Looks like Carnie Wilson isn’t the only singer that has been hit by the housing crisis – Grammy-winning artist R. Kelly also faces foreclosure on his suburban Chicago Mansion.
In a report published yesterday by Crain’s Chicago Business, JPMorgan Chase filed a foreclosure suit last month stating that Mr. Kelly hasn’t made a mortgage payment since June of 2010.
R. Kelly, who is no stranger to controversy, owes more than $2.9 million in principle on the Olympia Field home which appraised for $3.8 million last year.
In addition to the nearly 3 million in principle due, the 11,000 square-foot home has a number of liens on it, according to the lawsuit, including nearly $2 million from the Department of the Treasury.
The 44-year-old R&B singer’s spokesman, Allan Mayer, declined to comment about the foreclosure, but did reveal that Kelly – whose recently completed 2011 tour and 2010 album, Love Letter, were apparently both successful – is not in any financial trouble.
This brings up the question: Is he just choosing to not pay his bills? What are your thoughts?
Check out I Believe I Can Fly, the song that won Kelly three Grammys back in 1998.
R. Kelly – I Believe I Can Flyby classics007
via Chicago (AP)