R. Kelly fails to pay mortgage for a year on $2.7 million house
US grammy-winning singer R. Kelly faces a $US2.9 million ($2.7 million) foreclosure on his suburban Chicago mansion.
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 Chicago Business publication reports that the Olympia Field home's appraised value fell 26 per cent in a year, to $US3.8 million in 2010. The original 1999 loan was for $US3.5 million
The principal due is more than $US2.9 million.
The R&B superstar's spokesman Allan Mayer declined to comment on the foreclosure. But he said Kelly isn't having financial trouble.
Mayer said the singer now lives in Chicago. Mayer said Kelly's recent tour and 2010 album, Love Letter, have been successful.
Something tells me that I couldn't go a year without paying my mortgage, just a wild guess. However, maybe I could make a video where I pee on a teenager and make some extra money to make the payments, you never know.
KC can attest to the fact that I came up with "Molesta" as a parody for R. Kelly's "Fiesta" way before anyone else. JAMN 94.5 stole my shit!
KC Jones note: Yes, Big Ran did, and he should be getting MAJOR royalties!
KC Jones note: Yes, Big Ran did, and he should be getting MAJOR royalties!
-Big Ran
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