R. Kelly..... can not stay out of trouble.

http://news.yahoo.com/r-kelly-faces-foreclosure-chicago-area-mansion-221300440.html

I Know R Has plenty of money, he still has money from all his hit records not to mention the dozens of artists he produced. And on top of that his last album[His best since 1998's R] Went platinum without a hit single on it. So i know Mr. KElly is still rolling in the cash

[Edited 7/13/11 2:50am]

Gunsnhalen said:

R. Kelly..... can not stay out of trouble.

http://news.yahoo.com/r-kelly-faces-foreclosure-chicago-area-mansion-221300440.html

I Know R Has plenty of money, he still has money from all his hit records not to mention the dozens of artists he produced. And on top of that his last album[His best since 1998's R] Went platinum without a hit single on it. So i know Mr. KElly is still rolling in the cash

[Edited 7/13/11 2:50am]

HOW TO SELL A MILLION REC...L $500,000

[Edited 7/13/11 6:16am]

R Kelly faces foreclosure on Chicago-area mansion

(AP) – 19 hours ago

CHICAGO (AP) — 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 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 he tells The Associated Press that Kelly isn't in financial trouble.

Mayer says Kelly now lives in Chicago and that his recent tour and 2010 album, "Love Letter," were successful.

Copyright © 2011 The Associated Press. All rights reserved.

I'm confused, filthy rich people have mortgages? Wouldn't they just pay cash? Am I missing something?

Gunsnhalen said:

R. Kelly..... can not stay out of trouble.

http://news.yahoo.com/r-kelly-faces-foreclosure-chicago-area-mansion-221300440.html

I Know R Has plenty of money, he still has money from all his hit records not to mention the dozens of artists he produced. And on top of that his last album[His best since 1998's R] Went platinum without a hit single on it. So i know Mr. KElly is still rolling in the cash

[Edited 7/13/11 2:50am]

He probably had to pay half of the earnings to Jive. I've seen this same story too many times. It kinda reminds me of Marvin and his dealings with Motown like despite winning the right to write and produce his own material (and even arranging the material), he still had to pay half the earnings and studio time to Motown so I could imagine R. Kelly paying Jive a good cut and probably being foolish with his own money that he just forgot to pay. It'll be interesting what develops.

He's deliberately not paying. I think he was advised by his accountant team to stop.

http://www.cbsnews.com/st...6484.shtml

trueiopian said:

He's deliberately not paying. I think he was advised by his accountant team to stop.

Strategic Default: Walking Away from Mortgages

(CBS) Despite some indications that the economy is recovering, the housing market remains a disaster area. Currently, about seven million homeowners are behind on their mortgages and that number is only getting worse.

Banks, with the help of the government, are offering some relief to homeowners who've lost jobs and just can't meet their payments.

But there's a growing number who can pay but are simply walking away from houses that are now worth as little as half of what they paid for them.

It's called "strategic default." People have done the math and decided making those monthly payments is just throwing money away, leaving the mortgage holders - the banks - as zookeepers of an ever-growing parade of white elephants.

In the past year it is estimated that at least a million Americans who can afford to stay in their homes simply walked away.

http://www.cbsnews.com/st...6484.shtml

I see...

trueiopian said:

He's deliberately not paying. I think he was advised by his accountant team to stop.

Strategic Default: Walking Away from Mortgages

(CBS) Despite some indications that the economy is recovering, the housing market remains a disaster area. Currently, about seven million homeowners are behind on their mortgages and that number is only getting worse.

Banks, with the help of the government, are offering some relief to homeowners who've lost jobs and just can't meet their payments.

But there's a growing number who can pay but are simply walking away from houses that are now worth as little as half of what they paid for them.

It's called "strategic default." People have done the math and decided making those monthly payments is just throwing money away, leaving the mortgage holders - the banks - as zookeepers of an ever-growing parade of white elephants.

In the past year it is estimated that at least a million Americans who can afford to stay in their homes simply walked away.

http://www.cbsnews.com/st...6484.shtml

Hmm....... is all i can say to that lol but good to know indeed.

