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While the sixth season of the Real Housewives of Orange County has yet to air, one of the new housewives, Peggy Tanous, is already making headlines for the wrong reasons.

According to the OC Register, Peggy recently defaulted on her home, pictured below.

The home, which was purchased in 2006 for $1,379,000, has a default notice dated Nov. 16, 2010, with records showing the amount in default at $190,713. The loan was for $1 million.

Peggy, a 41-year-old former bikini model and stay-at-home mom, is married to Micah Tanous, who is described as an Internet marketing entrepreneur. Oddly enough, the couple is friends with Jim and Alexis Bellino, who are also currently facing some home loan troubles of their own.

If you recall, the Bellinos also defaulted on their home loan twice last year which led to a foreclosure and some auction dates which Jim and his lawyer were able to get postponed.

The latest auction date, which was set for Feb. 10, did not take place as lender JPMorgan Chase simply canceled the auction and the foreclosure proceedings. Michael York, a lawyer for the Bellinos reveals they were able to come to a deal with Chase.

As for what happens next, the 6-bedroom house is still being offered as a short sale, or for less than what is owed on the loan, with a asking price of $3,395,000.  The listing details show that the Bellinos have put over $6 million into the home.

And despite the fact that his clients defaulted on a home loan twice and were in foreclosure, York denies Alexis and Jim are having any financial problems in the statement below given to the OC Register.

“Some media reports have speculated that Mr. and Mrs. Bellino are having financial problems, which have resulted in issues between them and Chase. The speculation is inaccurate. Mr. and Mrs. Bellino do not have and have never had financial problems, and the issues between them and Chase are due to good business decisions that Mr. and Mrs. Bellino have made, not financial problems.”

Right… The Real Housewives of OC – Like the Real Housewives of Beverly Hills, but without all the money.

TELL US – THOUGHTS ON THE LATEST NEWS INVOLVING PEGGY AND ALEXIS?

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