Toni Braxton Loses Second Home to Foreclosure [Details]
Rucuss staffNovember 12, 2012
Toni Braxton continues to have financial woes.
Toni’s foreclosed mansion is now for sale. She tried to save her Georgia mansion by filing bankruptcy in 2010, but ultimately lost the $1.5 million home. According to bank records Braxton missed 10 monthly mortgage payments between 2004 and 2010. During her 2010 Chapter 7 bankruptcy a judge overseeing her case refused to give her mansion protection from the filing.
Toni’s mansion, which was featured on her reality TV show Braxton Family Values, is up for sale for $1.1 million, TMZ reports. The property, which sits on one acre of land, boasts 11,400 square feet, 6-bedrooms, 6-baths, a library, gourmet kitchen and a jacuzzi tub.
This is the second home that Braxton has loss. Her Nevada home was sold in 2010.
During her bankruptcy hearing Braxton claimed to have upwards of $50 million in debt with an estimated personal wealth of $1 million to $10 million. Braxton, who has been accused of fraudulently transferring money before her bankruptcy, is in debt to The Four Seasons Hotels, DirecTV, Neiman Marcus, Flaming Las Vegas, BMW Financial Services and hospitals.
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