FORECLOSURE???? INSIDER CLAIMS KELLY ROWLAND CAN'T SELL HER MIAMI CONDO ... UNLESS SHE TAKES A $500K LOSS

December 16, 2008. Will R&B singer Kelly Rowland be the next person to fall victim to the housing bubble? MediaTakeOut.com has learned that R&B singer Kelly Rowland has been desperately trying to unload her Miami condo for close to a year - and now she faces a tough decision - take a $500K LOSS or let the bank foreclose!!!

MediaTakeOut.com EXCLUSIVELY spoke with a person familiar with Miami Real Estate. And the insider, who spoke to MediaTakeOut.com on the condition of anonymity, claims that Kelly has been trying to sell her condo for more than a year - all to no avail.

And it gets worse. You see, Kelly bought the condo in 2005 for $1.9M. But now ... it's worth as little as $1.3 Million. The insider told MediaTakeOut.com, "In this market I don't think she could sell [the unit] for anything more than $1.3 million." The insider continued, "That's a big loss to take. Many people in [this area] facing the same choice have let their homes go into foreclosure."