The Real Housewives of New York’s Barbara Kavovit has been prominently featured in her Housewife Friend role this season. She has been invited on all the cast trips, including the recent crazy vacation to Miami. Barbara’s Hamptons home even played a prominent role during earlier episodes when she hosted a drama filled clambake. The drama, however, wasn’t really clam-baked by Barbara herself.
The other ladies were stirring the clam pot. Barbara was mostly along for the ride. Sure, her support of Luann de Lesseps and her hesitancy to invite Dorinda Medley to the event fueled the tasty clam drama, but Barbara mostly stood back and watched while the real drama experts flung rotten shellfish at each other. Of course, like many other Housewives, some of Barbara’s most interesting drama takes place off camera. Which is the case with some unfortunate recent legal proceedings regarding her gorgeous Hamptons home.
Barbara’s Wainscott, New York house is currently facing foreclosure, according to a Page Six article. She is reportedly in settlement talks with Deutsche Bank over the 2.4 million dollars owed on the home. Which is enough money to buy 10 homes in other less tony, non-Hamptons communities!
According to court documents obtained by Page Six, Barbara was first sued by the bank last year. The bank accused her of not paying her mortgage. Barbara took out the $2.4 million dollar loan in 2006 with her father, Joseph Kavovit, who passed away in 2013. The bank claims that Barbara became responsible for the loan after Mr. Kavovit’s death.
Barbara missed a house payment on April 1, 2015, the same year she filed for bankruptcy, and she still owes a whopping $2,482,167.44 according to the bank. Which seems like a huge amount to owe on a 13-year-old loan. Did Barbara refinance or take out home equity loans on the house?
RELATED: Dorinda Medley Won’t Beg Luann de Lesseps For Her Friendship; Says Barbara Kavovit Is “Irrelevant”
Newbie Barbara joins other New York Housewives with real estate drama, most notoriously Luann who was sued by her children last year when she tried to sell her Hamptons home in a questionable real estate transaction. Sonja Morgan has also had real estate issues. She is now renting her crumbling, money pit townhouse to help shore up her finances. Which allows her to live in a nice apartment that will not collapse into the basement if she drops an empty wine bottle on the floor.
Deutsche Bank initially wanted to put Barbara’s home in foreclosure, but they are now suing her for the full amount owed, plus interest. The bank is also asking a judge to let them sell the home at a public auction. Legal consequences for Barbara in that scenario are unclear.
RELATED: Tinsley Mortimer Wonders Why Barbara Kavovit Has No Loyalty To Dorinda Medley After Their Long History
Would Barbara still be responsible for the balance owed if the home sold for less than her current mortgage balance? Maybe real estate investor Bethenny Frankel would be willing to step up with a bid if the home actually does go to auction. Or Ramona Singer could put in a low-ball revenge bid, as she has been unable to hide her utter disdain for Barbara this season.
Barbara’s old bankruptcy case was also reopened recently. And she has filed papers, asking the judge to throw out the case based on her claim that the bank should have gone after her father’s estate, as the deed for the home was transferred to him in 2010.
In a statement to Page Six, Barbara explains, “Part of being an entrepreneur means that business and life can sometimes take unexpected turns. In 2015, I filed for personal bankruptcy protection which has been discharged, and am currently in settlement discussions with Deutsche Bank, with every expectation this will be concluded soon.”
Let’s hope for Barbara’s sake, that is indeed the case.
RELATED: Tinsley Mortimer Says Barbara Kavovit Is Doing Luann de Lesseps’ “Dirty Work” & Dorinda Medley Should Be Upset About Clambake
In the meantime, the home is reportedly available for rent on Zillow for an astounding $58,333 a month. Which, probably isn’t so astronomical an amount in the Hamptons. Ah, to be a Housewife!
TELL US–WHY DO YOU THINK SO MANY OF THE HOUSEWIVES RUN INTO FINANCIAL TROUBLES? DO YOU THINK THAT BARBARA WILL BE INVITED BACK FOR A SECOND SEASON?
[Photo Credit: Bravo]