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According to a new report, the Real Housewives of New Jersey star, Teresa Giudice’s home is set to go into foreclosure.
The report alleges the bank has started the procedure of foreclosing on her NJ mansion. A legal document is shown detailing the beginning process of a foreclosure. It is dated 10/16/2009.
Teresa was shown on the first season of the show moving into her mansion, and spending thousands of dollars furnishing her new home.
Teresa’s husband, Joe Giudice, also happens to be in the construction business which has been hit hard by the recession.
UPDATE: RadarOnline is confirming this is true. The foreclosure papers were indeed filed.
UPDATE #2: According to the NJ Star Ledger, the foreclosure is for another property owned by the Giudices, and not for their mansion. Their mansion is still safe, for now at least.
I don’t care where they are from, OC, ATL or NJ…they are all a bunch a fake frauds. Remember how Teresa said it would be disgusting to live in a house that someone else lived in…wonder what it will be like to live in a rental??? Better get back to pimping out her kids for some ca$h!
I agree Lydia C. Living beyond their means and talking all that crap. I laugh at their expense though. This is funny to me. You want to portray something you are not, then shiyat bites you in the romp. I am gonna laugh as long as you signed your life over to Bravo.lol. They are role models for no one at least they should not be.
Have mercy… I wonder what Danielle is saying?
No matter what I hate to see this happen to her (or anybody). Teresa was my favorite house wife.
I always knew she such fake with her comment about how it was “gross” to live in a house that someone lived in…..like she thinks she is too good for everyone.
Funny how now she will probably be living in a rental,lol. I don’t feel sorry for people like her. She is a classless idiot who had no reason to flip any table or behave the way she behaved, she always acted low class.
Her husband seemed like a mafia thug or something, just strange. Maybe they will wake up to reality and live in the real world and get real jobs.
Reguardless of who you are, it has to be a terrible feeling to be kicked out of your own home, especially one that you thought was your dream home.
Most of us live on a budget and aquire the nicer things in life year by year, not all at once and over burden ourselves. Maybe Joe didn’t tell Teresa the true state of their finances, maybe he was afraid she’d flip him accross the table. Either way, they have 4 young children and their lives are gonna be turned upside down.
I think the moral of the story is, If Bravo comes a knockin’….RUN
PS…. I wonder why “the family” isn’t helping Joe and Teresa save their home, wasn’t it Carolyn who said “Our family, we’re as thick as theives” ?
Yikes, guess that’s what happens when you live so FAR ABOVE your means and don’t have any emergency money put aside. I am sorry but I cannot feel sorry for someone who looses a possession they could not afford in the first place. Regardless, a nice housewife or not, I think it’s time that Teresa learn that she is no better than all of us. She CAN live in a house that has been occupied prior to her! You go girl, your just like one of us in this economy…..DAMN BROKE!!!
With a 50 year mortgage on the house it’s no wonder they’re in foreclosure. The average mortgage is 30 years, chances are they didn’t qualify for a 30 year mortgage with their DTI (debt to income) so they applied for a 50 year term. Anyone could see this coming, except those two.
Teresa and Joe owe other people as well, chances are the mechanics leins filed during last season have already turned into judgements unless they’ve been paid which I highly doubt.
They needed a 4th child like a hole in the head, the last I heard they hadn’t paid the fertility clinic.
Maybe they can be roomates with Danielle.
Times are tough all over I agree with all the comments over the things she said and did, its just sad, you see someone with handfuls of money, then this happens we are all vulnerable
But isn’t this what happens with all the housewives, their houses going into foreclosure? Maybe its in the script or the show runner makes them do it?
Regardless of what she has said or how she spent money in the past or whatever, she is losing her home,and to me that is very sad.It is sad for anyone that is going through this no matter what the circumstanses are.
Tootsie, you said it perfectly and quite hilariously too!
