More Financial Woes For R&B Star
6:00AM ET January 31st, 2011
Contributor : Chris G.
A Rocky Williform Company

Toni Braxton's financial hardships just continue to mount.

Braxton is reportedly facing foreclosure. According to the Wall Street Journal, the holder of Braxton’s mortgage debt won bankruptcy court approval to start proceedings against her home in Duluth, Georgia. Toni allegedly owes $1.5 million on her mortgage, while the property itself has been appraised at $1.2 million. She took out the mortgage in 2004 with Wells Fargo Bank, and the lender later transferred its interest in the debt to a trust set up to administer a pool of mortgages for investors in those securities.

According to the WSJ, Braxton earlier informed the court that she wanted to stay in the home.

Things just keep getting worse for her...