Kim Zolciak and Kroy Biermann recently postponed the foreclosure of their home by negotiating a deal with their bank. Some court documents revealed that Truist Bank has agreed to halt foreclosure proceedings for 90 days.
This arrangement gives the separated couple more time to sell their property without the threat of foreclosure.
Kim Zolciak and Kroy Biermann Delay Foreclosure on Their Home
If Zolciak and Biermann fail to sell the home and repay the bank by August 26, 2024, the bank will resume foreclosure proceedings. Moreover, the order explicitly states that the couple will not be allowed to interfere with or prevent the foreclosure if the unexpected happens.
How did the couple even get here, you ask? Zolciak and Biermann’s financial troubles started last October when they tried selling their house in Milton, Georgia, for $6 million. Sadly, they were unsuccessful. Now, they are battling huge financial crises, including debts owed to some creditors and the IRS.
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More Details About Kim Zolciak and Kroy Biermann’s Foreclosure
Notably, the Georgia property has been a focus in the couple’s contentious divorce, with a judge splitting the residence to reduce conflict. Sadly, this arrangement has been pretty unsuccessful. This last spring, Zolciak claimed Biermann stole her phone and locked himself in the primary bedroom, an incident that was captured on body cam video.
With all these issues, it’s clear that the couple is anticipating selling their property, starting anew, and staying far from each other.
Kim Zolciak and Kroy Biermann’s Home Listed for $4.5 Million Amid Foreclosure Threat
In April, attorneys representing Truist Bank gave Kim Zolciak and Kroy Biermann until May 3 to address their foreclosure situation in court. Currently, the estranged couple has their home on the market for $4.5 million.
This follows several price adjustments: they initially listed the property for $3.2 million in early October, then raised it to $6 million a few weeks later. After failing to attract customers, they significantly reduced the price again in January 2024.
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The said home is an expansive 15,700-square-foot residence located 25 miles north of Atlanta. It sits on 1.78 acres and boasts seven bedrooms and 11 bathrooms. Additionally, it offers scenic views of a lake and a golf course and includes luxurious amenities such as a heated pool, a six-car garage, a walk-in wine cellar, and a gym, complete with a spa area.
Kim Zolciak and Kroy Biermann’s Marriage
Kim Zolciak, 46, has often showcased her opulent home on Instagram, highlighting unique features like the children’s arcade room with hand-painted murals and splatter-print carpet. Additionally, she has flaunted a private basketball court where her 11-year-old son, Kash, is seen playing.
Zolciak and Biermann have been married for 12 years and share six children. In addition to Kash, they have 10-year-old twins Kaia Rose and Kane Ren and 13-year-old son Kroy Jagger. Zolciak’s two older daughters, Brielle, 27, and Ariana, 22, were legally adopted by Biermann in 2013.
Kroy Biermann, 38, filed for divorce from Zolciak last August, and the couple listed their house for sale almost two months later. Their separation was initially reported in May 2023. Then, Zolciak described their marriage as “irretrievably broken with no hope of reconciliation.” Despite this, they attempted to reconcile in July for the sake of their children.
In October 2023, a source revealed that the couple was still cohabitating in the same house despite their split.
Controversy Surrounds Kim Zolciak and Kroy Biermann’s Georgia Mansion
Before their divorce, the couple’s Georgia mansion has been a subject of discourse. In February 2023, the property was placed in foreclosure, as indicated by a notice from Fulton County. Truist Bank intended to auction the home after the couple defaulted on a $1.65 million loan in 2012.
Despite the foreclosure notice, Zolciak maintained that the situation was merely a “misunderstanding” with the bank. As a source puts it, “She is telling everyone this is a misunderstanding and is being sorted out.” The source indicated that Zolciak was not planning to move.
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