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Look you know how much we love WHITNEY – but folks the rumor mill is in overdrive about her allegedly being broke!

The 48-year-old singer – who has overcome crack cocaine addiction – has allegedly spent all of her fortune and is being financially supported by her record label Arista, which has given her an advance payment on her next album.

A source says “Whitney’s fortune is gone. 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.”

Whitney – whose ex-husband is Bobby Brown – is believed to be in such a dire financial position she has even had to resort to contacting friends for small loans.

The source added: “She called someone to ask for $100. It is so sad. She should have Mariah Carey money, and she’s flat broke.”

In August 2001, Whitney signed the biggest record deal in music history at the time with Arista/BMG, renewing her contract with the label for $100 million to deliver six new albums.

She released her last LP ‘I Look to You’ in August 2009.

I really hope this is not true but What do you think?