Last week, reports surfaced that Joe & Teresa Giudice’s New Jersey “mansion” was going into foreclosure, and this week things are looking even worse for the convicted felons of Real Housewives of New Jersey. According to Vicky Hyman at NJ.com, “The canal-front beach house on the Jersey Shore owned by Teresa and Joe Giudice will be auctioned May 19 by the Ocean County Sheriff’s office.” Officials say, “Bidding for the five-bedroom, two-bath home will start at $100 and increase in increments of $1,000.” That’s a just a bit lower than the $347,000 the Giudices paid for the Manahawkin home in 2005.
NJ.com also reports that Teresa and Joe currently have not one, not two, but THREE mortgages out on their Jersey Shore home. “They tried to sell it last year for $315,000, just before their fraud sentencing,” the website said. That didn’t pan out, apparently. “The foreclosure proceeding was initiated by America’s Servicing Company, which holds the first mortgage on the home,” they add.
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So where will Teresa, who is currently serving a 15-month prison sentence in Connecticut for bankruptcy & financial fraud charges, come home to after she does her time? With their Montville McMansion up for sale (at $2.99 million), but going into foreclosure last week, and their shore home being auctioned off for a song, one can only assume the Giudice’s future is more uncertain than ever.
TELL US: DO YOU THINK TERESA WILL FINALLY BE FORCED TO DOWNSIZE? WHAT PRICE SHOULD THE GIUDICE’S BEACH HOUSE GO FOR?
Photo Credit: Ivan Nikolov/WENN.com