Joe And Teresa Giudice Contest Foreclosure Proceedings On Mansion But Are Denied!

joe and teresa deal with indictment

Teresa Giudice and Joe Giudice have been battling foreclosure on their “re-done” Montville mansion for years. Their recent last-ditch effort to halt the foreclosure process has been denied! 

During their bankruptcy proceedings (which led to their federal indictment and imprisonment) Teresa and Joe were allowed to retain possession of the home because they owed more than it was worth. Unfortunately with all their other financial issues the couple couldn’t make the mortgage payments of $10,679 per month and as of December 2014, lapsed into foreclosure. Again. 

With their house in foreclosure, Teresa and Joe have been trying to sell at $2.99 million with no takers. Apparently no one wants to live in the fraudulently gilded remains of failed delusions of grandeur. Last week the indebted Real Housewives Of New Jersey couple attempted to contest the bank’s foreclosure proceedings, but had their request denied. 

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Lawyers for the Giudice’s mortgage holder, Community Bank of Bergen County, filed a request seeking a final judgement to determine if they can begin the process for a “sheriff’s sale” of the property. Last week the judge approved the bank’s request to proceed. 

Judge Stephan C. Hansbury obviously recognizes what everyone – EXCEPT the Giudices – does: there is no possible way the couple can afford the mansion

Reacting to Teresa and Joe’s attempt to block the foreclosure the Judge dismissed their defense as having “no basis in fact or law” and alleged it was a stall tactic “meant only to delay the proceedings.” Basically, once again, Teresa and Joe were trying to manipulate the courts! 

The couple has very narrowly avoided foreclosure before – there was even an auction scheduled for their property. On the day of the auction was canceled. Joe and Teresa were shown on an episode of Real Housewives Of New Jersey sitting, like ducks, amid their pseudo-splendor. 

Joe currently resides in the home with his four daughters. A prospective sheriff’s sale will be months away reports North Jersey.com. Teresa will be released from prison, presumably to that address, to begin filming Real Housewives Of New Jersey. 

The Giudices could manage to hang onto their house if they bring their balance current before the final judgement is entered. 

This August Teresa and Joe’s Jersey Shore house was foreclosed on and sold back to the bank for a paltry $100. Additionally a former rental property they own, which I believe once housed Joe’s pizza parlor, is also in foreclosure per court records. Joe and Teresa are currently trying to sell that property for $179,900. 

Their recent foreclosure issues is serving some much-deserved irony for Teresa and Joe who both received prison sentences for, among other things, mortgage fraud in an attempt to own properties they couldn’t afford. This seems to be the last hurrah in their attempts to manipulate their finances. Let’s hope those Bravo checks go far… 

TELL US – WILL TERESA AND JOE MANAGE TO SAVE THEIR HOUSE YET AGAIN?

[Photo Credit: Bravo]

 

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