Monday, November 12, 2012

Toni Braxton Loses Second Home to Foreclosure


In September 2010 Toni Braxton lost her home in Las Vegas to foreclosure [click here if you missed that] and now her home in Georgia has suffered the same fate...

In the first season of Braxton Family Values most of Toni's scenes were filmed in her sprawling Duluth, GA mansion.

Welp, after missing more than 10 payments on the $1.5 million mortgage she took out in 2004 the bank has had enough.

Toni filed for bankruptcy for the second time in 2010 in an effort to save the Georgia house, but no dice.

The 11,400 sq foot, 6 bedroom, 6 bath manse is on the auction block for $1.1 million.

56 comments:

Anonymous said...

Living above her means... go borrow some money from Vince! Instead of passing him off to tamar she should've kept him for herself cus She stay taking financial ls

Anonymous said...

Damn home girl. You stay takeing a loss. I bet she the type that has a bigger heart than her pocket's. Plus trying to keep up with the Jones don't help matter's either.

Tracy love God 4ever said...

WOW, I Like you Toni, but you have to learn how to live within your means.I know it's rough out here, but IMO! you need some "Professional Help" to teach you how to manage your finances.
***************************************
Dollar bill y'all. Dollar bill y'all.
Dollar dollar dollar dollar bill y'all
It Takes Money!

This Comment Is Not To Offend Anyone Who's Property Is In Foreclosure.

Anonymous said...

Sell the gucci flatware

Anonymous said...

TECHDIVA624
Nah son, I think those medical bills probably took a chunk out of her finances as well, remember she has lupus in addition to heart problems. She definitely needs to holla @ Suzie Orman though.

Anonymous said...

she need to pay her bills and stop buying so many weaves.

Anonymous said...

good! regular folks can't hardly make it with rent being so high in atlanta. most can't even qualify for a nice 2 bedroom, 2 bath in a nice part of town.

and this heifer has made 1 million, several times over......and blew it AGAIN.

the nerve of her. showing off a house that was one step away from being on the auction block.

forgive me, i totally hate image conscious, fake as atlantans. no other group of blacks work my nerves the way they do. down there, if you don't have a house, to them, you ain't shit. half those mofo's with a house down there are behind on their mortgage like Toni and can't afford to furnish the inside and keep utilities on, yet they brag to the heavens "I GOT A HOUSE". they say it with there nose turned up. Fake ass show offs........they ain't got shit.

anyway. black celebs seem to be the only ones who are irresponsible with real estate. like i said, they like to show off ( the easy part ) but don't want to stay on top of there financial affairs. ( lazy, worried more about their IMAGE as i stated.)

ignorant. and trust me. that's what people think of Toni Braxton.

Anonymous said...

* their ^

Anonymous said...

@8:28

Lupus or any type of arthritis with not bankrupt you to the tune of millions.

Do you know how many people suffer with different forms of debilitating arthritis and remain in their homes?

Toni is ripping and running. MEDIA WHORING. She is NOT at home suffering.

Puh-lease!

Anonymous said...

oops! will not

Anonymous said...

that's sad about her health issues.

two bankruptcy filings in one year? couldn't those have been lumped all into one filing and maybe save one of the two houses? whoa, girl, what is going on?

Anonymous said...

some of ya'll need to stop with the ignorant comments and the judging. Next thing you know when she passes away ya'll will be acting differently..

Anonymous said...

@8:37

Moving to Atlanta was the worst mistake of my life. The blacks are just as you described. They aren't real. They live behind the image they create and actually believe the lies they tell. It's a city full of pretenders.

Staten Island Girl said...

and she crying over oprah. she tried to tell her

Anonymous said...

Somebody hand this woman a calculator and her balance book she clearly cannot add and subtract


-TBT

Anonymous said...

Toni better put on a mini and shake her ass a little harder on stage. She has bills to pay.

Anonymous said...

clearly oprah didnt embarrass her ENOUGH!!

Anonymous said...

Can't feel sorry for her.

Anonymous said...

well she relocated to california and probaby thought it'd be wise to let the house go instead of maintain 2 homes. Those of you who has a Hoomeowners association know what im talking about and im sure she had one. maintaining the landscaping and paying those expensive dues were just stupid for someone who wasn't going to stay in the house. she let it go and people do it all the time
her business is always in the news because we were all fascinated by her first bankruptcy but im sure its not as bad as the media portrays. lots of people give up houses all the time, shes not the first

Anonymous said...

I blame Oprah!!

Anonymous said...

@ 9:46

You sound crazy. Selling a house and losing it to foreclosure are two different things. People don't let homes go to foreclosure all the time. It will ruin your credit. If what you are saying is true, Toni would have sold it.

