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Real Housewife of New Jersey Foreclosure Woes

The so-called “stars” are suffering again with foreclosure.

Foreclosure on the Jersey Shore

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Giudice Foreclosure – Axsmith Law Blog

Joe and Teresa Giudice are having their Montville Township mansion, as featured in the “Real Housewives of New Jersey,” foreclosed on.  No denying money problems now.

The couple had filed for bankruptcy in October 2009, revealing $13.4 million in debts. The bankruptcy trustee representing their creditors alleged the couple hid assets and income in their filing, and in 2011 Joe Giudice pleaded the Fifth Amendment against self-incrimination when questioned about the matter. 

Mansions Sold at Foreclosure Auctions

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And sometimes when the bank seizes a so called “mansion” they can’t sell it for the millions it once commanded.  For instance, Arden Park was just bought for $65,000, which is actually lower than the $69,000 asking price.  The house is 5,000 square feet, but in terrible shape.  Still, you can just see the possibilities.

Maybe we can get us a castle at twenty-five grand in Michigan.

Another example is a mansion on the market for $3.5 million, and it will take $12 million to rebuild.  It was owned by Andy Widerhorn, who later went to prison for filing a false tax return and bribery.

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And the designer of Mick Jagger’s jewelry, with Barbra Streisand, Lenny Kravitz and Sharon Stone as collectors of his work, has also gone broke.

Barry’s white colonial farm house, a stone’s throw from the exclusive Millbrook Golf & Tennis Club, was home to the couple after he sold his five-story Lexington Avenue townhouse — dubbed Crocodile Hall — in 2006 for $23 million.

Public records show a dizzying array of mortgages, creditors and tax liens that seem to back up the designer’s claims in court that he’s broke.

So it happens to the best of us.  If you are in a temporary bind, phone Axsmith Law LLC for help with foreclosure mediation, foreclosure lawsuits, and debt defense.  (202) 285-5415.

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