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HOUSING CRISIS: R. Kelly Faces Foreclosure On His Chicago Mansion

R. Kelly is facing a $2.9 million foreclosure suit on his mansion in the south suburbs of Chicago.  Get the deets inside....

 

R. Kelly may not have served any jail time for child pornography, but the aftermath of the trial still haunts him.  He currently faces a $2.9 million foreclosure suit on his 11,000 sq. ft. mansion in Olympia Fields, outside of Chicago.

While R. Kelly's camp says he hasn't paid the mortgage since June 2010 in an attempt to force the bank to modify the loan, his former managers say otherwise. 
 

Last month, Prospect Park LLC, the former management company of R. Kelly, filed a $1-million lawsuit in Los Angeles saying that Robert withheld commissions because the money was,

“...needed instead to ‘pay off' various individuals threatening to expose alleged illicit, embarrassing and unlawful conduct by Kelly, including sexual misconduct.” 

Hmm...So maybe that's where the mortgage money went too?  R has put this house on the market a few times.  So maybe he'll be trying that route again....

 

 The Randomness:

1. Rodney King drives into trouble with the law again and a DUI. Story.

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Comments

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If I had money like R I just

If I had money like R I just buy my home I never have a house note
nelms's picture

I'm sorry, but I couldn't

I'm sorry, but I couldn't even get past the pic - R looking like Nasty Uncle Willie at the cookout with them veneers and wrinkles at the eyes - LOLOLOLOL
Anonymous's picture

I bet those YEARS of legal

I bet those YEARS of legal bills dwindled his fortune. Oh, well.
INTS's picture

R still have enough money to

R still have enough money to buy ybf.com "believe that", he's richer than the u and I....
Bro. Jay's picture

The sad thing is this man

The sad thing is this man sings beautifully...but I cant get past the fact the he preys on small children.... period point blank...not once not twice....three times-that the world knows of....UGHHHHHH!!!!
Lynnette's picture

So agree with you. Talented

So agree with you. Talented man but I can not listen to a pedophile and support him. Just can't do it.
Anonymous's picture

karma!

karma!
mon's picture

damn Kells!!! Ima stay down

damn Kells!!! Ima stay down with you, damn what these losers on here are talkin about!!!
Anonymous's picture

Yeah, we know birds of

Yeah, we know birds of feather. Keep on defending this child toucher and pisser.
leonard mckelvey's picture

i just saw chris brown's ass

i just saw chris brown's ass at http://kelsnetwork.blogspot.com/ .... he is so hottt
jane's picture

His home is in foreclosure he

His home is in foreclosure he is not alone. None of our homes are worth ish right now. You have to stop paying in order for the banks to modify and thats not gaurenteed. The banks make money by foreclosing so we dont have a chance in hell of winning. Its a shame. R kelly is rich he will be fine.
Daniel from the "D"'s picture

RKelly go straight down to da

RKelly go straight down to da welfare first thing tomorrow mawnin!!
POLITICALLY INCORRECT's picture

Now that was funny!

Now that was funny!
Anonymous's picture

LOL at you thinking R. Kelly

LOL at you thinking R. Kelly needs any handouts like you and your deadbeat mother!
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Anonymous's picture

Ya'll are 2 Damn FUNNY

Ya'll are 2 Damn FUNNY !!!!!!....smh.... It doesn't even matter whatever he's going through his ass will continue to make Hits and get paid!!!!!
R.Kelly Fan 4 Life!!!!!'s picture

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Anonymous's picture

well he dont need to be

well he dont need to be cancelling shows like he did last night in Richmond, VA! folks took off of work to be there..smh make it work RKelly
Anonymous's picture

Some more bad new for the

Some more bad new for the pisser. Good maybe he will have to live in a one bedroom apt. He'll have to piss on himself. PIG
leonard mckelvey's picture

Bad news will NEVER send him

Bad news will NEVER send him to an apartment..NEVER. He's already been through bad news and he stayed winning. During his worst news he still made Platinum status, and Foreclosure isn't even bad news- he could give a damn about that one of many houses. Rich people all over the globe are letting their multiple homes foreclose, hell middle class people are letting their homes foreclose-foreclosure isn't that deep for everybody and it's far from bad news and in comparison to Kelly's past bad news it's clear that he will FOREVER BE A WINNER. He might get an apartment to store his extra sh!t, but he won't be living there
anonymous's picture

STUPID. R. Kelly will NEVER

STUPID. R. Kelly will NEVER live in a one bedroom apartment like you, dummy! He's perfectly fine with his numerous homes and condos in Chicago. Stay mad and poor, ugly!
Anonymous's picture

You are the dummy defending

You are the dummy defending this POS child toucher and pisser. Go on and get it he's calling you. It's time for your GOLDEN Shower. DUMMY!!!
leonard mckelvey's picture

and I can't believe a

and I can't believe a dumbfuck like you would think R. Kelly would ever have to purchase a one bedroom apartment. He's not poor like you, dumbass coon!
Anonymous's picture

Yeah, you are right I am

Yeah, you are right I am nothing like the pisser. I have NEVER been on trial for molesting and pissing on a young child. I'll tell you what he is a pedophile.
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xiaoxiao's picture

