At the time of her death on February 11, there was a great deal of speculation that Whitney Houston was flat broke and living off of funds borrowed against a $100 million contract that she signed with Sony back in 2001. Well last week music-industry writer Wayne Rosso reported that certain industry insiders confirmed that Ms. Houston did not have a penny to her name and was indeed living off of a $1.2 million loan from Sony that she obtained through the assistance of her mentor, Clive Davis. Mr. Rosso also reported that after Ms. Houston parted ways with her manager/father, John Houston, back in 2003, she did not have anyone looking out for her business interests, and so many business opportunities that came her way were simply squandered or lost. This will surely leave the heirs of Ms. Houston out of luck since any loans that Sony made to Ms. Houston will need to be paid back before the heirs will see any royalties from the posthumous sale of the diva's music. Couple this with the fact that Ms. Houston did not write or produce any of her songs, and it looks like it will be a long time before her heirs will inherit anything.