R. Kelly’s home was sold at foreclosure for over a $4 million loss. The singer’s home, located in Olympia Fields, has 13 bathrooms, and a four car garage, The Inquisitr reported on Mar. 18.
According to the report, R. Kelly’s home was sold for $950,000, but was valued at more than $5 million. The new owner bought the mansion during a foreclosure auction for a steal.
R. Kelly now joins a long list of celebrities who spent lavishly on their homes before the housing market crashed, and have since had trouble selling, and paying off their homes.
Other stars such as Allen Iverson and Wayne Newton have also have foreclosure problems with their properties. R. Kelly now owes the IRS millions, but the singer’s spokesman, Allan Mayer, denies that he’s having any financial problems.
What are your thoughts on R. Kelly’s home selling at foreclosure for a $4 million loss? Do you think he’s lying about not having financial problems?