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April 21, 2015

Joe and Teresa Giudice's beach home set for May foreclosure auction

Bidding on the Manahawkin property will start at $100

The Real Housewives of New Jersey’s most notorious couple, Joe and Teresa Giudice, are losing their Jersey shore summer home to foreclosure.

The Manahawkin, Ocean County, house on Sylvia Lane is set be auctioned off by the Ocean County Sheriff's Office at 2 p.m. on May 19, NJ.com reports.

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(Goggle Maps.)

The bidding will start at $100, increasing in increments of $1,000, a huge cut for the notorious celebrity couple who were sentenced to federal fraud and conspiracy changes, for which Teresa is currently serving a 15-month prison sentence.

According to NJ.com, Joe and Teresa purchased the 1,350-square-foot home in 2005 for $347,000 and renovated it twice.

According to their bankruptcy filing and reported on by NJ.com, the couple took out three mortgages on the Sylvia Lane house. America's Servicing Company holds the first mortgage and initiated the foreclosure proceeding.

For more details on the foreclosure auction, see the Ocean County foreclosure website. 

Read more at NJ.com.

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