Entertainment / Celebrity
R Kelly in trouble, set to lose his mansion
13 Jul 2011 at 10:42hrs | Views
Grammy-winning singer R Kelly faces a $2.9m foreclosure on his suburban Chicago mansion.
A Crain's Chicago Business publication reports that JPMorgan Chase Bank filed the foreclosure lawsuit last month. The complaint states that Kelly hasn't made monthly mortgage payments since June of last year.
Crain's reports the Olympia Field home's appraised value fell 26% in a year, to $3.8m in 2010. The original 1999 loan was for $3.5m.
The principal due is more than $2.9m.
The R&B superstar's spokesperson Allan Mayer declined to comment on the foreclosure. But he told AP that Kelly isn't having financial trouble.
A Crain's Chicago Business publication reports that JPMorgan Chase Bank filed the foreclosure lawsuit last month. The complaint states that Kelly hasn't made monthly mortgage payments since June of last year.
Crain's reports the Olympia Field home's appraised value fell 26% in a year, to $3.8m in 2010. The original 1999 loan was for $3.5m.
The principal due is more than $2.9m.
The R&B superstar's spokesperson Allan Mayer declined to comment on the foreclosure. But he told AP that Kelly isn't having financial trouble.
Source - AP
