Contact Us

R. Kelly’s Mansion In Chicago Facing Foreclosure

It’s hard to believe, but at least one of R. Kelly’s homes is facing foreclosure.   Surely someone like Kellz, who has such a successful music career isn’t out of money.  Right?  According to a Chi town paper the bank that holds the homes mortgage has filed suit for lack of payments.

CHICAGO (Reuters) – Grammy-award winning singer-songwriter R. Kelly has failed to make mortgage payments on his multimillion-dollar Chicago-area home for more than a year and now may lose the property to lenders, court documents show.

In a foreclosure action filed in June in Cook County Circuit Court, J.P. Morgan Chase Bank N.A. said that the singer, whose full name is Robert S. Kelly, had not made a monthly payment on the 11,000-square-foot home in Olympia Fields in south suburban Chicago since June 2010.

The suit said the current principal balance on the loan was more than $2.9 million, not including unpaid interest, which accrues at rate of $251 a day.

The original loan issued in 1999 was for $3.5 million, according to the lawsuit, and the monthly payments were

$24,345.12.

The property 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 star, who won three Grammy Awards in 1998 for his song “I Believe I Can Fly,” is no stranger to controversy.

In 2008 a jury acquitted him of child pornography charges.

(Reporting by Karin Matz; Editing by Jerry Norton)

via Bank moves to foreclose on R. Kelly’s suburban Chicago mansion – chicagotribune.com.

More From 107 JAMZ

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://107jamz.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on 107 JAMZ quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on 107 JAMZ quickly by logging in with your Facebook account. It's just as secure, and no password to remember!