Lawsuit: Young Thug owes $2.2 million on his Atlanta home

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Lawsuit: Young Thug owes $2.2 million on his Atlanta home

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Young Thug

Young Thug raps about spending seven bands on a tri-colored pit bull, but a real estate developer’s lawsuit claims he should have spent the money paying his mortgage.

A lawsuit filed by Heritage Select Homes, LLC on Wednesday claims the Atlanta-based rapper — whose real name is Jeffrey Lamar Williams — owes more than $2.2 million in house payments. The home is gated and nestled in Buckhead Heights.

Records show that Young Thug — who had six songs crack the Billboard Top 100 in 2016 — agreed to a “balloon promissory note” on the home on Sept. 19, 2016.  

A promissory note with balloon payments helps document and clarify the terms of a loan that's designed to have one or more larger payments due at the end of the repayment period.

Documents show that Young Thug, 25, was scheduled to pay a total of $86,500 on Oct. 19; $86,033 on Nov. 19; $150,567 on Dec. 19; and then two more payments of $14,667 in January and February.

On March 19, he was supposed to pay a sum of $2,214,667 on the home, but Young Thug failed to make that payment, according to the lawsuit filed by Atlanta-based firm Knight Johnson, LLC.

The home features an indoor pool and hot-tub. It is more than 11,000 square-feet, has six bedrooms, 11 bathrooms, a full bar, a theater room and a four-car garage.

This is the second time this week Young Thug has been in the news for something other than his music. TMZ reported on Monday that a case against him for battery was thrown out for lack of evidence.

In February, a New York event organizer also filed a lawsuit against the rapper for not showing up to a concert. He was also named in a Dec. 2016 lawsuit filed by Lil Wayne’s bus driver in Cobb County.

The rapper says his money is “longer than a NASCAR race” but it might be a bit shorterif he has to settle up with a few lawyers.

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Read the full lawsuit filed by Knight Johnson, LLC:

YoungThug lawsuit1 by Mitchell Northam on Scribd

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