Whitney Houston's company makes successful bid for Bobby Brown's Atlanta home

Whitney Houston's company, Nippy Inc., recently bid $240,000 for her husband, Bobby Brown's home in Atlanta which was on the public auction block.

Nippy Inc. foreclosed on the Atlanta mansion after Brown fell behind in his mortgage payments.

Nippy Inc. was the only bidder for the home at the auction held on the steps of the Fulton County Courthouse.

As part of the purchase at the foreclosure sale, Nippy Inc. is also responsible to pay off the first mortgage on the house which is about $650,000, according to the company's attorney, Thomas Weisenbeck.

"This foreclosure was part of a plan by Nippy Inc. to assist Bobby Brown in his efforts to correct some of the financial damage that he states in court papers was caused by his former business manager and accountant," said Weisenbeck.

Meanwhile, the Internal Revenue Service currently has two tax liens against the property, totaling more than $1.3 million.

The stucco and stone nine-bed-room English tudor home sits on 3.1 acres of land, with an outdoor swimming pool and multi-car garage in an exclusive section of Atlanta.

Brown purchased the Atlanta home before his marriage to Ms. Houston in July, 1992.

COPYRIGHT 1994 Johnson Publishing Co.
COPYRIGHT 2008 Gale, Cengage Learning