R.Kelly is facing his own personal housing crisis now that his Chicago mansion could go into foreclosure.
According to Crain’s Chicago Business, JP Morgan Chase filed a $2.9 million foreclosure on the crooners home in the southern suburbs of Chicago. The complaint, filed in Cook County Circuit Court last month, states that Kels, whose real name is Robert, hasn’t paid his mortgage since June 2010.
Reportedly the value of his Olympia Fields home dropped 26% to 3.8 million in 2010. That’s down from an appraisal of $5.2 million in 2009. The singer, born Robert Kelly, took out a $3.5 million loan for the home in 1999. The principal due on that loan is $2.9 million, a total which does not include unpaid intrest and other fees.
The singer’s former management at Prospect Park LLC is also suing the singer for $1 million, claiming that the perfomer witheld payment. The company claims its was told that the money "needed instead to ‘pay off’ various individuals threatening to expose alleged illicit, embarrassing and unlawful conduct by Kelly, including sexual misconduct.”
Robert’s rep, Allan Mayer, said that the singer isn’t having any money problems, but he declined further comment on the foreclosure situation.
— Sonya Eskridge