Birdman's Lawyer Says He Could Pay Off $12 Million Mansion In Full If He Wanted
(AllHipHop News) A lawyer for Birdman is denying claims the rap star has lost his expensive Miami mansion.
Birdman has been in a nasty legal battle with a company called EMG Transfer Agent.
Birdman took out a $12 million dollar loan with the company, but he allegedly started to default on his payments.
He later served EMG Transfer Agent with a lawsuit claiming the company deliberately structured his loan so he would eventually default.
According to Birdman's attorney, EMG illegally converted Birdman's loan from a residential loan into a commercial one, without the rap star's knowledge or consent.
"Of course Brian has always been able to pay off the $12 million loan at any time, but it's become a matter of principle," said his lawyer Alan Soven.
Birdman's lawyers say the rapper paid mostly cash money for the house, but he decided to take out a $5 million mortgage to finance the property too.
When a balloon payment on the loan came due, the Cash Money boss decided to refinance and that's where issues with EMG started.
Birdman's lawyer claims EMG illegally converted the loan from a residential to a commercial one.
This allowed them to charge Birdman man more money, especially after he defaulted on one payment as the negotiations over the loan were taking place.
The rapper is attempting to sell the mansion for $15.5 million so he can settle the dispute and get on with his life.