-years ago adding too much to the asking price, resulting it the house  languishing with no buyers, as property taxes of tens of thousands of dollars per year accrue.

The Ashley

At the current rate, it is only a matter of time before Blige defaults on the mortgage of the Saddle River house and loses it at auction, where all of her creditors liens and financial judgments will be satisfied. In fact, her creditors can force a foreclosure under the law. As stated in the column two days ago, Blige should sell the property, which will free up her cash flow, minimize the damage to her credit report and satisfy her other outstanding debts, before it is too late. It is time to downsize and there is no shame in that.

Mary J. Blige's Money Woes Continue As She Is Hit With A $900,000 Tax Lien

 

Mary J. Blige: I owe how much?

 

The money problems of R&B songstress, Mary J. Blige, continue to mount in a very noticeable way, as it is being report she has been hit with a $900,000 tax lien. This comes on the heels of lawsuits by two banks stating Blige owes millions of dollars in two loans she has defaulted on.

 

Mary J. Blige's costly house in New Jersey

The singer's sprawling 8-bedroom mansion in Saddle River, New Jersey, which she purchased for $12,300,000.Blige five years ago, continues to languish on the market with no buyers. Purchasing and maintaining such a large property (mortgage payments, taxes, insurance, cleaning, landscaping) has definitely drained Blige's resources, pushing her to the brink of financial collapse. If Blige can successfully sell her home, many of her money problems would be erased. 

Mary J. Blige Facing Serious Money Troubles And Bank Lawsuits

Mary J. Blige

R&B singer, Mary J. Blige, is facing a personal financial crisis. Three months ago, Blige was sued for $2,200,000 by Signature Bank in New York for defaulting on a $2,000,000 loan. Months prior to that incident, Blige was heavily criticized for misappropriating charity money donated to create scholarships for students. Her charity is currently under formal investigation. This week, Blige has been sued over a $500,000 loan she has defaulted on as well.

Five-years ago, Blige purchased a large 8-bedroom, 18,000 square foot mansion in Saddle River, New Jersey for $12,300,000.Blige had to place her property up for sale three years after moving in, listing the home at the inflated price of $17,000,000. She then dropped the asking price to $13,900,000. However, Blige's home has been on the market for 2-years with no takers and it's due to the price.

 

Mary J. Blige's house in New Jersey 

Blige bought the mansion at the end of the property boom in America right before the financial crisis hit. Property values have since decreased, creating a significant amount of negative equity in the property. Her neighbors include Russell Simmons, Chris Rock, Beyonce and Jay-Z. Like Blige, Beyonce and Jay-Z bought into the neighborhood during the property boom and their property also suffers from negative equity.