Timmy84 said:

Gunsnhalen said:

R. Kelly..... can not stay out of trouble.

http://news.yahoo.com/r-kelly-faces-foreclosure-chicago-area-mansion-221300440.html

I Know R Has plenty of money, he still has money from all his hit records not to mention the dozens of artists he produced. And on top of that his last album[His best since 1998's R] Went platinum without a hit single on it. So i know Mr. KElly is still rolling in the cash

[Edited 7/13/11 2:50am]

He probably had to pay half of the earnings to Jive. I've seen this same story too many times. It kinda reminds me of Marvin and his dealings with Motown like despite winning the right to write and produce his own material (and even arranging the material), he still had to pay half the earnings and studio time to Motown so I could imagine R. Kelly paying Jive a good cut and probably being foolish with his own money that he just forgot to pay. It'll be interesting what develops.

That is true Timmy didn't think about that, it's just why Robert still does pay jive he has produced and still produces for a lot of big artists. And i know he see's a cut from that, and his album did well with very little promotion, not to mention his tour. Even with all the crap he has to pay jive sadly, i know he must have been wasting a lot of money away

Probably buying Milton and his Real Talk brothers cocktails every night

Gunsnhalen said:

Timmy84 said:

He probably had to pay half of the earnings to Jive. I've seen this same story too many times. It kinda reminds me of Marvin and his dealings with Motown like despite winning the right to write and produce his own material (and even arranging the material), he still had to pay half the earnings and studio time to Motown so I could imagine R. Kelly paying Jive a good cut and probably being foolish with his own money that he just forgot to pay. It'll be interesting what develops.

That is true Timmy didn't think about that, it's just why Robert still does pay jive he has produced and still produces for a lot of big artists. And i know he see's a cut from that, and his album did well with very little promotion, not to mention his tour. Even with all the crap he has to pay jive sadly, i know he must have been wasting a lot of money away

Probably buying Milton and his Real Talk brothers cocktails every night

I wonder if he goes to clubs "making it rain" there because if so that's just stupid. You gotta save up that money but maybe if he's purposely walking away from a house he know he can't pay, maybe just maybe he shouldn't have bought it So who knows? Money is funny.

EmbattledWarrior said:

Gunsnhalen said:

R. Kelly..... can not stay out of trouble.

http://news.yahoo.com/r-kelly-faces-foreclosure-chicago-area-mansion-221300440.html

I Know R Has plenty of money, he still has money from all his hit records not to mention the dozens of artists he produced. And on top of that his last album[His best since 1998's R] Went platinum without a hit single on it. So i know Mr. KElly is still rolling in the cash

[Edited 7/13/11 2:50am]

HOW TO SELL A MILLION REC...L $500,000

[Edited 7/13/11 6:16am]

Damn this video tells the truth, you really do get effed over big time by labels. There is tons of people in L.A i know signed to even independent labels and they go through the same B.S and there not even selling close to 100,000 records. the music industry is a dangerous place

Gunsnhalen said:

EmbattledWarrior said:

HOW TO SELL A MILLION REC...L $500,000

[Edited 7/13/11 6:16am]

Damn this video tells the truth, you really do get effed over big time by labels. There is tons of people in L.A i know signed to even independent labels and they go through the same B.S and there not even selling close to 100,000 records. the music industry is a dangerous place

Yeah that's why I admire those that have survived the odds. I'm sure Kels will be alright though if his shit's in place. Doesn't he have another house?

Timmy84 said:

Gunsnhalen said:

That is true Timmy didn't think about that, it's just why Robert still does pay jive he has produced and still produces for a lot of big artists. And i know he see's a cut from that, and his album did well with very little promotion, not to mention his tour. Even with all the crap he has to pay jive sadly, i know he must have been wasting a lot of money away

Probably buying Milton and his Real Talk brothers cocktails every night

I wonder if he goes to clubs "making it rain" there because if so that's just stupid. You gotta save up that money but maybe if he's purposely walking away from a house he know he can't pay, maybe just maybe he shouldn't have bought it So who knows? Money is funny.

