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.
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