Bank FORECLOSES On Tory Lanez Miami Home!

According to reports, Rapper Tory Lanez is fighting for his freedom against assault charges brought by, Megan Thee Stallion. In addition to that drama, Lanez is also dealing with losing his Miami home due failing finances.

CelebnMusic247.com reports that last week, the banks foreclosed on Tory’s Miami condo.

According to Radar Online, a company named BH 4908 LLC is suing Tory Lanez, born Daystar Peterson, for foreclosure on his Miami condo. The 3-bedroom, 3.5-bathroom, 2,182 sq. ft. penthouse was purchased by the 29-year-old entertainer in 2018 for a reported $1.8 million. Allegedly, Tory Lanez took out a $1.26 million loan with BH 4908 to help buy the Miami property.

According to reports Tory’s credit was HORRENDOUS, so he took out a non-traditional mortgage with some pretty crazy payments.

MTO News confirmed Tory agreed to make monthly payments of $11,057.40 and then one large balloon payment in December 2021.

According to the mortgage company, Tory defaulted under the terms of the mortgage by failing to make the balloon note totaling $1,237,456.06.

The suit says Tory owes a total of $1,237,456.06 that is due on the loan plus interest.

The mortgage company also claims in the lawsuit that Tory still lives in the luxury condo and is the only owner on the title.

The company is demanding the court allow them to foreclose on the home and sell it off to the highest bidder. They also want him to pay any difference between the amount the home is sold for and the amount owed.

Tory Lanez net worth is currently at $2 million, so he is living way outside of his means.

Someone needs to teach him how to make his money work for him instead of blowing it on material things to boast on social media.