According to court documents, Chad hasn’t paid the monthly $863 maintenance fees on his $400,000-16th floor crib since June 2009. He owes $28,703 with all his income suddenly being put on hold.
To make matters worse, he’s making ends meet with a $150,000 mortgage he received from two Palm Beach County investors, Michael Pomerantz and well-known dermatologist Patrick McPoland, according to records. Chad will have to pay the principal back by June 2015.
Johnson has until June 2015 to pay the principal back and as collateral, he used a $350,000-Miami Springs house he bought for one of his baby mamas. *sighs*
We hope things start to look up for Chad. We just witnessed (once again) how one mistake can take you from the top of the world to the bottom.