: MediaTakeOut.com learned that R&B star R. Kelly is being hit with a $2.9 million foreclosure lawsuit on his house in the Chicago suburb of Olympia Fields.
Crain’s Chicago Real Estate Daily reported Tuesday that Kelly has not made a monthly mortgage payment since June of last year on the mansion, located on Maros Lane. Thus, J.P. Morgan Chase Bank N.A. filed a foreclosure complaint in the Chancery Division of Cook County Circuit Court last month, Crain’s reported.
The house and its gated estate were constructed for Kelly 11 years ago. The house is 11,140 square feet, and features six full bathrooms, seven half-baths, and a four-car garage.
(Ya'll said ya'll had inside pics of the home MTO? Liars.) I shook my head when he married Aaliyah and I stopped buying his *** when he did what he did to them young girls. I dont like to wish bad on no one but everything has a purpose. The man is a pedofile and folks thinks it's ok just because he's "R KELLY, the R&B singer" No that *** dont fly with me.
First off no one know what happening. See you'll call it broke and think about his credit being jacked up. Well rich ppl call it to hell with the house. Show proof that he's been living there. If he has another house and want's to sell this one, but can't. You don't keep making payments on the house, let foreclose. Remember only broke folk think about credit scores because they don't have money. This fool isn't broke. He selling out of his concert, front row tickets $100+.. Please!!
he ain sell out the show hes doing here *** in the lou-ky and most people who have big *** houses like this cant afford the upkeep like maintence lights gas maids all that shid or just dont wanna pay all that shid and IF it is in foreclosure hes made a few mistakes in his life so i tend to believe that all the lawsuits and money hes had to pay out and he didnt sell that last album all that well hes singin old shid not new shid at his shows
In this realestate market there can be many things going on. Stars are people too and they have to make the hard decisions too. If R Kelly has not made a payment since last june and not foreclosed by now. There is more going on than we know don't be quick to judge and "Chase Bank" well If you have been paying attrntion they are one of the leading predators of the realestate market. (and the slave trade). I wish R Kelly success and the results he is looking for in this matter.
They should require people to take some type of finance class when they get rich and they are coming from nothing. Get to buying stuff that is a depreciating asset and not focusing on they future. Buy ya house straight out if you got all that money and don't worry about not being on MTV cribs, because people don't need to be in your business anyways.
R KELLS HOUSE IS NOW WORTH MILLIONS LESS THAN WHAT HE PAID FOR IT. WHO IN THEY RIGHT MIND WOULD CONTINUE TO PAY ON A HOUSE THATS WORTH LESS THAN THE BOUGHT IT FOR? ITS HAPPENEING ALL THE TIME AND JUST BECAUSE R KELLS AINT MAKING THE PAYMENTS DOESNT MEAN HE IS BROKE. HE HAS WRITTEN SOME OF THE GREATEST HITS AND GETS RESIDUAL CHECKS IN THE MILLIONS EVERY YEAR. WHITE FOLKS DONT PAY ON THEIR DEBTS EITHER BUT ITS CALLED BANCRUPTCY...SO JUST BECAUSE R KELLS AINT PAYING ON HIS DEBT YALL WANT TO CALL HIM BROKE? STFU!!!!!WHY THE WHITE MAN GETS A PASS FINANCIALLY AND THE BLACK MAN CANT?
WELL THE REASON R. KELLY GETS SO MUCH SUPPORT FROM BLACK WOMEN IS BECAUSE HE LIKES KIDS AND THEY DON'T!! SO REGARDLESS WHAT HE DOES WITH THEM HE IS JUST LIKE A BABYSITTER BECAUSE HE TAKES THEM OFF THEIR HANDS!!!
HE NEEDS TO LOSE EVERYTHING ANY PERSON WHO WANTS TO BE SEXUALLY INVOLVED WITH KIDS SHOULD BE GIVEN THAT SPECIAL CHAIR AND BE FRIED!! SUCH A DISGRACE!!
