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R. Kelly is Going to Lose His Home

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R Kelly hasn't made mortgage payments on his Chicago-area mansion for more than a year. Now, he’s being sued by his bank for the $2.9 million he still owes on the home.

Kelly hasn’t lived in the 11,140 square-foot Olympia Fields property for months. A source says he stopped making payments on the home to force his bank to modify his original home-loan. The suburban estates’ appraised value dropped dramatically, from $5.2 million in 2009 to $3.8 million in 2010. Kelly moved to the suburbs after selling his Lakeview neighborhood mansion, where prosecutors (unsuccessfully) argued he had sex with an underage girl. But he hasn't had a great time in Olympia Fields—the village filed a suit against him in 2006 for keeping tour buses and dogs on his land. Kelly's being sued by his former manager Jeff Kwatinetz too. He claims the singer has failed to pay him his promised commission in full.

Rent until you're ready, kids!

Posted: July 13, 2011
R. Kelly is Going to Lose His Home