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No Eviction For The Giudices, Court Rules They Will Keep Their NJ Mansion

Giudice

While Joe and Teresa Giudice are awaiting their federal trial where they could face up to 50 years in prison, the Real Housewives of New Jersey stars got good news this week and that is that a bankruptcy court ruled they won’t have to sell their home to pay back their millions of dollars in debt. According to court documents obtained by RadarOnline, the trustee of Teresa and Joe’s ongoing bankruptcy case filed a motion to “abandon” their mansion in Towaco, New Jersey, because it is of “inconsequential value” to their estate.

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Abandonment is usually an option when the sale of a property would be too difficult, or would not bring in enough money to settle the outstanding debts. The Giudice home is reportedly worth $500,000, and they still owe $1.65 million on the mortgage to the Community Bank of Bergen. Under abandonment, the bank may decide to proceed with foreclosure. The Giudice’s home has faced foreclosure several times in the past, but they have come through all of those situations on top.

The court’s proposal for abandonment was certified as having no objections on January 13th, according to documents obtained by Radar, so the Giudice family will not have to sell their home.

Photo Credit: Getty Images/Bravo

AllThingsRH

AllThingsRH

My name is Nicki. I am 32 years-old and married to my best friend. I was previously in business for over 12 years, but I’ve always had a great passion for web and graphic design. Another one of my passions, of course, is to escape into the world of TV, which is where this journey began. My goal in starting AllThingsRH.com was to give fans, like myself, a place to catch up on all the latest news and gossip about The Real Housewives. I wanted to create a place where viewers could interact with each other, share their opinions, and get straight-forward and unbiased information about what’s going on. I am proud of the diversity this site has to offer.

  • DebBrenn

    If that mausoleum is “inconsequential” what assets do they have that are worthwhile to pay back all the people they’ve duped? Her implants?

    • Colleen

      Good one DebBrenn 🙂