Whitney Houston Broke? Sources Say Fortune Is Gone

This summer, Whitney Houston returns to the big screen with 'Sparkle,' and if gossip reports are true, her comeback can't come too soon, AOL Music reports. According to the Daily Mail, the singer and actress has burned through her entire fortune and must now depend on her label, Arista, to keep her afloat.

"She might be homeless if not for people saving her," a source told Radaronline.com. "She is broke as a joke."

The news comes roughly a decade after Houston re-upped with Arista for $100 million -- then the largest record deal of all time. In subsequent years, she fought public battles with drug addiction and weathered a disastrous marriage to Bobby Brown, who she divorced in 2006.

"She called someone to ask for $100," the alarmist tattler added. "It is so sad. She should have Mariah Carey money, and she's flat broke."

Before you reach for your checkbook, consider this: A rep for the 'I'm Every Woman' singer has denied the story, insisting rumors of Houston's financial hardships have been greatly exaggerated.

"That is ridiculous and not true!" the rep told the Daily Mail, explaining that Whitney both starred in and executive produced 'Sparkle,' which co-stars Jordin Sparks and tells the story of a '60s girl group struggling with fame.