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Diddy Owes Nearly $100 Million In Mortgages On Homes Raided By Feds -- DETAILS!

Diddy owes $100 million to the bank after taking out 8 mortgages on his homes

Diddy has not only a boatload of legal issues but a ton of debt, too!

According to on Friday, the 54-year-old rapper owes almost 100 million to the bank after taking out multiple mortgages on his homes. Damn! He reportedly borrowed a whopping $140 million from several banks to pay for three mansions in Los Angeles and Miami. You know, the same homes that were raided by the Department of Homeland Security earlier this week as part of a reported federal sex trafficking. A source revealed to NBC News the investigation also covers solicitation and distribution of narcotics and firearms investigation. Let’s break it down.

Related: Yung Miami Hits Back At Diddy ‘Mule’ Claims!

The outlet reported that Diddy bought his eight-bedroom, 11-bathroom place in El Lay, located in the Holmby Hills neighborhood, for $39 million in August 2014. To fund the lavish home, the music mogul took out two mortgages from the Bank of America in 2014 and May 2021 – each for $25.35 million. Neither has been paid off yet. However, the former is not due in full until August 2029, while the latter is due in May 2036.

Along with the house in Los Angeles, Diddy purchased two side-by-side estates on Star Island in Miami Beach. One of the properties, a nine-bedroom and 12-bath waterfront pad, was bought from Sony Music head Tommy Mottola in 2003. The price tag? $14.5 million! What is even more shocking? He has taken out five mortgages totaling $68.45 million. Damn! At this time, the Bad Boy Records founder has only paid off $42.35 million.

For the second property next door, a 10-bed, six-bath mansion purchased in July 2021 from Gloria and Emilio Estefan for $35 million, Diddy took out a single home loan for $20.7 million with Bank of America. He has until August 2036 to repay. noted that the Making the Band alum most likely has other homes throughout the country. It is unknown if he has more mortgage debt on those properties, too.

But all of this means Diddy has taken out eight mortgages worth $139.85 million between his three homes in Miami and Los Angeles — and still owes $97.5 million to the bank. For someone who is a reported billionaire, you have to ask: Why would he have needed to take out nearly $140 million to fund these homes? Hmm…

Between the financial woes and trafficking, sexual assault, and other horrific allegations against him, things are not looking good for Diddy right now. Reactions, Perezcious readers? Let us know in the comments below!

[Image via Vogue/YouTube, MEGA/WENN]

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Mar 30, 2024 07:59am PDT