Homeless Housewife: The Next Steps in Bank Foreclosure Action For Teresa & Joe Giudice [Legal Blog]

Posted on Apr 20 2015 - 9:50am by Stacy Slotnick, Esq.

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There’s no place like home, according to 1939’s cinematic marvel, “The Wizard of Oz.” But Joe and Teresa Giudice are going to need more than ruby red slippers to find their way home now that the bank has filed a mortgage foreclosure lawsuit (Read bankruptcy complaint below). The bank that holds the mortgage for the Giudices’ Montville Township, New Jersey manse started foreclosure proceedings against Joe and Teresa on April 3, 2015. Can Teresa click her Jimmy Choo heels three times in an effort to keep her property?

Foreclosure is a devastating and dreaded legal process in which the bank takes possession of a mortgaged home as a result of the mortgagor’s failure to keep up mortgage payments. A mortgage foreclosure action may result in a Final Judgment and Writ of Execution ordering the sheriff to sell realty to raise the amount due on the debt.

As we travel along the yellow brick road, beware of flying monkeys, a brainless scarecrow, and the Who, What, When, Where, Why, and How of foreclosure law.

WHO: In New Jersey, the bank must file a foreclosure case with the court. The Complaint In Mortgage Foreclosure filed by the Community Bank of Bergen County, New Jersey (“Plaintiff”) contains all the information about the Giudices’ (“Defendants”) mortgage – the amount owed, names of borrowers, address of the property, and requested relief from the Court. 

On September 12, 2008, Defendants were indebted to Plaintiff in the sum of $1,720,000.00, payable in monthly installments of $10,679.38, at an initial interest rate of 7.25% starting on November 1, 2008, according to the Complaint. Under the Second Count, Plaintiff declares it is “entitled to possession of the premises.”

WHAT: A foreclosure is a court-ordered sale of property to satisfy a mortgage debt, and an individual who has not paid his/her mortgage is considered to be in default and the lender can begin foreclosure proceedings. In New Jersey, a Notice of Intention to Foreclose must be sent at least 30 days before the lender can file a complaint. This Foreclosure Complaint filed in Superior Court of New Jersey, Chancery Division asks the Court to allow the mortgagee (the bank) to recover the property.  A Foreclosure Complaint must be served on any party who has a legal interest in the property, which may include a spouse, tenant, or other party who may hold a lien against the property.

Under paragraph 5 of the Complaint, the bank indicates “should any default be made in the payment of any monthly installment on account of the principal and interest….the entire principal sum remaining unpaid….shall at the option of the oblige….become due and payable immediately.” On December 1, 2014 an installment of principal and interest, insurance and taxes became due and payable on Plaintiff’s First Mortgage and it was not paid, according to the Complaint.

WHEN: It usually takes 250 days or more to execute an uncontested foreclosure, which is where no Answer to the Foreclosure Complaint is filed, allowing the Plaintiff to proceed with a Request to Enter Default against the homeowner and other Defendants.  If the Giudices do not file a written answer, they are admitting the claims of the Complaint. Once a default is declared, the lender must wait another 45 days – time when Defendants can cure the default – before a Final Judgment is issued and a Writ of Execution is delivered and sent to the local sheriff’s office to start the foreclosure sale process. In total, it can take a year for an uncontested foreclosure to be final, from the date of the Notice of Intention to Foreclose through the time the sheriff takes possession of the property.

Defendants have 35 days in which to file a Contesting Answer to the Complaint otherwise default will be entered. A Contesting Answer is one that expressly challenges the Plaintiff’s right to foreclosure on the property. If Defendants file an Answer and contest the Complaint (argue that the bank is in the wrong and therefore not legally entitled to foreclose on their property) they’ll have an opportunity to explain their side of the story and present evidence in support.