Live and learn....

Anonymous said...

@9:46 HUH?

Anonymous said...

@8:37 AM Thats why after doing the research imma keep my as up here in Maryland fuck uppity fake Country negroes ....as Sweet Brown says Nobody got time for that

Anonymous said...

Damn house ain't worth more than $400 thousand. Regular azz bathrooms with cookie cutter fixtures. She overpaid for that by a million. Sits on one acre? Shhhhh I have six bedrooms and one acre with a inground pool and pool house. Paid a whole helluva lot less and sleep like a king. It's called frugality, negotiating, and not getting took.

Anonymous said...

SMH I just dont see why these celebrities dont just buy a house out or build one themselves. Also i dont understand why these muthafuckas buying out big ass hotel type of mansions when it be only two to three muthafuckas living in the house or the family barely be there. Seriously what do a nigga need with 20 bedrooms and 90 bathrooms and crazy shit like that? Niggas and money do not go together. we fuck it up everytime.

dreadee said...

Sad.

Anonymous said...

Poor Toni....my girl has some serious bad luck when it comes to $$$. Like seriously either she works with the wrong greedy people or she needs Finacial Counseling. I'm sure tamar and Vince will help her out....but damn!!!

Strawberries said...

it really must be hard for some celebs to bring it down and live within their means. She could still ball(if that's her goal)if she would just humble herself a little.

She may not make what she used to but she is still upper middle class. But then again, what do you expect from someone who thinks Gucci flatware is class. ijs.

Anonymous said...

A another dumb ass pay your bills instead of blaming the world.

AnRnBThug said...

She broke up a WHOLE Basketball team in the 96’
Coming with one player and leaving with another, SMH Then found a decent Man in Curtis Martin (NFL Running Back) and He wanted to wife Her but She split on Him. Then Married a Man who She thought was caked up…NOT Had a Child with Autism and was Diagnosed with Lupus Finally filed a jacked up insurance claim then lost all Her money.
This Jock Cock Lovin’ tramp is STILL fine though (Looks & Body)If I had to nit-pick I would say She has bad skin which is a result of the Lupus

Anonymous said...

My fellow Melenated ppls.. 1)st tenet of Nature do not disparage another when one lacks all the facts. 2)One can never pay off a mortgage regardless on how much you pay or think you pay.3) Since the US bankruptcy in 1933 there are no more Allodial titles.So you can not ever own your property, unless you have a the knowledge of such. 4)Remember one can not pay a debt with a debt note(federal Reserve Note) is a debt note.People go do the research and learn the secrets they are hiding from us.Love my ppl!Dee

Anonymous said...

Damn if it wasn't for bad luck toni wouldn't have any luck at all.

Anonymous said...

@11:27 Please Preach

Anonymous said...

@10:43 my sentiments exactly! buy gorgeous small houses or condos (1-3 BR) in nice neighborhoods with shopping, restaurants, transportation, etc. location, location, location! spend $100k-$400k, do a fixed-rate mortgage with huge down payment or pay ahead - just to build a credit rating, rather than paying cash for the whole thing. live there for a while, enjoy it, then move on and rent it out if need be. if you get it right, it'll be easy to rent or sell. it's that simple. these mansion dwellers have me completely perplexed. the house cleaning, upkeep, utility, and tax expense would keep me from buying one even if i had the money.

ms mac said...

There's a certain percentage of the population who file bankruptcy the first time due to unfortunate circumstances. But those who do it more than once usually do so because they don't have their priorities straight. It rarely has anything to do with things that are outside of their control like health issues. Toni seems to fall into the category of having poor decision making skills. She just needs to get her shit together. And call it judgement if you will. But when you sign up to be a celeb and you openly flaunt your wealth when the chips are up, be prepared to receive all the exposure that comes with the same celebrity status when the chips are down.

Anonymous said...

Her husband work?!

gr8p said...

Bet her sisters don't have to beg her to make that Braxton album now! Bet her ass in the studio singing the loudest.

Oprah said...

Gucci footwear,bitch?

Anonymous said...

As fine as Toni is,ain't no way she should be broke.There are waaaaaaaay too many niggas out there who will pay for that pussy.

Anonymous said...

Should have saved the money she spent on the plastic surgery to have her nose shaped like a chewed up chicken nugget.

Maybe she'll get it together next lifetime.

-N(dot)

Anonymous said...

I like Toni but what I fail to understand is WHY she needs a 6 bedroom 6 bathroom mansion for her and her two sons?? She couldn't have gotten a condo or a townhouse or something???? That would've been financially responsible in this economic crisis.

Anonymous said...

