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 4 of 6)

tygoode1 Oct 8th 2010 10:27AM

This is really a tragedy. My heart goes out to this extremely talented woman and her family.
And after reading some of the comments, I think that people need to get their facts straight before commenting. Toni Braxton never made millions and millions of dollars. She had to file bankrupt early in her career because she claimed to have been cheated out of money. That's the reason she left her original label in the first place.
However, she and her family are in my prayers and I hope she doesn't give up hope. When there's a will...there's a way!!

sarah Oct 8th 2010 5:29PM

If she never made it, why did she spend it? Perhaps it's time for Americans who thrive on credit to wake up! When people file for bankruptcy, Joe citizen gets to ultimately foot the bill. Not cool!

max Oct 8th 2010 10:27AM

As for Toni's MS and illnesses, and her child being autistic, my heart goes out to her. However, according to the article yesterday about her, many, and I mean many corporations lent her credit when she knew full well she would not be able to pay it back. She had already filed for bankruptcy once. So, considering that, she fell into the same trap as before. Her fault and the fault of the companies that extended her credit. That being said, I do hope she can bounce back from her medical problems. I have a step brother who is autistic, so I know how taxing that can be on someone.

cliff turner Oct 8th 2010 11:24AM

What the hell, Donald Trumph has filed bankruptcy several times, and he is thinking about running for president in 2012.

sarah Oct 13th 2010 11:48AM

It's a strange World, isn't it? Politicians, big corporate owners, entertainers, athletes--- they are a sad lot. And whose to blame for their big salaries and inflated egos?

mdmacplus03 Oct 8th 2010 11:25AM

Debts to Neiman-Marcus, which is a luxury specialty retail department store, (and not a hospital supply store for Toni's medical needs or her autistic child's) so this shows she is not trying to pinch a penny to save her properties or assets and while she may be ill with MS and have a child who has special needs it doesn't explain her lack of common sense for investments, a lack of savings, not having a top notch medical insurance plan (she certainly could have afforded one with the money she pissed away on luxury items she really didn't need). Having to have all the "Bling" and attention is how she got this screwed up so when illness did strike she was already in debt and behind the power curve with no where togo but down and I while I feel sorry for her health problems in her family, I have no sympathy for her finacial woes. As ther saying goes "Piss Poor Planning On Your Part, Shouldn't Constitute An Emergency On My Part", pay your bills Ms Toni!

Bisbee15 Oct 8th 2010 11:27AM

MissBurdines has the best post here and to followup on her background info on Toni, she is from Bowie, Maryland, her father (I read) is a minister and she has a younger sister who sings professionally. True, she has had lots of ailments and it's always sad to see failure in a person who started out with so much promise. We don't know what the future holds, so it is always best to pay the IRS and to live BENEATH our means. The last thing I read about Toni is that her husband had filed for a divorce. There's a song that goes "Nobody wants you when you're down and out." Well, so much for "better or worse."

jbigmacdaddy74 Oct 9th 2010 6:56PM

This is why the housing problem became si bad--people like her who lived above their meens and stuck the people who live within their meens with the bills.I don't care if she has to live in a little house like the rest of us do( If were lucky )

Beth Oct 8th 2010 11:44AM

THAT HOUSE IS CREEPY!!

Hi Todd Oct 8th 2010 11:44AM

Dance on a pole bitch!

Beth Oct 8th 2010 11:45AM

CREEPY HOUSE

gemini1372 Oct 8th 2010 11:50AM

How is it, this woman gets to file again! for the amount that it is....so in another 10 years she will file again, meanwhile racking up another how many millions..there needs to be a limit somewhere!!!

nickerson Oct 8th 2010 11:51AM

Where do I shed my tears, she could call Oprah and get the bucks, or call TIGER WOODS, they will take care of her and at last grasp call OBAMA or MICHELE, I'm sure they would take care of her, they love spending the tax payer money, look at all those checks they sent out to their dead voters.

bakermf465 Oct 8th 2010 11:52AM

Even though Toni Braxton had many hit records she did not write and produce her own music. Artist who write and produce their own music tend to keep a majority of their earnings. But when a artist only sings -- they only get paid a fraction of what some artist make. Even though she probably still earned millions -- I doubt she made enough to keep the lifestyle that she was living. And since she hasn't had any recent hits it's most certain that she wasn't making enough money to keep up the lifestyle to which she became accustomed. What these artist should do is invest wisely because their talents are limited to singing and better singers come along. Because even though Toni Braxton made some decent records I don't think she'll go down in history as one of the greatest singers of our time and Hammer has definitely seen it's day.

Marla Oct 8th 2010 11:56AM

lyricalone17 Oct 8th 2010 12:17PM

Toni Braxton has a Autistic child. Anyone who has a child with Autism knows they need allot of time and attention, that's why she hasn't worked much. I am the grandparent of a child with Autism and he is a 24 hr. a day job.

JEB BUCKINGHAM Oct 8th 2010 12:39PM

Another rich celebrity that spent,spent, spent, instead of saved, saved, saved. Ahhhhhh.......too bad.

Louis Oct 8th 2010 1:22PM

My heart goes out to Ms. Braxton. When you have so much talent and so much fame, yet you lose everything---------something really painful is going on. Heaven only knows what it is costing her to raise an autistic child, to seperate from a spouse, to have health issues, etc. Ms. Braxton is loved and respected and will rise above her pain.

Fred Thomas Oct 8th 2010 1:23PM

The richest man in America lives in a home he paid less than $40,000 for 40 years ago. I am amazed at entertainers and athtelics that puchase 50 million dollar homes. I guess it is to make some female happy, but that is stupid. What about Scottic Pippin buying his own Jet. That too lead to bankruptcy. Money should allow you to live good and in reasonable luxury, but these people need someone other than Lil Wayne as an advisor. Joe Louis had an excuse. He did not know any better and racism and ignorance was rampid. There are no excuses now, except stupidity.

Pam Oct 8th 2010 1:57PM

Please remember that alot of these celebrities have other people handling their money. Yes, she made millions, but I'm sure she didn't file her own taxes or handle the other day to day cares that common people are concerned with. More money, more problems. That includes FiCA. Think about it. When you do a little overtime they eat up your check. In Toni Braxton's case, she is a breast cancer survivor and has a child with autism. She is very proactive in the fight against both issues. She's not some spoiled, bratty- ass, cocaine snorting, drunkard type diva! She actually has a brain and morals and doesn't flaunt her riches in the face of others! She is a real celebrity with real issues!

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