Whitney Houston broke? Diva reportedly facing financial ruin

Jan 24, 2012 at 12:31 p.m. ET

Her rep denies it, but Whitney Houston's on-again/off-again battle with drug addiction has reportedly taken a toll on the powerhouse's pockets.

"Crack is Whack."

And apparently very expensive.

Whitney Houston has reportedly reached rock bottom again -- this time with her finances.

The "Million Dollar Bill" singer could certainly use a seven-figure note, according to Radar Online. The tittle tattling website cites a "source close" to Whitney, who claims the 48-year-old diva has blown through the multimillion-dollar fortune she amassed after bursting onto the R&B scene in 1983.

"Whitney's fortune is gone," says the industry snoop.

"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. She might be homeless if not for people saving her. She is broke as a joke."

The source continued, "She called someone to ask for $100. It is so sad. She should have Mariah Carey money and she's flat broke."

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Houston, a multiplatinum-selling recording artist, has struggled with drug addiction for years.

The songstress first entered rehab in 2004. She received treatment again in 2005 after an intervention arranged by her mother, gospel legend Cissy Houston.

Whitney released a comeback album to a lukewarm reception in 2009. And the singer's 2010 tour was peppered with fan complaints about her strained voice.

Houston later canceled a host of dates due to illness.

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In May 2011, the "I Will Always Love You" powerhouse entered outpatient treatment for the substance abuse issues that have plagued her for more than a decade.

She may be troubled, but Houston's rep has brushed off reports suggesting the singer is one digital download away from the soup line.

In fact, the publicist says Whitney's hard at work on her first film in more than 10 years.

Houston will appear alongside former American Idol Jordin Sparks and comedian Mike Epps in the movie musical remake of the 1976 film Sparkle, opening in theaters Aug. 10.

Photo credits: FayesVision/WENN.com