All kidding aside i can see Kells doing that.... going to a club and just buying out everything. I would not put it past him at all, i was recently listening to ''R'' my favorite album of his. And on youtube i watched some videos on the making of it, he seemed to have a better state of mind then. And was more focused on work then going out and having fun, i think it's opposite for him nowadays.

Gunsnhalen said:

Timmy84 said:

I wonder if he goes to clubs "making it rain" there because if so that's just stupid. You gotta save up that money but maybe if he's purposely walking away from a house he know he can't pay, maybe just maybe he shouldn't have bought it So who knows? Money is funny.

All kidding aside i can see Kells doing that.... going to a club and just buying out everything. I would not put it past him at all, i was recently listening to ''R'' my favorite album of his. And on youtube i watched some videos on the making of it, he seemed to have a better state of mind then. And was more focused on work then going out and having fun, i think it's opposite for him nowadays.

Yeah it does seem that way.

Terrib3Towel said:

I'm confused, filthy rich people have mortgages? Wouldn't they just pay cash? Am I missing something?

Well when you have 5 million and the house costs 10 million....

HotGritz said:

Terrib3Towel said:

I'm confused, filthy rich people have mortgages? Wouldn't they just pay cash? Am I missing something?

Well when you have 5 million and the house costs 10 million....

You just reminded me of what Larry Troutman's daughter was saying about her father's finances saying that he had asked her about having two million and her saying he was rich, then his dad asked her "but what if I owe 4 million?" It's like living beyond your means if that was the case.

Timmy84 said:

HotGritz said:

Well when you have 5 million and the house costs 10 million....

You just reminded me of what Larry Troutman's daughter was saying about her father's finances saying that he had asked her about having two million and her saying he was rich, then his dad asked her "but what if I owe 4 million?" It's like living beyond your means if that was the case.

That's all it ever is whether you have millions or thousands. People want what they can't afford and they want a lot of it.

See...if he didn't have to pay them lawyers for that shit he did to them lil girls and hoochie wannabes well.....he might of had just a lil bit mo money.

SA DA TOW!

HotGritz said:

Timmy84 said:

You just reminded me of what Larry Troutman's daughter was saying about her father's finances saying that he had asked her about having two million and her saying he was rich, then his dad asked her "but what if I owe 4 million?" It's like living beyond your means if that was the case.

That's all it ever is whether you have millions or thousands. People want what they can't afford and they want a lot of it.

See...if he didn't have to pay them lawyers for that shit he did to them lil girls and hoochie wannabes well.....he might of had just a lil bit mo money.

SA DA TOW!

You sound like an idiot. Intentionally going into foreclosure doesn't mean R. Kelly is living beyond his means. I swear, people kill me with their assumptions!

[Edited 7/13/11 14:24pm]

Gunsnhalen said:

All kidding aside i can see Kells doing that.... going to a club and just buying out everything. I would not put it past him at all, i was recently listening to ''R'' my favorite album of his. And on youtube i watched some videos on the making of it, he seemed to have a better state of mind then. And was more focused on work then going out and having fun, i think it's opposite for him nowadays.

Where's your proof?

The only time I hear about him going to clubs is when he's paid to do a walk through and make appearences. I've never about him "making it rain" or just "having fun".

trueiopian said:

HotGritz said:

That's all it ever is whether you have millions or thousands. People want what they can't afford and they want a lot of it.

See...if he didn't have to pay them lawyers for that shit he did to them lil girls and hoochie wannabes well.....he might of had just a lil bit mo money.

SA DA TOW!

You sound like an idiot. Intentionally going into foreclosure doesn't mean R. Kelly is living beyond his means. I swear, people kill me with their assumptions!

[Edited 7/13/11 14:24pm]

And big booty to you too! So if he wasn't living beyond his means then why would his dumb ass intentionally go into foreclosure? Yeah, foreclosure looks real good on one's credit report.

trueiopian said:

Gunsnhalen said:

All kidding aside i can see Kells doing that.... going to a club and just buying out everything. I would not put it past him at all, i was recently listening to ''R'' my favorite album of his. And on youtube i watched some videos on the making of it, he seemed to have a better state of mind then. And was more focused on work then going out and having fun, i think it's opposite for him nowadays.

