R.Kelly has been forced to slash the selling price of his lavish mansion.
It has been reported that the singer had the house built back in 1997 but in 1999 used it as collateral to borrow $3.5million.
However after missing his mortgage payments for more than a year and facing a foreclosure lawsuit, he has put the house on the market for just $1.595 million in an attempt to force a quick sale.
Click HERE to view photographs of the house.
R. Kelly has made millions of dollars songwriting, producing etc so I don’t quite understand why he needed to borrow $3.5 million and why he has been missing his mortgage payments.
It wasn’t that long ago when Kelly could be seen turning up to events dripping in diamonds. The money spent on gaudy pieces of jewellery could have gone towards paying off the mortgage.
I wonder what the $3.5 million was for…..
Categories: Music News
i wonder who it was for…….? hmm
Haters wanna hate, lovers wanna love, I don’t even want, none of the above, I want to piss on you…drip, drip, drip…
F**k this R. Kelly dude. He probably couldn’t find any takers for the playground attachment.
I refuse to believe that he is in any financial trouble. His image has been tarnished ever since his antics, but he seriously cannot be that badly off. If he is, i want to know the secret to how he got in this situation or how any of many of these artists get in these troubles, when clearly they keep bombarding us with their their wealthy lifestyle. If you don’t know what i am talking about, watch the CRIBS episodes especially the American ones.
I’m not surprised about this… He had to pay off so many people. So sure he is having problems…when was his last hit? But i will say this…you should see the house in person….it is amazing….. To many rooms to describe….but really nice…
@wow, we’ve all watched Cribs, frakk just mention the words “popping tags” & “Damon Dash”, then look for the nearest exit or run for cover.
The thing is some/most* of these celebs (singers, ballers, NFL-ers etc) tend to spend their money stupidly never thinking ahead or investing wisely, forgetting there may/will be a time were they go through a creative block, are not relevant, are scandal ridden, injured, incredibly virile or plain stupid. Whatever it is, that stops their guaranteed income, they realise they’re under-prepared, since they were unwittingly living from cheque to cheque.
And what’s the thing with big houses? Everytime I see one or I’m in one, I keep thinking about cleaning. Like, how the hell am I going to clean this, since I’m too cheap to hire a maid. Do you need that many rooms, unless you’re renting spaces out, are planning to populate, living with your extended family, are royalty or it’s a crackhouse, don’t bother.
*I dunno, I’m not an auditor.
Adaobi, i wil never get it. Most of these talented people are liked for their talent only. Not how many cars they have, or how designer they are, i don’t know if they realise that half the time, their real supporters could care less about what car they have and what tags they are wearing. Hitting rock bottom without even a room you can claim as your own and live in rent free after spending so stupidly those huge amounts of money is very sad. No wonder some of them end up venturing into dodgy businesses to keep up their lifestyles.