Saturday, October 20, 2018

Birdman Sues Over Predatory Lending Practices


Back in January Cash Money CEO Bryan Birdman Williams lost his Miami mansion to foreclosure [click here if you missed that].

Now Birdman is suing his lender for setting him up to fail...

From The Blast
According to court documents obtained by The Blast, the music mogul claims the “predatory” loan provided to him by EMG Transfer Agent “had toxic terms.” He says the company was “relying upon the equity” in his mansion and “ignoring his ability to repay.”
He claims the company tried to disguise the loan as being for “business purposes” instead of for his personal use — the money went back into the home, to pay off a tax lien and to pay off another loan — in an effort to get around the law.
He claims they assessed an illegal interest rate of 25% making it impossible for him to continue paying on the loan.
Birdman is suing EMG Transfer Agent demanding “the return of all money or property given as earnest money or down payment” and for the termination of the loan, along with the return of all finance charges and unspecified damages.

6 comments:

Anonymous said...

And the whole time they was doing it he was signing and profiling. Just because it didn't end up being him and Waynes marital home does not mean he should be off the hook for payment. That is what happens when you give hood rats tons of money and they just really want to buy big jewelry and fancy cars.

Anonymous said...

Birdbrain got stole from just like he steal from his artist? Ha!

KARMA!!!!!

☛☢Twitter☺Fingers☢☚ said...

Because the priority wasn't making safe, investment decisions, the priority was the flashing cars, the jewelry and clothes. Everything thing else afterwards wasn't important. He needs to put some respekt on his financial education instead of his name.

Niyabinghi/ObeahWomanWarrior said...

@2:18 and 3:55 PM
Y'all said what needed to be said. Nothing left to add.

Anonymous said...

Remember BIRDMAN lost like 5 houses and 20 cars including 2 Maybachs and 2 Ferraris during hurricane Katrina!

BIRDBRAIN he is Ha! Rick Ross and Weezy LTAO!!!!

Anonymous said...

Cash Money Records!!!! Why he didn't pay cash money for his crib?! What's 12 million in cash to Bird head? He spend a 100K at Strip Clubs. 12mil should be chump change to him. Why don't these black men pay cash money for their houses yo?! 50 Cent Jermaine Dupri Damon Ass...now Tweety Bird?! Is all these fools fronting?! DAYUM!!! Who next? Kanye Zay J Russel Simmons and Puff Titty?!

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