12/03/2012 04:00 pm ET Updated Dec 06, 2012

Toni Braxton's Bankruptcy: Singer Admits Home Decor Obsession Lead To Money Loss


Who needs money when you have a house filled with fancy flatware?

This sentiment may sound crazy but apparently R&B singer Toni Braxton felt that way as she admitted to ABC’s 20/20, her 1998 bankruptcy was largely due to her home decor shopping obsession. “I love dishes and house things, so I kind of lost it a little on housewares,” she said.

In particular, Braxton has a soft spot for china, faberge eggs and sheets -- one thousand thread count to be exact.

And though she was able to get herself out of financial distress for many years after her initial decline, her money problems returned in 2010 when she lost her Georgia home. During that time she considered posing for Playboy to pay the bills she admits, but ultimately opted against it.

But don’t feel too bad for the unbreakable singer. She currently lives in Los Angeles in a house that can be seen on her reality show, Braxton Family Values. Even her sister Traci Braxton isn't regretful of her Toni's problems. “If this is what it means to be bankrupt, sign me up” she said. “Did you see the size of that pool?”

We couldn't have said it better ourselves.

Click through our slideshow to see her former Georgia home. And head over to ABC News to read the full story.

Toni Braxton's Home

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