If there's one bank that could not be characterized as a playa-hata, that bank would be JPMorgan Chase. Having said that, the House of Dimon has been forced to deliver the less than stellar news that R. Kelly may soon need to get out of his house, on account of the fact that the R&B singer hasn't made any mortgage payments on the 11,140-square-foot spread in over a year.
Lest you think the decision not to pay his mortgage wasn't entirely tactical, rest assured, it was, and everything is going according to plan.
The singer stopped making payments on the mortgage in an attempt to force the bank to negotiate a modification of the loan, according to the source.
To that end, RK may also have decided to withhold payment on the house for the same reason he didn't compensate his representation for services rendered, which is that the cash has been earmarked as hush money, as Kelly has a reputation to protect.
Last month, Mr. Kelly was hit with a $1-million lawsuit in Los Angeles by his former management firm, Prospect Park LLC. The firm alleges that Mr. Kelly withheld commissions because the money was “needed instead to ‘pay off' various individuals threatening to expose alleged illicit, embarrassing and unlawful conduct by Kelly, including sexual misconduct,” according to Prospect's complaint, which was filed in Los Angeles County Court.
Anyway, according to the foreclosure action filed by JPM, Robert owes $2.9 million, plus unpaid interest accruing at $251 a day. Should he not have the scratch, here are the details on what could/should potentially become Dimon's Chi-town crash pad.
The home was constructed in the south suburb 11 years ago by Mr. Kelly, whose hits have included “I Believe I Can Fly,” “Bump N Grind” and “Ignition.” The two-story house sits behind an imposing gate on a 3.7-acre site. The structure features six full bathrooms, seven half-baths and a four-car garage, according to the Cook County Assessor's website.