"Real Housewives of New Jersey" stars Joe and Teresa Giudice are not faring well in the housing market, with another property failing to drum up any buyers.
According to an article by Vicki Hyman on NJ.com, the modest Lincoln Park home owned by the stars was sold back to its lender for the minimum $100 at a foreclosure auction.
From the article:
Just before their sentencing in October 2014, the Giudices tried to sell the Lincoln Park home, described as “charming” and “not in a flood zone,” for $179,900, but apparently found no takers, and their lenders initiated foreclosure proceedings. The Giudices owed $225,742 on the home, although a representative for the lenders set the “upset price” — the minimum amount they’d be willing to accept — at $123,000. No one bid, and the lenders took back the home for $100.
This is the second home the Giudice family struggled to sell.
The New Jersey waterfront home of the stars also went with absolutely no bids despite an opening bid of only $100. The two owed $348,000 on the home to HSBC Bank.
In October 2014, it was announced the couple was sentenced to federal prison for a bankruptcy and mortgage fraud scheme.
Joe Giudice only recently arrived at Fort Dix Federal Correctional Institution in New Jersey to begin his 41-month sentence for bankruptcy fraud.
He faces deportation upon release.
