Teresa Giudice celebrates New Years after prison release

The financial hits keep coming for Teresa Giudice! Let’s hope her memoir sells well because girlfriend is broker than broke. The latest – Teresa and Joe Giudice‘s Lincoln Park New Jersey property – used by the couple as a rental – will be sold in a sheriff’s auction. 

Teresa and Joe listed the property as an asset in their failed bankruptcy filing – the very one that caused the Real Housewives Of New Jersey stars to wind up in prison – but now the property has lapsed into foreclosure. 

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Teresa’s attorney James Leonard Jr. says the couple is not contesting foreclosure proceedings and is eager to liquidate unnecessary assets before the IRS seizes them

“They are eliminating excess and focusing on doing more with less,” he told NJ.com about the foreclosure auction  scheduled for Teresa and Joe’s “investment property.” I’m not sure “eliminating excess” is the same thing as losing your property to foreclosure, but nice spin! 

The Giudices attempted to sell the home in 2014 before Teresa went to prison, but there were no takers on the three-bedroom home they purchased in 2001 for $170,000. Apparently they stopped making payments on the loan at that time as well – and who knows if there were tenants residing in the property.

Their Jersey shore beach home was also sold in a foreclosure auction last summer. Teresa and Joe narrowly avoided having their Montville mansion fall into foreclosure as well. As for Teresa, she is making money by filming Real Housewives Of New Jersey which remained on hiatus until her release from federal prison on December 23rd. Get those checks!

Joe heads to prison on February 2 to begin serving a 41 month sentence alongside Real Housewives Of Atlanta‘s Apollo Nida. It’s a reality that’s stranger than anything around on Bravo. 

TELL US – ARE YOU SURPRISED BY ANOTHER FORECLOSURE FOR THE GIUDICES?

[Photo Credit: Instagram]

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