CHICAGO (AP) — Grammy-winning singer R. Kelly faces a $2.9 million foreclosure on his suburban Chicago mansion.
A Crain's Chicago Business publication reports 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 superstar's spokesman Allan Mayer
declines to comment on the foreclosure. But he tells The Associated Press that
Kelly isn't having financial trouble.
Mayer says the singer now lives in Chicago. Mayer
says Kelly's recent tour and 2010 album, "Love Letter," have been
successful.
Copyright
2011 The Associated Press.
