Kim Zolciak and Kroy Biermann Face Lawsuit After Allegedly Defaulting on $300,000 Home Equity Loan
their divorce may have been called off, Kim Zolciak-Biermann and husband Kroy Biermann still face legal woes.The pair are being sued after allegedly defaulting on a $300,000 home equity credit line taken out for their house in Alpharetta.According to court documents obtained by ET, Landmark Community Bank is suing the couple, and claim that they owe a grand total of $217,443.32, and have failed to maintain their monthly payments on the loan.The loan was originally taken out in December 2013, and the pair were expected to begin repaying the amount on the original maturity date of December 2016. However, the pair had allegedly not done so, and worked with Landmark Community Bank, in August 2017, to extend the maturity date to December of that same year. After a further extension, it was agreed upon that the couple would begin their repayment period in February 2018, and cough up $1,132.46 per month until their target payoff date in January 2038.According to the lawsuit, the couple allegedly defaulted on the loan when they stopped making monthly payments as agreed upon.