Multi-Grammy award winning R&B crooner R. Kelly is in jeopardy of losing his multimillion-dollar mansion in Chicago. According to Crain’s Chicago Business, the “Love Letter” hitmaker was slapped with a $2.9-million suit by his creditor J. P. Morgan Chase Bank N.A., who filed a complaint in Cook County Circuit Court back in June.
In the suit, J. P. Morgan claims Kelly has failed to make monthly mortgage payments on his Olympia Fields mansion since June 2010. In addition to the suit, Crain’s reported that the 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 singer’s spokesman, Allan Mayer, declined to comment about the foreclosure, but tells The Associated Press that Kelly isn’t in financial trouble. Mayer also insists that Kelly’s “Love Letter” tour and album were successful.