R. Kelly hit with foreclosure on mansion

HOLLYWOOD, CA - FEBRUARY 19: Singer R Kelly arrives at the after-party for NBA superstar Kobe Bryant's hand and footprint ceremony held at Boulevard 3 on February 19, 2011 in Hollywood, California. (Photo by Michael Tullberg/Getty Images) *** Local Caption *** R Kelly Michael Tullberg

R. Kelly, Feb. 19, 2011, in Los Angeles.
Getty
(CBS/AP) He was trapped in the closet. He believed he could fly. Now he's in foreclosure. Grammy winner 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. 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.

Comments

CBSN Live

pop-out
Live Video

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.