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.
