Toni Braxton has lost her home to foreclosure.
The Grammy winner has been trying to hold onto the home since filing for bankruptcy in 2010 but it has finally been put into foreclosure. According to TMZ, Braxton took out a $1.5 million loan to get the house back in 2004 but failed to make at least 10 required monthly payments between 2004 and 2010. The house is under contract as of this afternoon reports the Atlanta Journal Constitution, meaning the house is temporarily off the market.
The 11,400 square feet house has six bedrooms, six bathrooms, an acre of land, a library, a jacuzzi and a gourmet kitchen. The house has been featured on Braxton’s reality show “Braxton Family Values.” She is currently $50 million in debt and this is the second house she has lost to foreclosure. Perhaps the new venture she is pitching with her sisters will help alleviate some of her financial woes.
According to the Huffington Post, Braxton and her sisters are pitching a daytime talk show.
“Toni, Traci, Towanda and Trina are all in LA right now, pitching a talk show,” a Los Angeles TV executive said to the Huffington Post. “Think ‘The View’ but with a lot of sass! There will be the Braxton sisters’ version of ‘Hot Topics,’ called ‘Spill the T,’ plus gossip, relationships, fashion, makeover segments and celebrity guests. They have even gotten their mom to do an ‘Ask Mommy’ advice segment. A fun, fun show.”
A Braxton family friend also confirmed the news. “Toni is totally into it, as is the rest of the family,” said the insider. “They have somehow managed to secure Rob Dauber, a veteran of ‘The Rosie Show,’ ‘Oprah’ and ‘The Wendy Williams Show,’ to be executive producer and make them the next daytime hit. Plus, you know they are going to have one hell of a theme song!”