Toni Braxton Singing Foreclosure Blues
Toni Braxton has certainly seen better days. The singer was just slapped with a foreclosure notice on her Century City, California home.
Braxton owes $12,503.20 on a defaulted mortgage payment based on a loan from Bank of America. Most recently, Braxton defaulted on a $900,000 loan from City National Bank, and pledged to pay it back in November. According to the bank, they haven’t gotten a check since this April.
Braxton, whose loan balance was renegotiated to $657,567.54, now owes around $44,000 in interest. The 40-year-old singer took out the loan due to “financial difficulty.”
The singer also fell on rough times in the late ’90s, when she was forced her to file for bankruptcy after falling close to $4 million in the hole.
Braxton’s foreclosure notice was filed last month. –Linda Hobbs