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Alexis Bellino

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?

A day after news broke of her divorce filing, Vicki Gunvalson of the Real Housewives of Orange County is speaking out about her decision to walk away from her marriage.

Speaking exclusively to UsWeekly magazine, Vicki, 48, sheds a little light on why she filed for divorce from Donn Gunvalson, her husband of 16 years.

“We tried,” said Vicki. “It’s just too hard on both of us.” She added: “It is amicable and we want to keep this as private as possible.”

Vicki also posted the following on her facebook page – “Donn has been an important part of my life and he will continue to be,” she wrote. “I would like to thank all of you for the outpouring of love and support that we have received.”

Also speaking out on Vicki’s divorce filing are her co-stars and her son. Tamra, Alexis and Michael had the following to say to RadarOnline -

Alexis Bellino – “This is totally unexpected, I really didn’t see it coming,” Alexis told Radar.“I’ve spent a great deal of time with them and they seemed very content with one another.” Alexis added – “Reality TV is hard on any marriage, and I will be praying for their family during this trying time.”

Tamra Barney – “I can’t speak for Vicki, but I spent some time with her in the past week or so and she’s a little stressed out and…clearly upset. But only she knows what’s best for her… It’s a difficult decision. I’m just beside myself because I love Donn and I love Vicki,” Tamra said. “My heart breaks for both of them and I truly wish them the best. I only wish they get through this without it being a giant circus. And only they know what’s going on.”

Michael Wolfsmith – “I think it’s for the best and they don’t really enjoy spending time with each other anymore and my mom’s always gone and traveling and Donn deserves someone who’s going to be at home and she deserves someone that’s going to support what she does,” said Michael. “My mom’s always gone… He’s home alone a lot, he’s just not happy and she’s not happy so whatever my mom wants to do I support.”

As we reported yesterday, the 6th season of the OC Housewives is currently filming so this divorce news will likely be on the show.

TELL US – WHAT ARE YOUR THOUGHTS ON VICKI, TAMRA, ALEXIS & MICHAEL’S COMMENTS?

It seems Vicki Gunvalson‘s love tank is completely depleted.

TMZ is reporting today that the Real Housewives of OC star filed for divorce from husband of 16 years, Donn Gunvalson, on Monday.

According to the divorce documents, Vicki, 48, married Donn in 1994. The two have no children together while Vicki’s has two children from a previous marriage — Michael, 23, and Briana, 22.

This news doesn’t come as the biggest surprise as the Gunvalsons have been shown experiencing marital problems on the Bravo hit show, though they attempted to make things work by renewing their vows back in July of 2009.

Vicki was also photographed kissing a college student earlier this year, something she described as just fun and not cheating. Vicki’s co-star and BFF on the show, Tamra Barney, also left her husband Simon Barney back in January.

TELL US – WHAT ARE YOUR THOUGHTS ON THIS NEWS? ARE YOU SURPRISED?

UPDATE – The 6th season of the Real Housewives of OC is currently filming so this will likely be on the show.

UPDATE #2 – Castmate Alexis Bellino spoke to RadarOnline stating she is surprised by the divorce news. “This is totally unexpected, I really didn’t see it coming,” Alexis told Radar.“I’ve spent a great deal of time with them and they seemed very content with one another.” Alexis added – “Reality TV is hard on any marriage, and I will be praying for their family during this trying time.”

Are the Bellinos about to become to the Real Housewives of Orange County what the Giudices are to the Real Housewives of NJ?

Perhaps. The OC Register is breaking the news today that OC star Alexis Bellino and husband Jim Bellino defaulted on a $4.6 million loan for their home in Newport Beach.

The OC Register obtained court documents which shows the Bellinos failed to pay $83,856.92 on their home loan as of April 26 this year. It gets even worse as the documents show the Bellinos faced the threat of foreclosure and having their home sold at public auction to the highest bidder.

Just how close were the Bellinos to losing their home? Let’s just say their home was scheduled to be auctioned off on Wednesday, Aug. 25.

The auction however never took place as the Bellinos were able to obtain a last minute loan modification on their home, and never had to move out.

“Chase Bank has been great to work with on my modification,” Jim Bellino told the OCRegister on Friday. “The trustee sale has been canceled, and the modification has been agreed upon.”

The 5-bedroom, 5-bathroom, 4,200 square feet home was purchased on July 30, 2007. The original loan amount was $4.5 million but because the Bellinos missed all their mortgage payments since the beginning of this year, the debt with fees and penalties added increased to $4.62 million.

The OCRegister also reports the Bellinos have been trying to sell the home for a while now, taking it on and off the market since May 2008. Their home is reportedly now worth $3.89 million.

The 6th season of the Real Housewives of OC is currently filming and is scheduled to air in January 2011 on Bravo.

TELL US – ARE YOU SURPRISED BY THIS NEWS?

Peggy Tanous and husband Micah Tanous

The new season of the Real Housewives of Orange County has started filming, and RadarOnline is now reporting there is a new housewife on the block!

Pictured above is Peggy Tanous and husband Micah Tanous on their wedding day. Radar is reporting the Alexis Bellino clone Peggy has joined the cast and has even began filming scenes with the other housewives.

Oddly enough, Peggy is said to be a friend of Alexis Bellino with insiders describing her as being “truthful and blunt” and someone “who always tell it the way it is.”

Peggy’s husband, Micah, is described as being an internet entrepreneur. Peggy and Micah have two daughters together.

Radar also adds that Simon Barney, the estranged husband of Tamra Barney, will no longer be appearing on the show. Tamra’s boyfriend Eddie Judge will however be on the show.

According to Radar, Peggy will be joining existing cast members Vicki Gunvalson, Gretchen Rossi, Tamra Barney and Alexis Bellino. Lynne Curtin’s name was left out of the list, could she be off the show? Only time will tell.

CLICK HERE FOR MORE PHOTOS OF PEGGY AND HUSBAND MICAH -

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