BENEFITS OF

BENEFITS OF FORECLOSURE: http://www.foreclosurelawfirms.com/resources/foreclosure/foreclosure-ban... "Strategic default" is an interesting term used to describe purposely allowing your home or other mortgaged property to fall into foreclosure, even though you have the income to continue to make the monthly payments. This is a controversial topic, but there are benefits to a strategic default. From a purely business transaction/investment perspective, if you owe significantly more money on a piece of property than it is currently worth because of market conditions, when you make your mortgage payments you are making a POOR INVESTMENT, because it will be years (or maybe never) before you can receive a return on your investment. If you own more than one home, perhaps a rental property or a vacation home, it might be extremely beneficial to you to strategically default on the property that is not your primary residence so that you can ensure having enough money to continue making payments on the home you live in. When you strategically default on a mortgage, and it gets foreclosed on you can also stop spending any additional money you were spending on upkeep such as utilities, taxes, home owner's association dues and regular maintenance. The benefits come at a price, which you need to carefully evaluate:
anonymous's picture

Well he is about to go on

Well he is about to go on tour again so I guess things will be all good- or maybe he doesn't need that house anyway! to many bad memories:)
gioperation's picture

He is already on tour. Matter

He is already on tour. Matter fact, the Love Letter Tour is on its last couple dates.
Anonymous's picture

He's not broke by any means,

He's not broke by any means, the house is no longer worth what he owes on it so I don' t blame him for wanting a modification. Just because he' s rich the bank wants it all.....
Anonymous's picture

THANK YOU! Someone with

THANK YOU! Someone with sense.
Anonymous's picture

He's not broke by any means,

He's not broke by any means, the house is no longer worth what he owes on it so I don' t blame him for wanting a modification. Just because he' s rich the bank wants it all.....
Anonymous's picture

He knows what he did with

He knows what he did with that young girl. He knows what he has done with other young girls. KARMA.
zappy's picture

now how u no it wasn't that

now how u no it wasn't that young girl doing sumthing 2 him. I didn't remember seeing that young girl tied down to nuthing when he was doing what he was doing.
upgrade u's picture

You're stupid.

You're stupid.
Anonymous's picture

Really? Not paying your

Really? Not paying your mortgage = defaulting on a loan. It MESSES up your credit. regardless of what anyone else tells. From a pure financial sense, if you owe more than the equity in the house, paying the mortgage does not help with your equity BUT it helps with your credit.
zappy's picture

Okay, that makes sense.

Okay, that makes sense.
Anonymous's picture

What he's doing is called

What he's doing is called strategic default.
Anonymous's picture

Exactly, but it still messes

Exactly, but it still messes up your credit. What happens is banks sometimes allow individuals (especially if they are wealthy at the time) to borrow more than the house is worth, with the idea that you will eventually have some money rolling in and will repay them. They can give you a second and sometimes a third mortgage on your house. Mind you, these loans are usually at higher interest rates. Bottom line is, if you don't pay your bills, it messes up your credit. BTW - wealth is not the same as having cah flow. I can worth/have wealth do to the tune of 1 million, because my house is worth that, but don't have any cas in the bank I can access. That is the lesson for the day, peace out.
zappy's picture

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poreiwo's picture

wow Kelly. well, he HAS been

wow Kelly. well, he HAS been on tour, right? maybe he just...FORGOT. i see some posters saying its good to forego your mortgage...im not sure about that and maybe it works in some states. but maybe it works bc the banks have so many properties they are willing to work with you but i dont think they are going to just release u from owing what u havent paid...thats WAAYYY too generous. either way, its unfortunate and sad. pray for the nation, people.
ooooimTELLIN's picture

He didn't just forget, dummy.

He didn't just forget, dummy. The man has advisers and consultants around him that tell what's best for him. He was most likely advised to stop paying his mortgage.
Anonymous's picture

eh, it's not Karma until

eh, it's not Karma until someones daddy beats the holly shit out of him.
what's picture

You are so right. Someones

You are so right. Someones daddy needs to put some lumps and dents in the pisser head. Maybe then he will be cured from pissing on YOUNG school girls. He's a SICKO
leonard mckelvey's picture

Holly? You idiot.

Holly? You idiot.
Anonymous's picture

oh for the love of pete it's

oh for the love of pete it's a f*cking typo. Deal with it.
Anonymous's picture

oh for the love of pete it's

oh for the love of pete it's a f*cking typo. Deal with it.
Anonymous's picture

LMAO!!!

LMAO!!!
Anonymous's picture

My local news station did a

My local news station did a story on why it's sometimes a good thing not to pay your mortgage, and there's a lot of rich people down here not paying ON PURPOSE and they don't seem worried about it all, and when I worked at SAKS one of the customers I was talking to said she was going to a hearing, her and her husband own several properties and homes and 2 businesses and she said she wasn't paying sh!t on one of her properties until they met her demands, and she kept right on shopping. So in some states it seems like risking foreclosure is a good thing, it is here.
anonymous's picture

I haven't paid mine at all

I haven't paid mine at all this year. Since my credit is fucked anyway, I'm going to try and shoot for another year or so without paying. Hell, some people haven't paid in 5 years.
It's A Game's picture

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