Whitney Houston has lost her fortune, it is reported.

The 48-year-old singer had amassed a substantial amount of money through her movies and hit songs like I Will Always Love You.

But RadarOnline claims that Whitney's finances are in dire straits and she is resorting to asking friends for money.

"Whitney's fortune is gone," the source told the site. "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.

The mother-of-one got help for her drug addiction last year and released a new album, but the six-time Grammy winner apparently has a long way to go before she is financially back on her feet again.

"She might be homeless if not for people saving her," the insider added. She is broke as a joke. She called someone to ask for $100. It is so sad. She should have Mariah Carey money, and she's flat broke."

Whitney stars with American Idol winner Jordin Sparks in upcoming film Sparkle which is a remake of the 1976 classic.