R Kelly Faces Foreclosure on Chicago-Area Mansion

By: Associated Press Email
By: Associated Press Email

CHICAGO (AP) - Grammy-winning singer R. Kelly faces a $2.9
million foreclosure on his suburban Chicago mansion.

Crain's Chicago Business reported Tuesday that JPMorgan Chase
Bank filed the foreclosure lawsuit last month in Cook County
Circuit Court. 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
percent in a year, to $3.8 million in 2010. The original 1999 loan
was for $3.5 million

The principal due is more than $2.9 million.

The R&B singer's spokesman, Allan Mayer, declined to comment
about the foreclosure. But he tells The Associated Press that Kelly
isn't in financial trouble.

Mayer says Kelly now lives in Chicago and that his recent tour
and 2010 album, "Love Letter," were successful.

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