EXCLUSIVE: Teresa & Joe Giudice Cut Asking Price of House Due To Danger of Foreclosure

Posted on Jan 8 2015 - 2:03pm by Editor

Teresa Giudice

Former “Real Housewives of New Jersey” star, Teresa Giudice, has reduced the asking price of her Towaco, NJ mansion by $500,000, AGAIN!

The new listing price of the gaudy dwelling is now $2.99 million. While the price reduction may seem reasonable, or even a bargain for the 4-acre property, the residence was recently appraised for around $1.8 million… a far cry from the new asking price.

READ: Desperate Housewife: Teresa Giudice Reduces Price of Her New Jersey Mansion By $500,000

Teresa and Joe Giudice put their Towaco, New Jersey million dollar mansion on the market in September, and since have reduced the price three times, most recently in November, where they slashed their expectations by $500k.

The numerous and probably desperate  price reductions may stem from a place of financial panic. A source tells All About the Tea exclusively, that the convict couple are allegedly delinquent on their $17,000 a month mortgage by several months.  After Teresa and Joe were convicted, most of their revenue streams dried up. That fact coupled with their bankruptcy discharge denial, are both circumstances driving the Giudices to scramble to unload ALL of their properties and find affordable living accommodations before the bank seizes their NJ mansion.

READ: Convicted Felon, Teresa Giudice Bankruptcy Finalized: Creditors Owed $13.4 Million

 

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The felon reality duo’s beach house is also up for sale, with an asking price of $315,000. The beach house is located on the Jersey shore (Manahawkin, New Jersey) and is described as a the perfect weekend getaway! The contemporary 4 bedroom 2 bath Ranch was completely renovated with light bright and airy tones, vaulted ceilings, fans & recessed lighting. Brand new kitchen w/ custom cabinets, stainless appliances, ceramic tile flooring. The outdoor living space is relaxed and comfortable w/ Double Sliders to stamped concrete patio, 50 feet of waterfront w/ vinyl bulkhead. Plenty of storage inside and out.

Teresa Giudice house

This move has been a long time coming, and probably won’t be the last price drop as they desperately try and outrun the bank. Could there really be a family out there with the same taste as the gaudy Guidices?

 

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Writing Staff at All About The Tea