*It looks like Bryan Williams, better known as “Birdman,” is having some cash flow issues.
Apparently, the Cash Money head man put his Miami mansion down as collateral for a $12 million loan and because he defaulted on the loan, it looks like Birdman’s about to lose his house. Woe.
According to court documents, Williams borrowed the $12 mil in 2015 from a company called EMG Transfer Agent. The rapper put up his Miami mansion — the one he bought in 2012 for $14.5 million — as collateral for the loan.
However, according to The Blast, Birdman defaulted on the loan and EMG wants the house foreclosed on so they can get their money. They are looking for their $12 mil plus interest and late charges.
The 9-bedroom, 17-bath mansion — which was once owned by producer Scott Storch — has 225-foot ceilings and features a below ground pool, outdoor pool with cabana, a movie theater, gym, spa, an in-house massage room, 100 feet of waterfront and a private dock.
As we reported earlier, in a desperation move, Williams recently put the home on the market for $20 million, but cut the price down to $16.9 million last month. It’s still up for sale, but no buyers as of yet.
*In other news, reports surfaced recently claiming Toni Braxton and Birdman had secretly gotten married. But a rep for the singer says the rumors are not true.
“Toni is dating,” Braxton’s spokesperson told Us Weekly before quickly pivoting to promote her client’s next release. “She has a new single called ‘Deadwood’ from her forthcoming album ‘Sex & Cigarettes.’ It will be released in early 2018.”
Braxton, 50, and the Cash Money Records cofounder, 48, first met 14 years ago after collaborating on the 1992 track “Baby You Can Do It.” The pair made their romance official at the BET Awards in June 2016.
Read/learn more about this story, HERE at EURweb.