Whitney Houston is preparing for a major comeback starring alongside Jordin Sparks in the “Sparkle” remake, but it’s probably not because she craves the limelight… online sources are reporting the iconic songstress is FLAT “A”zz broke!

[READ: Spotted: Whitney Houston & Mike Epps on Sparkle Set]

The 48-year-old singer, who has overcome crack cocaine addiction, has reportedly squandered her entire fortune, which included a reported $100 million record deal.

Oh noooooo! Whitney say it ain’t so! 😯

Details below…Whitney, who was may have had a setback after she was spotted acting rather bizarre at a Prince concert last year, is said to be financially supported by her record label Arista, which has given her an advance payment on her next album.

‘She might be homeless if not for people saving her. She is broke as a joke!? says an unnamed source.

Whitney is believed to be in such a dire financial straits that she has even resorted 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.?

A spokesperson for the singer strongly denies the claims, stating:

‘That is ridiculous and not true! She stars in SPARKLE out in August which she also Exec produced. She just wrapped the film.’

Did Whitney’s 100 million dollar fortune go UP IN SMOKE??

FULL PHOTO GALLERY