EXCLUSIVE Mariah Carey has borrowed a mind boggling $18 million on the Manhattan penthouse she bought for half that amount – as her ‘$1 million-a-month’ spending spirals out of control

Mariah Carey has loaded her New York penthouse with numerous multi-million mortgages with $18.6 million is still outstanding – $10.6 million of which was in cash advances.

Perhaps it is her reportedly extravagant million-a-month spending habit that is the reason she necessitates these huge infusions of cash, even though 2016 because of her obsession with ‘money, money, money,’ with insiders reckoning she spent $45k on doggie spa treatments, $100k-a-month on exotic flowers and $10k-a-time for hair

Carey, 55, purchased her Tribeca apartment for $9 million cash in June 1999 through a company Franklin Views LLC set up by her business manager. She bought the penthouse and the apartment below, then joined them together.Then, in May 2015, Carey – or Mimi as she is known to fans – borrowed a further $2.6 million with City National Bank, nicknamed ‘Bank to the Stars’ for offering bumper loans at low interest rates to high-end clients.

She refinanced the $8 million mortgage with JP Morgan Chase to $17.6 million In August 2016 – reflecting the increased value of the property – and received $9,622,798 advance.

Carey signed the document as a ‘managing member’ of Franklin Views LLC.

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Then, in April 2018, the $17.6 million mortgage was increased to $18.6 million with $1,022,478 advanced to the singer. The contract was again signed by Carey.

So in total, she borrowed $18.6 million from JP Morgan Chase and $2.6 million from City National Bank. The $18.6 million is still outstanding though the smaller amount was paid off in October 2016.