AP Photo/M. Spencer Green
According to Crain's Chicago Business, Kelly faces a $2.9 million foreclosure suit on his suburban Illinois mansion in Olympia Fields. Apparently a complaint was filed by J.P. Morgan Chase Bank against R. Kelly last month, after a year of missed monthly mortgage payments.
A friend of the singer disclosed that he stopped making payments in an attempt to force a modification of the bank's loan, a decision that ultimately left him with a hefty suit.
The 11,140 square-foot home was custom-built for the artist 11 years ago, but has sat empty for over a year. It includes a four-car garage and six full bathrooms but the appraised value of the home has fallen considerably in the last two years.
AP Photo/Frank Polich
Kelly was also sued last month for more than $1 million by his former manager Jeff Kwatinetz for withheld commissions. The complaint, which was filed with the Los Angeles Country Court, alleges that Kelly failed to pay because he "needed instead to 'pay off' various individuals threatening to expose alleged illicit, embarrassing and unlawful conduct by Kelly, including sexual misconduct."
It's a surprise that R. Kelly would be strapped for cash after the successful run of his Love Letter U.S. tour. 'Love Letter,' his 10th studio album, debuted at No. 6 on the Billboard 200 chart and was certified gold by the Recording Industry Association of America.