Bing Search

Music News

Toni Braxton loses second home to foreclosure
R&B star Toni Braxton has lost her Georgia mansion to foreclosure. The Un-break My Heart singer purchased the home in Duluth in 2004 for $1.5 million (£875,000), but she struggled to keep up with mortgage payments and bank bosses moved to claim the property in 2010, when she filed for bankruptcy for the second time. Braxton has been fighting to save the six-bedroom pad, but she recently lost her bid to keep the house and it is now set to be auctioned off for $1.1 million (£687,500) in an effort to pay off some of her debts. The mansion, which also boasted a jacuzzi and a library, was the same home featured on her 2011 U.S. reality show, Braxton Family Values, according to TMZ.com. It's the second property Braxton has lost as a result of her financial troubles - the Henderson, Nevada mansion she bought with ex-husband Keri Lewis was also sold at auction in 2010.
15Comments
Nov 21, 2012 1:48PM
avatar
Most people don't know how shrewd a musician has to be to actually succeed financially in this industry. I mean really succeed. The biz has always been run by "criminals" and that is not a euphemism.  Since most of the talent comes from a pool of poor or middle class artists they have to depend on record labels to "advance" large sums of money for anything from recording studio time to airline tickets plus everything in between. Advance means you have to pay it back. Then reading the complicated contracts is a herculean task wrought with tricky fine print. So don't come down too hard on Toni! That being said the key word in all of this is "business" and if you don't understand the business you should learn every aspect of it(the good the bad and the ugly) before you sign documents that could affect the money in your future finances...that's if your lack of knowledge even allows you to make any real money. Who knows what the real story even is!


Nov 21, 2012 1:17PM
avatar
Toni Braxton has an autistic child, so don't be so fast to past judgement on a person. We love to put people down, but you do not know her situation. Learn to let live.
Nov 21, 2012 11:17AM
avatar

Yeah, right. Come on, people!

 

Most of us in this country are struggling to find change in the couch cushions just to pay rent. ..

 

There is no excuse for someone who makes the kind of money she does to be losing two homes when a majority of Americans will never be able to afford their first home.

 

She is working, people. She is being paid. What is she doing with her money? She has obligations and responsibilities to those she owes money to, just like you and I do. Does she think that because she's a celebrity she has the right to walk away from it? You and I would be ruined for the rest of our lives were we to default on our mortgages. And rather than 'oh pity me' articles in entertainment sections, we'd be seeing our name in the public notices section of our local

 

Her failure to take resonsibility for her own finances is arrogant, and not deserving of any sympathy. I don't care how much she makes. She should have been smarter. She owed it to herself to BE smarter. 

       This kind of behavior shows a total lack of respect for those who struggle day to day to meet bills, to put food on the table (look at what the Braxtons eat on their damn reality show) and clothes on our childrens' backs (have you seen what the Braxtons wear on their reality show?)


WAIT. This isn't a "reality" show because in no way does it reflect the reality faced by those who can't find work AND THEN lose their homes, who go bankrupt trying to pay medical bills (you think the Braxtons have to sit in a clinic for hours?)....and the infighting on the show between themselves? That's the "family" image they want to project? I'd like to believe that if I were in trouble, my family would rally around me with support, not push me out with insults and stupid banter.

 

Something my  mom always said applies perfectly here, with regards to the TWO foreclosures (how many of us can even afford one home?) IF you feel the need to blame someone else for your own preventable problems, remember "first time it's their fault, second time it's yours" ...

 

 

Nov 21, 2012 9:47AM
avatar

I feel for this woman. She has worked so hard and endured so much. I want to encourage her to stay strong. It all will work itself out. Thats only a material thing and they come and go. It caould be gone in a number a ways and you can get another. That will happen.

 

I say to others, don't judge her. I watched the documentary styled episode and she told this story. Her illness created this issue not irresponsibility. I bid her good-health, peace, and patience. Pray with her-----dont speak against her.

 

That's Real Talk.

Nov 16, 2012 2:37PM
avatar
Maybe she's getting bad financial advice.  Of course, moving from a high-to-lower standard of living is harder than it sounds, but it can be done.  Time to bite the bullet Ms. Braxton.  Owning several homes is not an option when only one is necessary.  Buy more homes after your financial situation improves.  Sue the heck out of anyone who either directly or indirectly caused this mess.  Financial Advisers, Lawyers, Banks ~ excuse no one.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?
more on msn music
Miranda Lambert/Pharrell Williams/Janelle Monae
See highlights from this summers' biggest current tours and festivals
Ed Sheeran: From touring with Taylor to a single with Pharrell, British troubadour navigates to pop's mainstream
Most memorable BET moments: Check out six highlights from the 2014 awards' nearly four hour event
Courtney on Kurt: His widow and Hole front woman reveals Cobain was "desperate" to achieve rock stardom
Prince reigns: The funk-rock-pop wizard reveals another full-length set ready to roll out for fans