‘Braxton Family Values’ Star Towanda Braxton Loses Home to Foreclosure Amid Bankruptcy
Towanda Braxton is reportedly not having the best luck financially. After filing for bankruptcy nearly two years ago, the middle Braxton sister is now facing eviction. Her home was approved for foreclosure. Some of her struggles have played out on Braxton Family Values.
The ‘Braxton Family Values’ star’s financial issues
When the reality series first began airing in 2011, Towanda was living in a Georgia rental property with her then-husband (Andre Carter) and two children. Near the end of the season, the couple were evicted after the home went into foreclosure. They moved in with Towanda’s older sister, Toni.
Related: Towanda Braxton Explains Why ‘Braxton Family Values’ Has Been On Hiatus
By season 2, Towanda and her family began living with another sister, Trina. Due to Trina’s own marital issues, she asked Towanda to move out. Towanda admitted that she “scrapped up” a downpayment for her own home, which was documented on the show.
Towanda Braxton files for bankruptcy
Several media outlets, including Yahoo News, reported on Towanda’s bankruptcy. Her Chapter 7 bankruptcy filing came in 2018, just one year after she purchased her new home.
Per the filing, Towanda listed $277,650 in assets – while claiming $547,056.39 in liabilities. Her monthly income was listed as $4,692, while her monthly expenses total $6,020. She reportedly had just $150 in the bank.
Related: ‘Braxton Family Values’: Trina and Towanda Say They Both Had Horrible Husbands
Some of Towanda’s debts included $417,715 to a mortgage company, $76k to her former landlord, $982 to Comcast, over a thousand to collection attorneys, $8,480 to Covenant Christian Academy, $6,211.30 in medical bills, $35,000 to her youngest sister Tamar, who gave her a personal loan.
Her income from Braxton Family Values could be seized under the bankruptcy to pay off creditors. She was also ordered to take financial literacy classes.
Despite her financial issues, Towanda Braxton appears to be rebuilding
Amid her bankruptcy, Towanda began establishing her own businesses, one of which was T. Braxton Skincare (formerly LadyBug Skincare). Towanda spoke to Showbiz regarding the line in a 2020 interview.
Related: Which Famous Braxton Sisters Have Been Arrested?
“I’ve always been into skincare and because I don’t drink a lot of water, I’ve had to rely on the assistance of skincare products to help keep my skin intact,” she said. “I also have skin envy and one day I was admiring actress Meagan Good’s skin and was inspired to come up with my own products to achieve a similar look.”
The line is comprised of various products, including a soap bar, charcoal wash, serum, and moisturizer.
The T. Braxton Skincare is facing eviction
Per Radar Online, a company called Rushmore Loan Management asked to seize the home and sell it to the highest bidder. In their motion, the company alleges Braxton hasn’t made consistent payments on her Snellville, Georgia property.
Rushmore claims Braxton owed a total of $460,229.52 as of January 2021. They say she’s failed to make 19 payments that were due on the note. The company estimates the Georgia mansion is worth $275,000. A federal court judge granted their request.
Braxton is reportedly still living in the home but per the recent foreclosure status, she can be kicked out of the home and the home can then be put on the market for sale.
Showbiz reached out to Braxton’s camp for comment on the matter. At the time this article was published, Braxton nor her team responded.
Source: Read Full Article