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Alexis Bellino Home Auction

We’re guessing this is good news for Alexis Bellino and husband Jim Bellino.

The OC Register is now reporting the foreclosure auction scheduled for Monday for the Real Housewives of Orange County stars has been postponed yet again. The new auction date? Feb. 10.

Though the Register adds that there’s a good chance the auction will not take place at all as Jim managed to find a technical loophole file bankruptcy for his company Global Marine Inc. a few weeks ago. The company just manages to hold the title to his house.

The 6,400-square foot, 6-bedroom house is currently listed for sale at $3,395,000, a far cry from the $4.56 million they paid in August 2007. The debt on the home is reportedly $4.7 million. You can see pictures of the home here. The Bellinos defaulted on the home loan twice last year, though they now claim they are still negotiating with the bank.

In other OC news, two weeks after a tentative ruling, an OC judge has officially ruled that Gretchen Rossi should pay her ex Jay Photoglou $40,799 in legal fees. This is in addition to the $22,000 she was also forced to pay him last May.

Gretchen had tried to sue Jay for defamation but is now just suing for assault, battery, stalking and other alleged offenses. Jay had asked for $85,000 in attorney fees, but the judge only awarded him half because a good portion of the lawsuit against him is still ongoing.

Jay’s attorney is however calling this new ruling a win. “We just keep getting victories, and we look to get more of them if she makes the decision to keep going with this case,” his attorney, Bryan J. Freedman told E! News. “We’re pleased,” he continued. “They tried to challenge the amount, they were unsuccessful, and the judge made the right ruling. And I have no doubt she’ll appeal it, and we look forward to her losing that also and paying more attorney’s fees for yet another poor decision.”

TELL US – WHAT ARE YOUR THOUGHTS ON THE AUCTION POSTPONEMENT AND THE JUDGE’S RULING?

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!

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