OCRegister.com:
Jim and Alexis Bellino, last season's newest cast members of "The Real Housewives of Orange County," recently defaulted on a $4.6 million loan for their stately home on Circle Drive in Newport Beach.
According to documents obtained exclusively by The Orange County Register, the Bellinos failed to pay $83,856.92 since April 26 on their home loan, and faced the threat of foreclosure and having their home sold at public auction to the highest bidder.
However, the auction (or trustee sale), scheduled for Wednesday, Aug. 25, never happened. The Bellinos modified the loan on their Newport Coast home, and never had to move out.
"Chase Bank has been great to work with on my modification," Jim Bellino said in an interview Friday. "The trustee sale has been canceled, and the modification has been agreed upon."
Since the housing market bubble burst, several "Real Housewives" have faced serious real estate conundrums. Original "housewife" Jeana Keough defaulted on her loan, faced foreclosure and got a loan modification, much like the Bellinos. Tamra Barney short sold her home for less than the Barneys purchased it.
I knew they were broke. All these psuedo-rich people on these housewives shows!
ReplyDeletePeople run into financial problems particularly during the last few years. It is obnoxious for Tamara to gloat when she heard that they were having trouble. Here she faced similar issues if not worse last year. I don't understand that woman.
ReplyDeleteThis week, watching Alexis argue with the "designer" of her "couture" line was excrutiating. Here the poor woman begged Alexis not to destroy her creation. Alexis did not care, did not listen, she just took a scissors to the creation and snipped off the beading and chiffon sleeves. Whether she liked it or not does not matter, what matters is the woman created a piece of art and Alexis thought nothing of destroying it. It left me with a sick feeling, I was appalled.
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