JPMorgan Files Foreclosure on R&B Artist R. Kelly
By: Cadie Thompson | Technology Editor, CNBC.com
Fame ain't no thing for JPMorgan.
The bank just filed foreclosure against R. Kelly, the best-selling R&B artist, after Kelly had not made a mortgage payment since June 2010, according to Rolling Stone.
The suit states that the principal balance on his mortgage loan for his mulitimillion-dollar home in Olympia Fields, Illinois, is $2.9 million, according to Rolling Stone. However, the Chicago Real Estate Daily reports the home is now worth less than the debt.
Check out other celebrities who have lost their home to foreclosure » Slideshow
Hat tip: Dealbreaker
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