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Real Housewives of Orange County

More bad news for Alexis Bellino and her husband Jim Bellino.

Just weeks after Jim, star of the Real Housewives of Orange County, filed for Chapter 11 bankruptcy protection for his company, the OC Register is now reporting he is being sued for fraud.

The lawsuit which was filed in Orange County Superior Court in April 2009, alleges fraud, deceit, wrongful foreclosure, breach of written contracts and other complaints.

According to the suit, Jim, his lawyer Michael York, and California Empire Funding Corporation wrongfully foreclosed on a Laguna Beach property called the InVogue Hotel. The couple behind the suit, Shashi Tejpaul and Gail Duncan, are saying that despite making payments on the property and getting a written and verbal agreement from Jim and his lawyer, they still elected to foreclose on the property.

CLICK HERE TO SEE PHOTOS OF ALEXIS & JIM’S HOME IN FORECLOSURE!

Jim, 48, and his lawyer York, who also happens to be his brother-in-law, however deny the allegations stating Tejpaul and Duncan made misrepresentations to obtain the loan, used the money for other purposes and stopped making payments on their loan.

Jim and his company have also filed a counter suit against Tejpaul and Duncan alleging fraud amongst other things.

The fraud suit against Jim is set to go to trial Jan. 10, which happens to be the same date the bank is planning to hold an auction on Alexis and Jim’s home which is still in foreclosure. The auction date was postponed to Jan. 10 after Jim filed bankruptcy protection for his company Global Marine Inc., which just happens to hold the title to the Bellino home.

The Bellinos’ attorney also tells RadarOnline that Jim and Alexis are not going down without a fight as they are now considering suing Chase Bank. “Right now we’re considering legal action against Chase, regarding the fact that they changed the terms of their loan modification agreement,” said York.

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Yet one more Housewives’ bankruptcy story to report.

The latest star to join the exclusive Bravo club is none other than Jim Bellino of the Real Housewives of Orange County.

The OC Register is reporting that just 2 days before his home with wife Alexis Bellino, 32, was scheduled to go on the auction block due to foreclosure, Jim filed for Chapter 11 bankruptcy protection for his company.

Jim is reportedly the president of Global Marine, Inc. — a single-asset real estate corporation. The 7-page document filed Wednesday at U.S. Bankruptcy Court, Central District of California states that “after any exempt property is excluded and administrative expenses paid, there will be no funds available to unsecured creditors.”

So how much exactly does Jim’s company owe? Well that is not yet clear as the bankruptcy filing simply states the estimated number of creditors is between 1 and 49, and the estimated assets of Global Marine, Inc. are between $1,000,001 and $10 million.

The OC Register is also reporting the Bellinos’ auction date on their soon to be foreclosed Newport Beach home has been postponed to Jan. 10.  The reason being due to Jim’s bankruptcy filing.  You can see photos of that home here.

When contacted by the Register on Friday for a comment, Jim said “No comment” and hung up the phone.

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More bad news for Jim and Alexis Bellino.

Following their most recent foreclosure notice, the OC Register is now reporting that the home of the Real Housewives of Orange County stars is set to be auctioned off on Friday.

The 6-bedroom, 6,400 sq. ft. Newport Beach mansion was previously set to be auctioned off back in August but the Bellinos were able to get that canceled as they got a loan modification from the bank. It now seems that loan modification might have fallen through.

“The bank changed the deal,” Michael York, the Bellino’s attorney said Tuesday of a verbal agreement that was announced by Jim back in August. According to York, no reason was given for the change.

The Bellinos also released the following statement – “We have been communicating with the bank regarding loan modification options for several months. The bank has changed its offer, and the market has further declined since August, but we are continuing to work with the bank in an effort to reach a mutually agreeable resolution.” It appears The Bellinos remain hopeful that the newest acution date will also be canceled.

While the Alexis and Jim continue to hope for a Hail Mary, the home is still listed for sale. A real estate listing from Lagunaseaside.com states “owner has over $6 Million into the property, reduced for quick sale.”

The asking price is now $3,395,000, slashed from a previous price of $4,995,000. Even if the Bellinos are able to sell their home before Friday, they would still be taking a loss as they currently owe $4,677,635.01 on their home mortage.

The 6,400 square ft. home boasts 6 bedrooms and 6 bathrooms as well as a a state-of-art kitchen, wine cellar, home theater, & large recreational area with pool table and bar. The home also includes a 6 car garage, multiple family rooms, den/office, and gym according to the listing.

CLICK THE CONTINUE READING BUTTON BELOW TO SEE THE HOME PHOTOS!

It’s deja vu all over again as RadarOnline is reporting that Jim and Alexis Bellino are facing foreclosure for the second time this year.

If you recall, the Real Housewives of Orange County stars faced foreclosure earlier this year when they defaulted on their $4.6 million home loan after failing to make $83,856.92 in payments. The Bellinos’ Newport home was in fact scheduled for auction back on Wednesday, Aug. 25. However the auction did not take place as they were able to obtain a last minute loan modification.

Well there is now more trouble. According to RadarOnline, Jim and Alexis have just received a new “property foreclosure notice” published in their local newspaper, The Daily Pilot, on Friday.

