Giudice Beach Home On Auction Block: Teresa And Joe’s Vacation Pad In Foreclosure Sale

If you’re in the market for a new home and want to own a piece of a Real Housewives of New Jersey star’s lifestyle for, perhaps, pennies on the dollar, here’s a newsflash: The Giudice beach home is up for bids. According to a New York Daily News report, Joe and Teresa Giudice’s Jersey Shore home is in foreclosure. Teresa and Joe’s vacation property is on the auction circuit, and get this: bids start at only $100. Imagine that?

Records show that there are as many as three mortgages on the canal-front home located in Manahawkin. The Giudices tried to sell the property on Sylvia Lane last year before their formal jail sentencing, but there were no takers. Originally, they paid a reported $347,000 for the beach home but discounted it by $32,000 last year, to no avail.

Teresa and Joe Giudice’s beachfront home boasts 1,350-square-feet of living area with five bedrooms. The couple renovated the home before and after Hurricane Sandy struck the Mid-Atlantic states. When no purchase agreements were signed on the home, one of the note-holders filed foreclosure proceedings. The beach villa has been featured in several RHONJ episodes over the years.

On Thursday, the Inquisitr reported on a possible divorce with the reality TV couple. Reportedly, sources say a former inmate claims Teresa has been meeting with several lawyers, one of whom was an attorney specializing in marital splits. Unconfirmed rumors suggest Joe, contrary to his claims, has not been visiting his wife during her prison sentence. Some on social media claim that because the Giudice beach home is being auctioned off, it signals an end to their marriage. However, at this time, the Inquisitr cannot form a connection.

Prior to the beach home going into foreclosure, the Giudice’s main home in Montville Township suffered a similar fate, according to NJ.com.

“Community Bank of Bergen County filed a notice of foreclosure in Morris County Superior Court Wednesday on their Indian Lane property, according to court papers obtained by NJ Advance Media. The couple had returned to the mansion to the market this week with a $2.99 million listing price.”

The 10,000-sqaure-foot mansion has five bedrooms, five baths, a spiral staircase, an open floor plan, custom closets, sprawling kitchen, marble floors, and a five-car garage. Originally listed at $4 million, the home’s price dropped by 25 percent. While there was interest, there were “no offers,” according to listing broker Frank Cooney of Stonybrook Realty.

The Giudice’s woes began in the wake of a bankruptcy filing in 2009. Then, the trustee learned the couple were hiding assets and had not declared them in official court documents. This was the impetus for fraud charges that eventually led to sentences for Teresa (15 months) and Joe (41 months).

The Giudice beach home is scheduled for auction at the Ocean County Sheriff’s Office on May 19. Bids on the “as-is” home continue at $1,000 increments.

[Photo by Steve Mack/Getty Images]