Kiss My Tiara (love the name) A 50 year mortgage speaks volumes! WOW! Never even knew that option existed.
This foreclosure is for a piece of land she owns in a neighboring town. This has nothing to do with her home.
Check out New Jersey Star Ledger.
Thank You Jersey Girl All is well with her and her mansion.
If you are getting foreclosed on a piece of land then you certainly cannot afford a mcmansion. Not buying it.
Bravo’s Real Housewives Series sure have a curse on their reality stars. Here’s a list of the cursed.
Real Housewives of Orange County:
Jeana Keough – Foreclosure on 4 homes
Lynne Curtin – Evicted from rental home, a $5,000 debt
Tamra Barney – Home in shortsale
Slade Smiley (Jo’s ex boyfriend) – Foreclosure (Coto home)
(Note: Jo De La Rosa is not working as a bartender after living such a glamorous life. So sad!)
Tammy Knickerbocker – Foreclosure (w/ex husband after his co. went bankrupt)
Vicki Gunvalson – Newest house for sale (so broke she could not wait for the market to get better to sell!)
Real Housewives of Atlanta:
Lisa Wu Hartwell – Foreclosure (Downsized)
Sheree Whitfield – Foreclosure (she “thought” ex-husband was paying her mortgage!!! How laughable!!!)
NeNe Leakes – Evicted from rental home, a $6,000 debt
Real Housewives of New Jersey:
Teresa Giudice – Foreclosure (Newly built, only lived there a few months. Damn, so sad for you!
Real Housewives of New York:
Danielle Staub – House for sale in this pitiful market (ex-husband refuses to pay)
Countess LuAnn de Lesseps – After husband found a new woman, she is leasing her NYC home and is selling her Hamptons home”s” in this terrible market
Jill Zarin – Selling NYC Condo and Hamptons home and Renting Zarin’s fabrics in this desperate market
Kelly Bensimon – Selling Hamptons home. Yet another broke ass who needs to sell and is desperate!
Correction:
Note: Jo De La Rosa is “now” working as a bartender after living such a glamorous life. So sad!
Danielle Staub is a New Jersey “housewife”, not NY. And I read that The Brownstone, owned by Caroline Manzo’s husband and brother in law is also in financial straits.
Maybe Caroline and Dina will end up working at Albie’s topless car wash?
Tootsie: Caroline and Theresa are not related so Caroline’s statement that her family is “thick as thieves” wouldn’t apply.
Lynne Curtin has actually been evicted from two rentals, not one.
TMZ reported on both evictions earlier:
http://www.tmz.com/2009/09/06/real-housewives-orange-county-lynne-curtin-eviction-evicted
Carolyn & Teresa are not sisters, she is a friend of the family.
Backoff her!! If anyoff you knew what really happens with million dollar properties and banks!Did anyone think that it could be the bank in trouble!!!!! ohhh yes!! usually it is!!!!! research your information before you start slandering someone that is trying to have a home and be a mother!!!!
Back off her!!! Only if you knew how banks handle million dollar properties when the Bank is the one in TROUBLE!!! ohhh yes!! please research before making judgements on someone trying to have a home and be a mother!!!
Back off her!!! Only if you knew how banks handle million dollar properties when the Bank is the one in TROUBLE!!! ohhh yes!! please research before making judgements on someone trying to have a home and be a mother!!!——————–
STFU idiot. Yes, banks ALWAYS foreclose on people who pay their mortgage when they (the banks) themselves are in financial straits. *rolls eyes* Hey makes perfect sense to me. And BTW…learn to spell. Kim honey, you are a true moron.
How about instead of the 2 line update on the bottom of this article stating its not true, you remove this false story altogether. ITS NOT HER HOUSE – no story here. There should not even be an article. No need to gloat!
