Rapper Young Thug may rap about all the money he has to spend, but apparently he’s not spending it on his mortgage!
[Sidebar: I will NEVER understand how people will spend money on everything but a roof over their heads. But I digress.]
The popular Atlanta-based rapper is in the news today for defaulting on the agreements of his home loan and now he’s being sued for over $2.2 MILLION dollars!
The company claims Young Thug, whose real name is Jeffrey Lamar Williams — owes more than $2.2 million in house payments on his Buckhead Heights mansion.
Court documents obtained by the AJC show that Young Thug — who had six songs crack the Billboard Top 100 in 2016 — agreed to a “balloon promissory note” on the home on Sept. 19, 2016.
[A promissory note with balloon payments helps document and clarify the terms of a loan that’s designed to have one or more larger payments due at the end of the repayment period.]
Documents show that Young Thug, 25, was scheduled to pay a total of $86,500 on Oct. 19; $86,033 on Nov. 19; $150,567 on Dec. 19; and then two more payments of $14,667 in January and February.
On March 19, he was supposed to pay a sum of $2,214,667 on the home, but Young Thug failed to make that payment, according to the lawsuit filed by Atlanta-based firm Knight Johnson, LLC.
VIDEO: Young Thug’s Buckhead Mansion
The remodeled home features an indoor pool and hot-tub. The extravagant Atlanta mansion boasts three levels and is chockfull of marble, swirly railings, indoor palms, and massive chandeliers.
Thugga’s mansion is over 11,000 square-feet and has six bedrooms, 11 bathrooms, a full bar, a theater room and a four-car garage.