R Kelly Facing Forclosure

[bri]

Seems Kelly hasn't made a mortgage payment since June of 2010 and is at risk of losing his mansion. Boo Hoo. I cannot begin to imagine the money he has frittered away over the years on drugs and frivolous expensive habits and possessions. This seems to be a trend. I was just reading the other day that Carnie Wilson is losing her home too.





http://new.music.yahoo.com/blogs/am...n-paying-the-mortgage-on-his-massive-mansion/

 

[sth]

Ok someone has to do it so I guess I will. I can't believe he pissed all his money away.

 

[bubbleheadchief]

I can not nor will I shed a tear for these fucking people. They had the world at their feet, and they expect us to feel sorry for them??? **** them.

 

[whiteevo]

Ok someone has to do it so I guess I will. I can't believe he pissed all his money away.

winner winner chicken dinner

 

[BlackHawkPaul]

Ron Kelly-- the infamous RK?

Say it ain't so!

 

[BigPete]

Ron Kelly-- the infamous RK?

Say it ain't so!

Yeah really, I thought his shit was bought and paid for.



That drives me nuts about these singer/athlete types. You have millions. Why are you getting a mortgage? Do you really need it???

 

[MassHavoc]

The how was getting a little up in the years and he lost interest.

 

[bri]

Can you imagine if those walls could talk the stories they could tell?

 

[sth]

Can you imagine if those walls could talk the stories they could tell?

Especially in the closet.

 

[bri]

Especially in the closet.

He's probably singin' "I Believe I Can Cry" about now.

 

[CaveMan]

I wonder what the house smelled like...

 

[bri]

I wonder what the house smelled like...

You interested in buying it?

 

[jakobeast]

I think it would be awesome if I got this house in my inventory. It is too far south though.



He stopped paying the mortgage to try to force the bank into a refi under the HAMP or similar program. He bought it at over 5 mill a few years ago and it has since lost about 2 mill in value. This is happening all over the nation, on smaller and larger scales.



For instance, a house that was bought in 04 for about 170k, nowadays if put on the market would maybe, if lucky, get about 125k. Missing 45k in this example to the average person making about that in a year, is a huge kick in the teeth. It really surprises me there aren't more strategic defaults.



R. Kelly is doing what many others have and will do.

 

[Spunky Porkstacker]

I think it would be awesome if I got this house in my inventory. It is too far south though.



He stopped paying the mortgage to try to force the bank into a refi under the HAMP or similar program. He bought it at over 5 mill a few years ago and it has since lost about 2 mill in value. This is happening all over the nation, on smaller and larger scales.



For instance, a house that was bought in 04 for about 170k, nowadays if put on the market would maybe, if lucky, get about 125k. Missing 45k in this example to the average person making about that in a year, is a huge kick in the teeth. It really surprises me there aren't more strategic defaults.



R. Kelly is doing what many others have and will do.

I'm curious how the banks respond to this type of default?

 

[JOVE23]

Ok someone has to do it so I guess I will. I can't believe he pissed all his money away.

/thread

 

[jakobeast]

I'm curious how the banks respond to this type of default?

From what I can tell, it is just another default. It doesn't matter to a most of them, as they try to get it back and resell it. They are a bank, not an sentient being with feeling to hurt.

 

[bri]

Jako, you should buy it.

 

[sth]

Jako, you should buy it.

I don't know about you Bri, But I believe he can buy.

 

[jakobeast]

Jako, you should buy it.

My offer is 5 bucks. I may go as high as $14.76, but don't tell them that at the beginning.