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.
Bankrupt Toni Braxton
Accused of Fraudulently
Giving $53K to Husband
10/29/2012 12:30 AM PDT BY TMZ STAFF
Toni Braxton fraudulently transferred $53,490 to her estranged husband in order to avoid paying back creditors in her bankruptcy case -- so says the trustee of Toni's bankruptcy estate.
According to new docs filed in Toni's ongoing bankruptcy case, Toni's estranged husband Keri Lewis received the 5-figure sum after Toni's money was already earmarked to repay creditors.
Now, the bankruptcy trustee is suing Lewis to get the money back -- much like John Mayer was sued for $465,000 following a giant Ponzi scheme collapse in Seattle.
TMZ broke the story ... Toni filed for bankruptcy in 2010, claiming she owed between $10 million and $50 million in debts.
A rep for Braxton tells TMZ, "All of the payments made to Lewis prior to Toni’s bankruptcy filing were appropriate transfers for reasonable and necessary personal and business expenses in the ordinary course of her business."
The rep adds Toni will continue to provide the trustee whatever info is needed to address the allegation.
I Graduated From Debt School!
4/26/2011 8:00 AM PDT BY TMZ STAFF
She's broker than a joke, but Toni Braxton is now rich in knowledge ... after completing a court-ordered class on personal financial management -- and she has a certificate to prove it!!!
Toni -- who filed for bankruptcy last year claiming she was between $10 and $50 million in debt -- was ordered to complete the course as a part of her case ... and earlier this month, she got it done.
According to the certificate, obtained by TMZ, Toni passed an "Internet instruction course concerning personal financial management."
Grad party, anyone????
I May Show Some 'T&A'
1/5/2011 11:26 AM PST BY TMZ STAFF
Financially troubled singer Toni Braxton may have found a way to scrounge up some extra cash -- Toni claims she's seriously considering a "T and A" photo shoot for Playboy Magazine.
43-year-old Braxton went to her Twitter this morning and wrote, "New Year, New opportunities. So I have been considering taking up Playboy's offer to feature me on their cover this year. What you think?"
She noted the spread would be "tastefully done" featuring "Just a lil T and A."
Braxton insists Playboy has hit her up for a photo spread 3 times before -- but now that she's somewhere between $10 and $50 million in debt, the timing may finally be right.
My Vegas Show Broke Me
10/7/2010 2:00 PM PDT BY TMZ STAFF
A close relative of Toni Braxton tells TMZ ... the singer's financial undoing can be traced back to her show in Las Vegas.
The relative tells us Toni took out "show insurance" through Lloyd's of London for her act at the Flamingo Las Vegas Hotel & Casino back in 2006.
And when Toni's heart condition started to act up -- in the middle of the show's run -- she had to pull the plug, but she was still on the hook to the hotel for big bucks. Toni expected Lloyd's to cover the loss but Lloyd's didn't, arguing Toni had an undisclosed, preexisting medical condition, rendering the policy void.
In the end, Toni had to absorb a huge loss, which the relative claims sent her on a downward financial spiral.
Still, it doesn't explain the bill for the Four Seasons and Tiffany & Co., for starters ...
May Owe $50 Mil
10/7/2010 10:45 AM PDT BY TMZ STAFF
Toni Braxton has filed for bankruptcy again -- claiming she owes somewhere between $10 million and $50 million in unpaid debts all over the country ... including DMVs in TWO different states.
Braxton -- who sold more than 40 million albums in her career -- just filed for Chapter 7 bankruptcy in California ... and in the docs, the singer claims she's only worth somewhere between $1 mil and $10 mil ... but she could have up to $50 mil in debts.
In the docs, 43-year-old Braxton lists a ton of creditors to whom she thinks she may owe money... including:
-- The Four Seasons Hotels
-- Cedars-Sinai Medical Center
-- Various medical bills
-- Neiman Marcus
-- The William Morris Agency
-- Tiffany & Co.
-- Orkin Pest Control
-- The Internal Revenue Service
-- BMW Financial Services
-- ADT Security
-- American Express
-- Flamingo Las Vegas
-- Mesa Air Conditioning
-- Nevada Power Company
-- Screen Actors Guild
-- The Westin
-- Wells Fargo Bank
Braxton also claims she may owe money to the City of L.A. Parking Violations Bureau -- and the DMV in both California and Nevada.
Braxton has a storied history of financial problems -- she filed for bankruptcy back in 1998 ... and earlier this year, the IRS filed a lien against her for $396k.
10/7/2010 10:35 AM PDT BY Johnny Lopez
A couple of days after filing for bankruptcy again, Grammy-winning singer Toni Braxton showed up to the Dolphins game in Miami on Monday ... wearing some blinged out jewelry, a snakeskin bag and a pair of Louboutin heels which retail for over $800.
Being $10 - $50 million in the hole never looked so good.
Dancing with Foreclosure
10/14/2009 1:25 AM PDT BY TMZ STAFF
Pop diva Toni Braxton has been battling health problems for the last few years -- and she might need all her strength to pack up her stuff and move ... cause the bank is coming after her home.
According to documents filed last month, Braxton has defaulted on her mortgage payments -- and now Bank of America is looking to foreclose. They claim she owes $12,503.20 on a place in Century City, Calif.
Toni closed down her Vegas gig a few years back -- she may want to start it up again ... quick.
Designer Claims Braxton Bounced a Check
8/6/2007 8:29 PM PDT BY TMZ STAFF
The wardrobe designer who made costumes for Toni Braxton's Las Vegas show is suing the songstress, claiming she bounced a check for his designer duds. Un-break my bank account!
According to court papers filed on Friday, Anthony Franco was commissioned by Braxton and Liberty Entertainment, Inc. to design the entire wardrobe for Braxton's "Toni Revealed" show. Franco claims they agreed on a price of $35,000. Franco alleges that he received payment by check, which was returned for "insufficient funds." He then alleges the defendants put a stop payment on the check.
In the lawsuit, Franco claims he was eventually paid $20,000, but there is still a $15,000 balance. Braxton's show at the Flamingo Hotel began last August and is still going strong.
Calls to Toni Braxton's rep and attorney for comment were not immediately returned.
Million Dollar Baby
9/1/2006 1:02 PM PDT BY TMZ STAFF
With tickets starting at $69, it doesn't cost a fortune to see Toni Braxton's Las Vegas show "Revealed," but her mic sure does.
Braxton has struck a deal with The Giantto Group, a high-end jewelry company, to use their one-of-a-kind Million Dollar Microphone (TM) throughout the run of her show.
The mic is made of white gold and encrusted with 650 karats of diamonds ... enough bling to make even Diddy jealous.
Regarding the pricey prop, the six-time Grammy winner, who filed for bankruptcy in the 90s, said "It's so extravagant, like taking a bath in Dom Perignon. I love it!" Bathing in champagne? That's not extravagant -- just stupid!
"Revealed" runs through March 2007 at the Flamingo Las Vegas.