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.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.