Toni Braxton Files For Bankruptcy, Foreclosed House Sold

by Deidre Woollard (RSS feed)
Oct 7th 2010 at 2:01PM

TMZ reported this morning that Toni Braxton has filed for bankruptcy again citing debts of $10 million and $50 million in unpaid debts with assets in the $1 million to $10 million range. Creditors include Cedars-Sinai Medical Center, the Internal Revenue Service and Neiman Marcus. She had previously filed bankruptcy in 1998. Earlier this year the IRS filed a lien against her for $396,000. One thing Toni won't have to worry about is her Nevada home, the one we checked out back in August.

The six-time Grammy winner and her husband, Keirston"Keri" Lewis bought the home in Henderson, NV home in 2007 for $2.6 million. The home was listed as a foreclosure on Realtor.com for $1.15 million. Listing pictures show that the home has been completely cleaned out. The home in the Seven Hills area of Henderson Nevada has four bedrooms, a pool, three-car garage and views of the surrounding desert. Realtor.com shows that the home was sold on September 17 for $1.060 million.

Gallery: Toni Braxton's Foreclosed Nevada Home

Tags: bankruptcy, nevada real estate, toni braxton

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Reader Comments (Page 2 of 6)

BM1958 Oct 7th 2010 6:57PM

This woman was one of the biggest singing stars from 1992-2000. How did she get so much in debt? Has she released anything new in the last 10 years? Does she still tour? How can a successful singer, fall so hard?

iviethodaurum Oct 7th 2010 7:31PM

I dont understand how you can make millions and million of dollars and find not only a way to spend it all but to rack up millions and millions more in debt.How do you do that?Why not just live in a nice house,take cool trips,drive a normal car,buy some nice clothing and basically make no dent AT ALL in your stack of money?Its like MC Hammer,that dude spent 30 million dollars or something.Mike Tyson,maybe 100 million or even 200 million.I heard mike purchased 11 bentleys for his so called buddies....wonder if any of the guys that got bentleys ever even call him anymore?Anyway,if I made 50 million dollars,Id still have 49 million 900 thousand left in the bank,Id simply pay off my house,thats it.

Genny Oct 7th 2010 8:15PM

Well said. I'm up to my eyeballs in a financial crisis w.my pissy-ant $229K condo and bills on my 3 job salary...and I read about these rich, successful entertainers...who screw it up....and this is the 2nd time she's filed bankruptsy???
And she's made millions?? If I could only make 1/4th of what she makes....I'd have all my issues solved. Go figure.

WAYNE Oct 8th 2010 6:24AM

It is not meant for you to understand.Just think you will live on this earth and never see one million dollars.You will never see the world as toni has.I bet you she can get rich again before you can

Hattie Crabtree Oct 7th 2010 8:22PM

I read that Toni Braxton's birthday is today,Oct.7 th.The house is cleaned out except for one chair.

d Oct 7th 2010 9:37PM

that's the chair she is going to sit in when she blows on the birthday candle I got for her HAHAHAHA

matthew Oct 8th 2010 12:39PM

Won't they need a table for the birthday cake?

dtyson67 Oct 7th 2010 8:46PM

It's sad that mega stars don't know or have the right people invest their money so that when their health and their children's health fails they have something to fall back on. for those of you that don't know any time you have a heart problem or have to have a heart procedure it takes a lot to over come, not to mention the costs of all the medical bills! Even the most simple procedure is over 6 figures!Depending on your condition, the down time could take months. I'm going through it with my family. Her first bankruptcy, she probably just blew the money, the second one is medically necessary.
its sad that people degrade someone before they know the facts. sometime you need to walk in someone's shoes before you throw them under the bus.

d Oct 7th 2010 9:41PM

get off the cross-someone else needs the wood

Yaya Oct 7th 2010 9:10PM

First off, Braxton looks terrible with short hair- secondly, her money problems stem from overspending- typical for anyone who spends on luxury items and not necessities. I hope she can recover at some point. What a shame though, a very bright talent gone to sh_its, financially.

d Oct 7th 2010 9:37PM

HAPPY BIRTHDAY TONI-don't care about ur financial issues-love ur music!!

d Oct 7th 2010 9:41PM

now you and her look like twins

d Oct 7th 2010 9:41PM

you and her have soooooooo much in common

Rick Oct 8th 2010 1:50AM

Everyone should be allowed to file for bancruptcy once, we all make mistakes anf financial disasters happen. No one should be able to file a 2nd time, if you don't learn from the 1st time and curb your expenses you should be held responsible for the money you spent and if you can't cover it you go to jail! Either you she did not learn from her first time through bancruptcy OR this is all part of a well planned scam to be able to keep living with all the bling she things she deserves, either way she must be held responsible.

stacy Oct 7th 2010 10:31PM

I think the divorce, being off work raising their autistic son are the major contributors. She a huge advocate for Autism and I wish her the best.
And once she figures out that she needs a real accountant... I'm available.
Lol

Earl Oct 7th 2010 11:13PM

My wife and I sold our home on the beach in California mid 2005. got 5k over asking price. retired from teamsters union and moved to arlington texas. wife and I still work fulltime. new single story 2500 sq ft home pd cash. put in pool. cash. simple home. simple life. money in bank. have always lived small but could live larger. When you get use to living within your means you do it. when you get use to living large....it's hard to change. I have always loved Toni Braxton. Beautiful. Sexy! and so Smooth. sorry it all went wrong. Hope you are physically ok. Love You Girl. Earl xoxoxo!

Rene Oct 8th 2010 12:23AM

wow, quite the mansion, I know it takes lots of moola to keep that up.

George Washington Oct 8th 2010 12:04AM

you mean she hasn't got her check from obongo yet? WTF!

klasakt Oct 8th 2010 12:04AM

Maybe if people treated the "rich and famous" like they treat the little guy the "rich and famous" wouldn't be filing for bankruptcy several times in their life, and the little guy wouldn't be picking up the tab by paying for it at the cash register. If Company A loses $5 million due to selling to "rich and famous" with very friendly terms about paying off debt or "just send us a check when you get around to it, as we know you are good for it", then we wouldn't be making up the lose with higher prices when we go to spend money .... albeit not as much as the "rich and famous" ... at Company A. Tiffany's does not lose a dime. They probably get the jewelry back and then any money they lose will be tacked onto the price of the rest of the merchandise at the store to make up for it. The price just went up to cover the lose of the first merchandise's profit for the rest of the customers going in to buy their jewelry. Can you imagine anyone of us not having a credit check when we went to buy a car or house to see if we can "handle" it financially? She has more debt then she earns. I have less debt then I earn ... or did till I became unemployed ... yet I have a credit check just to get a job. Luckily my husband has since gotten another job after losing his, and we hung on by our fingernails so we would not be dishonorable and go bankrupt. God willing, things will improve again, but we still did not have as much or more debt then our yearly income. How did she get away with it?

klasakt Oct 8th 2010 12:08AM

P.S. I like some of her songs from the 90s. I don't know what some of you people are talking about, but I think she looks very nice and classy. It is too bad people do the personal attack rather then sticking to the topic ... which in this case was bankruptcy, amount of debt, who she owed, etc. Leave the personal attacks on her person off the table.

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