This bitch needs to have the same conservatorship over her finances like Brittney Spears. Them bill collectors be calling her house like "IT'S MY MONEY AND I WANT IT NOW!!!!" I hope her kids don't ask her for Nooooo financial advice. She can manage a got damn piggy bank.

Anonymous said...

TAMAR SHOULD HAVE GIVEN TONI SOME MONEY IF SHE NEEDED IT IF WAS MY SISTER NO QUESTIONS ASKED..

Anonymous said...

Anonymous said...

well she relocated to california and probaby thought it'd be wise to let the house go instead of maintain 2 homes. Those of you who has a Hoomeowners association know what im talking about and im sure she had one. maintaining the landscaping and paying those expensive dues were just stupid for someone who wasn't going to stay in the house. she let it go and people do it all the time
her business is always in the news because we were all fascinated by her first bankruptcy but im sure its not as bad as the media portrays. lots of people give up houses all the time, shes not the first
9:46 AM

________________________________________________

Thank You!!^^^^^^^ these people must be super young commenting. People do let houses go into foreclosure all the time. It's been happening all over the country.

There is no reason for her to have those two homes in places she won't live. It would be more expensive for her to sell it then to let them go into foreclosure.

Her credit is not going to get messed up because one she has no credit to mess up and two when you have enough money and collateral those are your bargaining chips. Not everyone lives off credit.

Anonymous said...

simple bitch

Anonymous said...

I am so exhausted with Ms.Braxton! She is one of the great vocalist of our times but her personal life would deter talent due to her financial fuckery.

Anonymous said...

Millionaires file for bankruptcy every day. When will we learn that it's now how much money you make but how you manage the money you make. Toni needs to get her financial house in order, not just for her, but for the sake of her children.

Anonymous said...

Toni, Toni, Toni.... Sounds to me like you haven't mastered how to live within your means. You're getting too old for this kind of mess.

jazzyphile said...

Never buy a house over 5000 square feet, these 10,000 square foot homes are too hard to sell in a down economy. 5000 square feet is plenty of room for a full family and room to entertain, too booth!

Anonymous said...

Does this thang have a hidden pimp? Gambling ratchetry? Suzie Orman get to toni's stat!

Anonymous said...

Does this thang have a hidden pimp? Gambling ratchetry? Suzie Orman get to toni's stat!

Anonymous said...

Ain't that the truth @ 7:37 AM
"go borrow some money from Vince! Instead of passing him off to tamar she should've kept him for herself"

Anonymous said...

@4:26

Anyone with a mortgage or any other type of loan IS DEFINITELY using credit! WTF else do you think a MORTGAGE is?? A LOAN FOR A HOUSE!

Filing bankruptcy is all about making a deal with CREDITORS.

Houses go into foreclosure because the DEBTS on the house have gone UNPAID. Either the mortgage payments are past due, the HOA payments on a condo are past due, or the property tax is not being paid.

Toni's credit is already fucked up, but it's even WORSE now because she let 2 houses go into foreclosure.

This is NEVER a strategic move. Some idiots think they are playing the bank by refusing to pay their mortgage because they agreed to pay an inflated price for their house and now they are upside down on their loans. They may manage to save some rainy day funds from not paying their mortgage for a few months, but if they were smart, they would NOT have bought a house they couldn't afford in the first place.

People need to LEARN ABOUT FINANCE and stop spreading MISINFORMATION.

Anonymous said...

This old woman could have bought a nice sensible house in the south for under 300k . And it would have been paid off .her time has come and gone. Maybe its time for her to get an education so that she can get a real job and pay her bills like everyone else .

Anonymous said...

There is no reason for her to have those two homes in places she won't live. It would be more expensive for her to sell it then to let them go into foreclosure.

Her credit is not going to get messed up because one she has no credit to mess up and two when you have enough money and collateral those are your bargaining chips. Not everyone lives off credit.
4:26 PM
_______________________________

Rich people who pay cash for everything don't use credit because all their assets are paid for in full.

Toni Braxton was not one of those people. She was obviously financing her entire existence on CREDIT.

You will never need to file for bankruptcy when you don't have an UNPAID DEBT.

If you no longer want to live in your house, you SELL IT, or RENT IT OUT, letting it go into foreclosure is beyond stupid. How the hell can you use foreclosure as a "bargaining chip" when you had to get a loan to buy the house in the first place??? SMH at the idiocy!

People, PLEASE takes some personal finance courses or read some books on the subject. The ignorance in some of these posts is shocking.

Anonymous said...

Mrs Toni Braxton there is light at the end of this tunnel you just stay focued and everything will be alright thus people will have some bad things to say but that is okay you still have your health and kids and fam. and worth more monetary wealth than you'll ever have. so god bless you and stay strong. Your southern neighbor in South Carolina.

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