Despite the loan modification they got in August, it seems the Bellinos were still in financial trouble as they continued to try to unload the 6400 sq. ft. house, drastically slashing the price in the last four weeks. It went from $4,995,000 on November 10 to $3,695,000 on November 29.

With the addition of their missed payments, the Bellinos now owe $4,677,635.01 on their home. The new foreclosure notice means Jim and Alexis will be facing an auction sale of their mansion any day now.

The 6th season of the Real Housewives of OC is set to return to Bravo in January.

TELL US – WHAT ARE YOUR THOUGHTS ON ALEXIS & JIM’S FORECLOSURE CRISIS?

Alexis Bellino

Following the failure of Sheree Whitfield’s She by Sheree, it seems a new Bravo housewife is ready to give the whole clothing line thingy a shot as well.

That brave one is Real Housewives of Orange County star Alexis Bellino. In an exclusive interview with RadarOnline, 33-year-old Alexis reveals her new found passion for fashion while also giving the site a sneak peak into her new couture dress line brilliantly called ‘Alexis Couture.’

“I am truly inspired by Valentino and Cavalli with Dolce and Gabbana fabrics and fit. I’ve added by own personal twist,” said Alexis. “I’ve been designing my line for 1 year and I’m really excited about the results.”

Originally hailing from Hannibal, Missouri, Alexis has three kids with hubby Jim Bellino, whom she met in 2005. “I have always said that being a great wife and mother comes first but Jim is super supportive of me working,” added Alexis.

Alexis plans to release Alexis Couture dress line in January 2011, the same month the 6th season of the OC Housewives is set to premiere on Bravo. Alexis is also planning a launch party in Beverly Hills on December 2.

Some photos of Alexis modeling her new line below. You can see more photos at RadarOnline.

TELL US – WHAT ARE YOUR THOUGHTS ON ALEXIS’ LINE? WOULD YOU WEAR ALEXIS COUTURE?

Following her brief hospitalization on Thursday for internal bleeding, Vicki Gunvalson has now been released.

Despite her release from the hospital, the Real Housewives of Orange County star tells E! News that she is not feeling much better. The reason she was hospitalized? Internal bleeding due to ulcers in her colon.

Vicki also denies reports that her hospitalization was caused by anxiety from her divorce. “It’s not due to anxiety,” says Vicki. “It’s not due to a divorce. I’m very sick. I was hemorrhaging. It was very scary. I have internal bleeding in my colon, and they fixed it.”

Vicki tells E! she had surgery on Friday and is now home on required bed rest. “I’m not feeling good,” says Vicki. “They said I’ll be OK. It could flare up again, but I’m very healthy and I didn’t do anything to cause this. People just get sick. I’m going to be OK.”

E! also reports that Vicki’s soon to be ex-husband Donn Gunvalson paid her a hospital visit despite their pending divorce. “It’s amicable,” Vicki said. “We’re perfect. We’re not fighting.”

Vicki Gunvalson, star of the Real Housewives of Orange County, was hospitalized on Thursday.

According to E! Online, Vicki, who filed for divorce from husband Donn Gunvalson just a little over a week ago, was hospitalized for internal bleeding, confirms an employee from her company, Coto Insurance & Financial Services.

Though the general consensus seems to be that the 47-year-old reality star’s condition is not that serious, Vicki will remain in the hospital for further tests so that doctors can determine the source of the bleed.

Vicki’s cast-mate Jeana Keough posted the following on her facebook page yesterday – “Vicki Gunvalson rushed to the hospital, she is fine resting comfortably with her beautiful daughter by her side. Prayers always help but I am assured she is spending the night and it’s not serious, how do you say whoo hoo!”

Gretchen Rossi has lost yet another court battle to ex Jay Photoglou reports E! Online.

According to E!, a judge dismissed a large portion of the Real Housewives of Orange County star’s defamation lawsuit against Jay last Thursday.

The judge struck down Gretchen’s claims of defamation, libel and portrayal in a false light after determining that her lawyers hadn’t offered up enough evidence to prove that Jay was lying about the two of them being in a romantic relationship while she was engaged to Jeff Beitzel, who died of cancer in 2008.

Gretchen is however still allowed to pursue prior claims of assault, battery, stalking, breach of contract, conversion, intentional emotional distress, intentional interference with contractual relations and intentional interference with prospective economic relations against Jay.

Gretchen’s attorney Gregory G. Brown says he is considering an appeal. This ruling comes months after Gretchen was forced to fork over $24,000 to cover Jay’s legal fees after he took her to court for defamation.

In other OC news, Gretchen spoke out on castmate Vicki Gunvalson’s divorce to husband of 16 years Donn Gunvalson.

Gretchen told UsWeekly magazine, “I was truly sorry to hear the news.” She added of Vicki, “She’s been having a really tough couple of days.”

Gretchen shares she sent Vicki a text message of support after the announcement. “I’ve talked to a few people in the inner circle and it’s a bad situation for her right now.” According to Gretchen, the split came as a surprise. “It kind of took us all by surprise, because from what I knew…things were going well, so I don’t really know what happened. It’s very sad.”

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