IFWT_R_Kelly_Owes_Chase_Bank

It’s your boy Kelz again, in some hot water, AGAIN. The longtime musician has not had enough bad things happen in his life to the point where he’d figure that he would get his s**t in order. Or maybe, he just doesn’t give a damn. This time, a debt to the tune of $2.9 million might straighten him up.

Details after the jump.


JaaiR (JR)
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In 1999, the “Bump N’ Grind” artist from the ground up built an 11,140 square feet mega-mansion in Olympia Fields, Illnois, in which he took out a $3.5 million dollar loan for. In 2011, J.P. Morgan Chase Bank filed a lawsuit against R. Kelly after he refused to make his monthly mortgage payments. They were looking to gain $2.9 million plus foreclosure on the home. After Kelz tried to sell the home for $1.59 million – due to the economy dropping a bit – and failing, the bank got their wish on the foreclosure. During the auction, the home was then sold back to Chase Bank for $950,000. Talk about a lose/lose situation.

In addition to still owing the bank $2,922,202.99 – for the original lawsuit he’d taken out, plus interest – R. Kelly owes both state as well as federal taxes. Oh boy…

[via]