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Toni Braxton

My Foreclosed Mansion

Is FOR SALE!!

11/11/2012 10:05 AM PST BY TMZ STAFF
EXCLUSIVE

1111_old_pad_launch
Another one bites the dust for bankrupt Toni Braxton ... the singer's Georgia mansion -- the one she desperately tried to save from foreclosure -- is officially up for grabs to anyone with a spare $1.1 million.

Braxton took out a loan for the Duluth, GA crib back in 2004 for $1.5 million -- but according to the bank, she failed to make at least 10 monthly payments between 2004 and 2010.

As TMZ first reported, the singer filed for Chapter 7 bankruptcy in 2010 -- during which time she tried to save the home from being sold off. It didn't work. 

Here's what she's losing ... 11,400 square feet,  6-bedrooms, 6-baths, an acre of land, jacuzzi tub, gourmet kitchen and a library.

FYI -- This is the second house Braxton lost to foreclosure. Her Nevada pad was sold off back in 2010.

And Fun Fact: The house was featured on Braxton's reality show "Braxton Family Values." Safe to say they won't be holding any reunion specials there.

78 COMMENTS

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16.

summer days    

Wow. She really needs to learn how to handle money. She should sign up for an accounting class or something....

622 days ago
17.

OBAMA CLAUS     

Losing the mansion ?

No worries. Our President Will Save Us.

622 days ago
18.

northern gypsy    

i see why T.B. would be upset...it's a lovely house...perhaps some down sizing before it came to this ???

622 days ago
19.

Jannie    

Cheap, plain bathrooms. I expected a lot more for that price. The rest of the house is fine, I guess.

622 days ago
20.

BC    

what is it with these people? They all buy houses they cant afford.

622 days ago
21.

ANippyFan    

Don't judge what you don't know about. I will admit I used to quietly judge her for the things I would hear but actually knowing her story now and finding out what caused all this has completely changed my opinion.

She got sucked into a bad LaFace deal and she had a bad manager, she finally got out of that and did very well and got extremely sick and had to file for protection banktrupcy because she couldn't work and the insurance company that is supposed to cover all those expenses wouldn't pay.

She is just trying to stay healthy and get back to work and I don't blame her. I would like to see her meet up with a finance and portfolio manager but other than that she is a wonderful strong woman who has had a lot of hard breaks.

622 days ago
22.

DaveT    

Get rich from success, inheritance, or lottery wins, do the smart thing and stick it in the bank and leave it there and live off the interest in a simple life.
'Course I say that because it's easy to say, but if a million dollars dropped in my lap right now I'd wanna spend it too :D

622 days ago
23.

ANippyFan    

Everyone who's quick to down her needs to go to youtube and search Toni Braxton Inside Out and then Toni Braxton Behind the Music...Watch her story if that doesn't help you understand and feel her pain then I don't know what to say about you as a human being

622 days ago
24.

Truth    

YEA, SAW THE BRAXTON EPISODE WHERE SHE BUYS THE JOINT. SO ARROGANT AND PROUD LIKE SHE HAD IT ALL GOING ON... THEN GOES BANKRUPT A COUPLA TIMES AND THE AGENT STILL CLOSES THE DEAL. WTF. #TRUTH!!

622 days ago
25.

datruth    

Why do people need these humongous homes they cant even afford? And why do you allow someone else to be in total control over UR hard earned $$$$? smh...

622 days ago
26.

Justin    

That's not what I think of when I think of "mansion". Doesn't look all that much better than my house. Wait. I live in a 360...0 sq. ft house. Nevermind. And I own mine outright and am not a rich celebrity.

621 days ago
27.

lat    

She is the perfect example on why there needs to be bankruptcy reform! Toni Braxton filed bankruptcy 10 years ago and here she is in the same mess 10 years later. I think it's safe to say that not only does she not know how to manage her money but she spends way beyond her means. Guess who picks up the tab when people like this buy but cant pay? YOU AND I...the responsible consumers have to pay in terms of higher prices etc. to cover the bank losses! But she's still decked out in her expensive clothes, cars, makeup, jewelry.......really don't know how she gets away with being this irresponsible/deadbeat!!!

621 days ago
28.

Kimberly    

some people are learning that the EGO is an Expensive thing to feed.

621 days ago
29.

Carol222    

Toni is one of those people who get a little money and goes wild spending. She admitted that years ago in a Ebony Magazine article where she said she went out buying 600 thread count sheets and staying in $1,000 a night hotel rooms...just because she could. She spent and spent and was not responsible about it. What a shame. She needs a good money manager.

621 days ago
30.

Adriane709@tx.rr.com    

I feel sorry for Toni ain't this like the second time around for her!😩

621 days ago
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