Where's your proof?

The only time I hear about him going to clubs is when he's paid to do a walk through and make appearences. I've never about him "making it rain" or just "having fun".

^ R. Kelly fan

HotGritz said:

trueiopian said:

Where's your proof?

The only time I hear about him going to clubs is when he's paid to do a walk through and make appearences. I've never about him "making it rain" or just "having fun".

^ R. Kelly fan

^ Dumbass.

trueiopian said:

HotGritz said:

^ R. Kelly fan

^ Dumbass.

^ dirty socks

HotGritz said:

trueiopian said:

You sound like an idiot. Intentionally going into foreclosure doesn't mean R. Kelly is living beyond his means. I swear, people kill me with their assumptions!

[Edited 7/13/11 14:24pm]

And big booty to you too! So if he wasn't living beyond his means then why would his dumb ass intentionally go into foreclosure? Yeah, foreclosure looks real good on one's credit report.

Oh STFU. It's evident that you lack knowledge on economics. Foreclosure doesn't mean one is living beyond their means. Even the likes of Donald Trump have faced foreclosure. If you took the time to actually read the article you'd understand that he intentionally stopped paying because the mortgage was higher than the value of the mansion.

Read my previous post about people that walk away from mortgages instead of making ASSumptions.

Hey i'm a big R. Kelly fan to but lord knows the man has more issues then Lindsay Lohan & Prince combined lol.

Hope this gets settled and he takes better care of himself, and his finances. And just lets his music do the talking

trueiopian said:

HotGritz said:

And big booty to you too! So if he wasn't living beyond his means then why would his dumb ass intentionally go into foreclosure? Yeah, foreclosure looks real good on one's credit report.

Oh STFU. It's evident that you lack knowledge on economics. Foreclosure doesn't mean one is living beyond their means. Even the likes of Donald Trump have faced foreclosure. If you took the time to actually read the article you'd understand that he intentionally stopped paying because the mortgage was higher than the value of the mansion.

Read my previous post about people that walk away from mortgages instead of making ASSumptions.

Kiss my grits!!!! He could have sold that house, rented/leased it or transferred it to his business so as not let it foreclose. He is a scammer and a broke ass.

FUCK R KELLY AND HIS DEEP SET EYES PERMANENTLY AFFIXED TO SOME UNSUSPECTING TEEN GIRLS' ASS!!!!

and his auntie too!

HotGritz said:

trueiopian said:

Oh STFU. It's evident that you lack knowledge on economics. Foreclosure doesn't mean one is living beyond their means. Even the likes of Donald Trump have faced foreclosure. If you took the time to actually read the article you'd understand that he intentionally stopped paying because the mortgage was higher than the value of the mansion.

Read my previous post about people that walk away from mortgages instead of making ASSumptions.

Kiss my grits!!!! He could have sold that house, rented/leased it or transferred it to his business so as not let it foreclose. He is a scammer and a broke ass.

A scammer?

and DEAD at R. Kelly ever being broke. DREAM ON! He receives millions in royalty checks alone for hits he wrote for himself and other artists (MJ, Whitney, Celine, Toni, etc.). Every time a song he wrote/produced is played on TV or radio he receives money.

Stay bitter and poor! I bet you were ready to throw a party before I posted about strategic default.

[img:$uid]http://i52.tinypic.com/2mh2li.jpg[/img:$uid]

^ Nah,,,,I just don't like R Kelly. Ima talk shit about him till his ass hair turns white and his vocal chords snap. How about that!?

HotGritz said:

^ Nah,,,,I just don't like R Kelly. Ima talk shit about him till his ass hair turns white and his vocal chords snap. How about that!?

Sure. That's not what you said last time:

http://prince.org/msg/8/357347

I hope everything works out for R.Kelly. He's one of the best artist of all times and doesn't get the respect he should.