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Birdman‘s financial situation continues to spiral out of control, with new reports from The Blast that he’s had to surrender the keys to his $12 million Miami mansion.

The mogul defaulted on a loan from EMG Transfer Agent, which led to some scorn by fellow Florida magnate Rick Ross, and the mansion was subsequently up for grabs, since he had put it up as collateral. A judge ordered the Cash Money celeb to cough up all keys to the premises and any security codes that would allow someone access.

Legal documents have also revealed that a “court-appointed person that will take control of the residence will also receive all contracts, leases, rental agreements, fixtures furniture and equipment” that are inside the mansion, which will more than likely be sold off piece by piece if no renter can be found in the near future. The compound is enormous, sporting seven bedrooms and 11 bathrooms stretched over 20,000 square feet of luxury. There is also a fully functional theater room, and golden chairs supposedly adorn Birdman’s foyer.

Fasho Thoughts:

  • Do we need to start a crowdfunding campaign to help him pay his bills?
  • Maybe Birdman should join a reality show like Celebrity Big Brother, where he can get a check and live for free for a while.
  • You can pay now or pay later. One option costs a lot more and involves a lot more headaches and stress.
  • If Weezy ever gets the money he’s owed, it’ll be after a long list of other debtors gets paid.
don juan fasho

Source: Radio One / Don Juan Fasho

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