Toni Braxton Faces Foreclosure

by Elizabeth Fairview | October 26th, 2009

Toni Braxton has fallen on hard times. (AP Images)

Although the financial climate is slowly improving for some, Toni Braxton is still reeling from the economic downturn – and was just given a foreclosure notice on her Century City, California home.

TMZ reports that 40-year-old Braxton owes $12,503.20 on a defaulted mortgage payment and faces foreclosure. Although that doesn’t sound like too much money, especially for a celebrity, Braxton recently defaulted on a $900,000 loan from City National Bank. Although her loan balance was renegotiated to $657,567.54, she hasn’t made a payment since April and now owes around $44,000 in interest. Braxton reportedly took out the loan due to "financial difficulty."

The singer also fell on rough times in the late '90s, when she filed for bankruptcy after falling close to $4 million in the hole. Braxton was a member of the Dancing with the Stars cast in season 7. Get all your Dancing with the Stars odds in the Bodog Sportsbook today. If you need an account, join Bodog now.