Grammy-winning singer R. Kelly faces a $2.9 million foreclosure on his suburban Chicago mansion.
Crain’s Chicago Business reported Tuesday 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 m… (View original article)