Three-time Grammy Award-winning singer-songwriter R. Kelly has not paid the mortgage on his 11,140 sq. ft. mansion in Olympia Fields, Ill., in more than one year, according to ChicagoRealEstateDaily.com.

As a result, J.P. Morgan Chase has filed a foreclosure notice on the luxurious two-story home, which “sits behind an imposing gate on a 3.7-acre site” and “features six full bathrooms, seven half-baths and a four-car garage,” among many other amenities.

Kelly, who purchased the south suburban Chicago estate more than a decade ago, has to get current on the $2.9 million outstanding balance or risk having it repossessed by the lender. Its current appraised value is estimated to be $3.5 million.

The report indicates that Kelly has not lived at the home for more than a year and made a deliberate “strategic default’ decision, hoping to trigger a loan modification by defaulting on the loan. It doesn’t appear, at least for now, that a loan modification is in the works for the “I Believe I Can Fly” crooner.

Throughout his career, Kelly has amassed an impressive library of hits as a singer, as well as a record producer. He should be, by no means, strapped for cash. However, the 44-year-old has also had high-profile legal battles along the way, including several charges of child pornography.

Then again, perhaps he’s just not interested in throwing good money after bad on a home that he no longer wants.

Carnie Wilson, one-third of the popular Wilson Phillips vocal group, is in danger of losing her home in Los Angeles, Calif., to foreclosure, according to TMZ.com.

The report indicates that Wilson is owes her lender more than $1.6 million on the property, as well as late fees and penalties for missed payments. And if she can’t get current or work out a deal, her house will head to public auction as soon as July 21, 2011.

Wilson has responded to the report, saying that the home is “in a short sale situation” and that everything “is so great with [her] family and [her] life.” So great, in fact, that they have already moved into a new place, according to Zap2It.com.

During her time with Wilson Phillips in the early 1990s, she sold more than 12 million albums, which included three number one singles songs. Wilson, who recently made a cameo appearance in the blockbuster “Bridesmaids” film, is married with two children.

She appeared on the “Celebrity Fit Club” in 2006, hoping to overcome her lifelong battle with obesity once and for all. Wilson managed to lose more than 20 pounds on the show, but gained it back shortly thereafter.

For more celebrity foreclosure-related news click here.

If at first you don’t succeed try and try again.

Still looking for ways to cauterize the nationwide foreclosure crisis, the Barack Obama-led administration today announced another plan aimed at keeping roofs over the heads of unemployed homeowners. The latest effort is available to out-of-work homeowners who have FHA-insured loans, which is about 3,500 borrowers a month, according to the Los Angeles Times.

To put that into more perspective, the report indicates that “only 10% of some 50 million mortgage loans outstanding nationwide are backed by the FHA.”

The good news is that mortgage servicers who participate in the Home Affordable Modification Program (HAMP) will be required “whenever possible” to extend the program to distressed homeowners who qualify for the federal loan modification program, adding about another 1 million or more into the mix.

However, the HAMP candidates who qualify for the year-long forbearance could have the 12 missed payments tacked back onto their mortgage balance once they are on solid financial footing.

The report indicates that several “hurdles” are being lifted to qualify for the program, making it easier for unemployed homeowners to qualify for the assistance.

If you’re unemployed and would like to learn more about this latest foreclosure assistance program and others click here.

The housing market in South Florida took the downturn in housing hit flush on the chin. Today, it’s among the top regions in the nation for mortgage defaults and foreclosures.

As a result, home values came hurtling back to Earth — many as much as 50 percent or more from their pre-crash equity — like cosmic fireballs. That has enticed opportunistic, cash-laden investors to snatch up real estate at drastically reduced prices.

In fact, a recent report in the Miami Herald reveals that in May 2011 “home sales continued to rise, keeping South Florida on track to have its best year on record.” In addition, “in the first five months of the year, more than 23,000 homes and condos have traded hands in South Florida, one of the strongest five-month runs on record.”

While sales are clearly brisk, going in the opposite direction of national trends and actually setting records, home prices in South Florida continue to plummet. Typically, when demand increases, so does the cost of doing business.

Apparently that’s not the case in this market.

The large existing (and unknown) inventory of distressed real estate — cheap foreclosures and short sales — is likely to blame for the current situation. Ron Shuffield, president of Esslinger-Wooten-Maxwell Realty, attempts to explain it:

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