No one has the right to judge anyone. This is an extremely bad time for a lot of people. It is wrong to make comments about people lossing their homes. That has to be one of the worst things in the world to have happen, and it doesn’t mean that you are a bad person or a loser. So many people have lost their jobs in the past year. I work in Real Estate and I see it all the time. It is very sad. And you all should remember anything can happen to anybody at anytime. Just be happy it is not you!
Money comes and go, friends come and go, house you can always buy, You have your health and your family, you have everything. Teresa and Joe very good people. Life is learning from mistake.
tHAT’S WHAT HER BROKE-ASS GETS, INSTEAD OF TRASHING dAINELLE, SHE NEEDS TO FIND A JOB!
When you live so far above your means your deck of card house and everything else will come crashing down around your ears. How sad that this family, especailly Theresa was a free spender who had no concern for tomorrow.
In today’s rough economy to go out & constantly buy things using “plastic” is really stupid. The bills come in at the end of the month each and every time you use credit cards and they have to be paid.
The family gave a 9 yr old an over the top birthday part to “impress” her little friends? It was easy to see the jhurt & jealousy on Gia’s sister’s face during the airing of this show.
Secondly to hire an exclusive entertainment caterer to host your “house warming party” is beyond belief.
How will these service people get paid for the alcholol and food you and your guest enjoyed? Seems like bankruptcy will cover that & you’ll walk away without paying for the parties you gave.
So sad to see Theresa with her dyed hair, designer clothes, manicured figernails & gold jewelry get away with this.
People are living on the streets & the Guidices are living like the Trumps or Hiltons.
well i guess that’s part of life but the house it fits her life style i feel bad for them beacuse it would be so hard for them to go and live in some old apartment or a house beacuse their not use to it so i hope they dig them self out form that mess but i dont know how they will, is a lot of money to begin with so good luck to them. All the prayers go for her family she made a mistake spending money i would to if i had some. Be strong Teresa. I say this beacuse i dont wish this to anyone i dont care how bad they are or how bad they act that’s their personality.
I’m not going to slander or gloat, but I simply don’t understand how Teresa could walk into a furniture store and do the shopping she did and then lay down 120 or more $1,000.00 dollar bills for the furniture she bought that day.
Where did she get the money for it? How can she spend cash like it’s growing on trees? There have to be assets or money hidden someplace in order to do that. Most banks don’t have the huge bills sitting around just to hand out a 100 or 200 of them.
I know because I wanted to get a few to buy something and I had to wait for a certain time for the vault to open and they didn’t even have all that many 1,000 dollar bills, I had to take some in 500 dollar bills, so how does Teresa who probably can’t even get a cash advance at her bank as her credit line would be tapped out, get all this money to shop?
And how can people from the auction place have valued her 120,000 dollars worth of furniture for her home at 52,000? That’s less than 1/2 of what she spent and we’ve watched her shell out big bucks for jewellry, why don’t they just go over the tapes and count up what Teresa has spent over the course of the season? That might give them a more accurate assessment of what things are worth, unless they are being paid to undervalue everything.
Lor? Have you ever watched Teresa shopping? She has told us time and again, she doesn’t use credit cards (I believe she even stated she doesn’t have any), she pays cash for everything.
poster commented that teresa has said on the show she doesnt use credit cards. she paid tens of thousands in cash shopping for ugly furniture for her classless mansion becus hubby joe takes cash payments for his construction business in order to hide his income from the government. the guidices were in serious financial trouble when teresa had to take her big italian vacation. who has little girls wear frilly dresses and fancy shoes to walk the streets and hills of italy? do those children own a pair of tennis shoes? and who takes their kids when everyone else wants an adult get-a-way? teresa deserves all this financial mess SHE has brought to her family. i hope she has to live in a small rented apartment! now she thinks she’s some big star demanding a raise from bravo. hope she gets kicked to the curb. what a loser.
i dont’ feel sorry ther them it is her she just has to put up a front in spending money like its water, poor joe feel sorry for him, who is she trying to impress??? or trying to keep up with the jones, an old saying