Cardi B and Offset Mortgaged to the Hilt?

Over the weekend there were rumors that rapper Offset was facing cash flow problems in the wake of Cardi B's announcing their divorce [click here if you missed that]. 

Now there are rumors that the couple's real estate empire is mortgaged to the hilt...

From The Sun

CARDI B has to pay $3 million in the next two months to secure the mortgage on her luxury Atlanta mansion, The U.S. Sun can exclusively reveal.

The U.S. Sun can reveal the full extent of the financial situation she and Offset, 32, find themselves in, while Cardi has also announced she is pregnant with her third child.

Public documents show that they’ve taken out huge mortgages on their Atlanta and New Jersey properties worth $11 million in the past five years.

One of the loans, for $3 million, was only approved in October last year.

But the very short-term mortgage was just for one year and the debt has to be repaid by October 4, 2024 - in just over two months.

Although Cardi, real name Belcalis Marlenis, claims that the pad is now worth $7 million, Zillow estimates the value at $6.5 million.

The on/off couple has the aforementioned $3 million loan and when they purchased the property they borrowed $3.575 million from Wells Fargo - which is $6.575 million in total.

They also own an extravagant nine-bed, nine-bath pad in Tenafly, New Jersey, which they bought for $5.85 million in September 2021, and is now worth $6.1 million.

That was immediately saddled with a mortgage for $4,387,500 with another Tennessee lender, First Horizon Bank.

The deals have been done through trusts set up by Kim Kardashian’s former manager Lester Knispel and Kim and Cardis' current manager, Lou Taylor, a controversial figure who used to manage Britney Spears and had been accused of making millions off the star during her conservatorship.

The U.S. Sun has contacted Cardi's rep for comment but did not hear back.

Meanwhile, Cardi and Offset have also let other property investments slide.

Five years ago, they bought a piece of land and five properties on the same street in the Atlanta suburb of Jonesboro for $250,000 in total.

There was talk that the couple were going to put the lots together to build their dream home, but it appears they are still yet to make any real estate moves.

Instead, they racked up multiple state tax liens - worth anything from $200 to $1,300 between 2021 and 2022, which were eventually paid up in April last year and, in some cases, only last month.