Teresa Giudice has listed a third house for sale, one that not many people knew that she owned. According to Variety, The Real Housewives Of New Jersey star purchased a home back in 2005 that she never actually lived in. The three-bedroom, one-bathroom house in Lincoln Park, New Jersey, was listed for sale for $179,900.
It is unknown why Teresa initially bought the home, but according to the report, she “took out several mortgages and loans against the property.” It’s unknown if Teresa ever rented out the home or made a profit from someone who paid her rent, but it sounds like the house was just a way for Teresa to get extra money by way of equity. The home clearly turned out to be a money pit for the reality star.
“A little research turned up evidence the Giudices first attempted to unload the property in September 2013 when it popped up for sale with at $199,000. The price plummeted to $150,000 before it was taken off the market in mid-May 2014 and than briefly put up for rent at $1,650 per month.”
Teresa Giudice and her husband Joe are due in court on Oct. 2 to find what their punishment for committing fraud will be. Both Teresa and Joe could be going to jail, but they don’t know how the judge is going to rule in the case. Basically, the couple knows that they are going to be living a very different life after their hearing and money is going to be tight for sure, so selling their properties and down-sizing is the best thing that they can do at this time.
According to NJ.com, Teresa and Joe listed their Montvale mansion for $3.99 million earlier this month. The stunning home features high ceilings, chandeliers, granite and marble, gorgeous woodwork, and so much more. The home was renovated by the couple to make it their own, and the details are pretty amazing. Sadly, Teresa and Joe won’t be living the rest of their lives in the home that they made for themselves. That’s because they committed bank, mortgage, and tax fraud in order to get themselves there.
Teresa Giudice’s life is going to change come next Thursday. According to The Inquisitr, the reality star may even be forced to divorce her husband pending the results of the hearing. Many believe that Joe is going to be sentenced to jail for a few years and that Teresa may not have any other option financially. If it doesn’t happen, it’s going to be very tricky for Teresa to get on with her life after all of these legal woes.
[Photo courtesy of Tommy Garcia/Bravo & Rand Realty]