Is Cardi B Broke? Singer May Lose Atlanta Mansion If She Doesn't Pay $3M In 8 Weeks: Report
Cardi B reportedly faces losing her mansion in Atlanta, Georgia, if she doesn't shell out $3 million for its mortgage by October.
Before she filed for divorce from husband Offset and announced her third pregnancy, rumors surfaced on social media earlier this week that Cardi could no longer afford payments for her and the Migos member's 22,000-square-foot Atlanta home.
The "WAP" hitmaker quickly shut down this speculation, claiming on X, formerly Twitter, that the home they bought for $5 million in 2019 was now worth $7 million.
However, The U.S. Sun reported that Cardi and Offset would end up spending $6.575 million in total for the mansion once they pay off all their loans.
According to public documents cited by the outlet, the couple took out a $3 million loan for the Atlanta property that was approved in October 2023.
The short-term mortgage, however, was for only one year and needs to be repaid in full by Oct. 4, the documents reportedly showed.
The outlet reported that Cardi and Offset also borrowed $3.575 million from Wells Fargo when they purchased the house in 2019. The length and deadline of this debt are unclear.
However, these two mortgages add up to $6.575 million for a home currently valued by Zillow to be worth $6.5 million.
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In addition to these mortgages, Cardi and Offset took out a $4.4 million mortgage with Tennessee's First Horizon Bank when they bought their residence in Tenafly, New Jersey, in 2021.
The value of the $5.85 million property has since gone up to $6.1 million, according to the outlet.
The loans are under the names of trusts created by Cardi's current manager Lou Taylor and Kim Kardashian's former manager Lester Knispel, according to The U.S. Sun.
A Celebrity Net Worth estimate places Cardi's current net worth at $80 million -- the bulk of which is attributed to the reported $50 million valuation for her music catalog rights.
In addition to her record sales, concerts, performances, and endorsement deals, Cardi reportedly rakes in millions as an OnlyFans creator.
According to Statista, she was making $9.34 million per month from the subscription-based platform by 2021.
As of August 2022, Cardi reportedly earned $46.7 million from her OnlyFans, where she charges $4.99 a month from her subscribers.
However, speculations that Cardi was broke began circulating on social media this week after a now-deleted post shared by Icy Scoop News on X alleged that she was "facing foreclosure" and struggling to make payments on her Atlanta home.
Cardi immediately hit back at the rumor, posting on X Monday: "LMAOOO You bum b***hes wish... me and offset bought that house in 2019 for 5 million now it's worth 7. Check the Atlanta market."
She also made it clear that they have no plans to sell the mansion at this time and that if she ever decided to let go of it, she would only sell her half to Offset.
"Throwing salt on my home?" the "I Like It" rapper added. "Hating bad."
Cardi also showed off her mansion in a video she shared Tuesday, saying, "Good morning from my second home!"