Money Problems! Is Whitney Houston Broke?

Rucuss staffJanuary 24, 2012

Whitney Houston will make her big screen comeback in the remake of “Sparkle” with Jordin Sparks.

But the income from the movie hasn’t helped her financial situation. Houston, who has overcome crack cocaine addiction, has allegedly spent all of her fortune, including a reported $100 million record deal. She’s being financially supported by her record label Arista, which has given her an advance payment on her next album, according to reports.

“Whitney’s fortune is gone,” a source told RadarOnline.com. “Music industry heavy hitters are supporting her and her label is fronting her cash against her next album, but no one knows when that will be released.”

Bobby Brown’s ex-wife is in such a dire financial position she has even had to resort to contacting friends for small loans.

“She called someone to ask for $100,” the source said. “It is so sad. She should have Mariah Carey money, and she’s flat broke. She might be homeless if not for people saving her. She is broke as a joke.”

Making a comeback: The singer/actress is set to star in Sparkle alongside Jordin Sparks when the movie is released in August

Houston signed the biggest record deal in music history, renewing her contract with Arista/BMG for $100 million back in 2001. She released her last album ‘I Look to You’ in August 2009. Her last film role was in 1996’s The Preacher’s Wife.

Houston will star in ‘Sparkle’ in August. She also was an executive producer.

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