YA FEEL ME!!!
ALL UP IN YA!!
@@@ (ConnieConstance) YOU SAID:-- "Rich people let their homes get foreclosed for other reasons unlike regular people".-----
...Let me start off by stating I usually do not allow my tongue to go gutter on me, but the disparity level of the American *** stupidity, has me quite peeved these days.
"No you imbecilic ***-b.i.t.c.h--- we the rich do not allow our properties to go into foreclosure because we are sitting on 5 or 6 hundred million, and one day out of the blue we decide not to pay our mortgages, you swine."
People that go into foreclosure are not as rich as they may seem, our they would not be going into foreclosure of a residential property.
There is a difference between letting a business go into foreclosure/bankruptcy because usually a business is not tied into personal liability. However, a residential property is usually tied into the owners personal liability and or assets.
Do any of you even know what a credit rating is, and what a foreclosure will do to it?
One does not go into foreclosure because one simply does not want to pay the mortgage. One goes into foreclosure because one can no longer afford to pay the mortgage. Even if the property is appraised for less than the mortgage balance due, one simply sells the property in question and assumes the loss. If one is truly rich/wealthy the loss will not adversely affect ones lifestyle-- (you just do not merely let go into foreclosure for the sake of doing, you idiots)
This is the mentality that will always keep "***" and "***" broke, even for the ones that by chance manage to become rich, will soon indeed find themselves back in the quagmire of brokenness.
Blacks in America will always be towards the bottom rungs of the financial societal ladder, not because they lack hustle, but because of the way they think, and what is it they do, after the hustling has been done.....Artofwar
@ArtofWar I know your comment was directed at Connie, but ***; you just had to throw in a few ***-words for good measure, and get me all offended. I refuse to partake in these silly MTO debates ever again, so there is no need for you to respond. I actually agreed with some of your post. However, when schooling us on a lack of money management skills, bashing black people is unnecessary. You sound like a racist, and I'm too disgusted. There have been plenty of allegedly wealthy white celebrities with homes in foreclosure. Apparently, they failed to make strategic moves after the hustle, too. I believe there are a few other reasons why blacks will likely remain at the bottom of society's financial ladder, but people who truly understand the black culture (not you) are already aware them.
With my previous post on Kells, I simply stated that I will assume he could pay for that house if he really wanted to, meaning he could sell some of his other assets, work harder, or whatever. R. Kelly's producing and last album seem to have done well. He's currently on a successful international tour. Now, maybe I am an idiot for thinking that should cover a few missed home payments if that was his goal. About a year ago, Forbes listed his worth at $150 million dollars. Thus, I suspect he could have paid cash for that home if he really wanted to. Why are you rich *** financing things anyway? BTW, I love his music, but he could live in that Phantom, which he was always singing about, for all I care. Just don't act like whitey doesn't overspend, Art.
for some reason, I thought people with that much money would have just paid the house off when they're in their prime earning days. Like, all the money Im sure R. Kelly has earned over the years...he likely didn't need to pay a mortgage. Why bother with mortgages, when you could just pay it all off in 1 ***?
Maybe tax purposes?
Wait a minute...so if you get yourself into a contract and then you don't like the terms, you can opt out by not paying? I thought that bankruptcy was for people who couldn't pay, not people who didn't manage their money correctly and pay their bills. If you buy more house than you can afford, and then stop making payments, then the credit people are gonna assume you're broke. Buy stuff straight out and you won't have these problems. Pay your bills while you got the money idiots.
Some of you sound like morons with these "I'm not surprised", "That's what he get", "He was paying people off!" or "Oh it's karma" comments.
Black people and all these conspiracies. STFU!
He stopped living in that house for a year and stopped paying once he saw that the value of the mansion has plummeted. It's called strategic default, morons!
Hate him or not - he makes millions yearly solely based off royalty checks. He IS a songwriter and producer for all of his hits AND for some of your favorite artists as well!
