Mary J. Blige Slapped With $500K Lawsuit for Bank Loan Default

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Soul songstress Mary J. Blige (pictured) was hit with a lawsuit Thursday that accuses her of defaulting on a $500,000 bank loan, according to the New York Post.

The New York State Supreme Court filed document brought against Blige by Bank of America states that she took out a loan in 2005 and failed to make payments on it after June of last year.

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The 41-year-old Grammy Award-winning recording artist, who recently co-starred in the made-for-TV-movie, “Betty & Coretta,” with Angela Bassett, now owes a whopping grand total of $511,324, including interest.

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Blige’s latest lawsuit is the second one in three months. Last November, Signature Bank went after the performer and her husband, Martin Isaacs, claiming that they failed to repay a $2.2 million loan. The loan stemmed from an October 2011 promissory note whereas the couple agreed to make good on the loan last July. The bank claims they haven’t seen one red cent. The bank is demanding not only the huge loan amount but another $50,000-plus in interest.

The Mary J. Blige and Steve Stoute Foundation for the Advancement of Women was also sued by TD Bank for taking out a $250,000 loan in June 2011, which was supposed to be paid back over a six month period. The lender has stated that only a mere $368.33 has been paid towards the loan. Blige and her foundation board members blame the bank for not doing their homework and lending them the money, stating that had TD Bank delved into Blige’s charity financial picture, they would have discovered that the foundation was in serious debt.

The charity also claimed that the woman who signed for the loan had no authority to do so. The cases are still ongoing.

Hmmm…there seems to be a pattern here….

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