Next, the bank will have a chance to defend its position. If the Giudices challenge the action, seek delays and adjournments of hearings, or there is a backlog in foreclosures – New Jersey has one of the longest wait times for foreclosures as a result of the real estate market tanking – it could take 1,000 days or nearly 3 years to resolve this action.

The Giudices will be able to live in their house until the foreclosure process is final and the property has been sold. Banks aren’t ecstatic about foreclosing on homes because each bad loan costs them upwards of $40,000 and sometimes that lets borrowers apply pressure on their lenders into considering reducing the mortgage principal and/or mortgage obligations.

WHERE: Once Final Judgment is entered and the Plaintiff delivers a Writ of Execution to the sheriff of the county, the sheriff is required to schedule (and conduct) a sale of the property.  The defaulting borrower and every party who has appeared in the action must be given at least 10 days notice before the foreclosure sale can take place. The sheriff posts a notice of sale at the property and in the sheriff’s office. The notice is also published in two newspapers. Once a sale is conducted, the homeowner loses ownership of the property.  Borrowers in New Jersey have “redemption rights,” which means a foreclosed homeowner can reclaim his/her property during the 10 days following the sale by paying the full amount of the unpaid loan plus costs. 

WHY: When you snooze on making mortgage payments, you can lose your home. The bank likely will not act until you have missed at least three payments. In this case, on December 1, 2014 (date of default) an installment of principal and interest, insurance and taxes became due and payable on Plaintiff’s First Mortgage and it has not been paid, according to paragraph 18 of the Complaint. “Plaintiff has elected that the whole of the unpaid principal and interest shall now be due,” indicated the bank.

Until the entry of Final Judgment, the Giudices could attempt to “cure” their default by catching up on missed payments and late fees. Paying off the loan, refinancing, or participating in a loan modification plan can help prevent the sale of one’s home. Bankruptcy stops a foreclosure too but it does not automatically eliminate mortgages and other liens on the property without payment. This is inconsequential because the Giudices voluntarily withdrew their Bankruptcy Petition and admitted to hiding assets from bankruptcy creditors and submitting phony loan applications to get some $5 million in mortgages and construction loans. 

The Giudices’ foreclosure defense lawyer (if they have one) will try to slow down the foreclosure process by establishing that the lender engaged in a “rubber stamping” of documents and/or there was substandard record-keeping performed by lenders.

HOW: If a sheriff’s auction sale produces more money than is needed to satisfy the foreclosure judgment, the sheriff will deliver the extra money to the Superior Court Clerk. These moneys stand in the place of the land itself for the purpose of distribution among lien holders with an interest in the property. Plaintiff can also obtain a deficiency judgment against the Giudices, which can be applied if the property is sold at public sale for less than the balance owed, and the Giudices are responsible for that difference. 

The Giudices always had the power to avoid foreclosure on their stone and stucco cottage situated on approximately 3.5 acres, but they have to learn it for themselves. Will this legal drama evolve from a gloomy black and white film to brilliant Technicolor? Grab your gavel, join the conversation, and let us know what you think about the bank foreclosing on Joe and Teresa’s marble palace.

 

READ: Teresa Giudice Foreclosure Complaint By Community Bank

 

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About the Author

Stacy Slotnick, a.k.a. The Foxy Jurist, holds a J.D., cum laude, from Touro Law Center and a B.A., summa cum laude, from the University of Massachusetts Amherst Commonwealth Honors College. Stacy is the recipient of the Honors Deans Award; Simon and Satenig Ermonian Memorial Scholarship; College of Social and Behavioral Sciences Opportunity Scholarship; and College of Humanities and Fine Arts Scholarship. She is also a William F. Field Alumni Scholar, an honor bestowed upon the most academically distinguished students. In law school, Stacy won two CALI Excellence For The Future Awards® and received an Achievement Scholarship. She is a member of the New York Bar. As an entertainment lawyer, Stacy counsels clients on contracts, branding, and public relations strategy. She negotiates with agents, producers, production companies, and lawyers to secure rights to projects on behalf of high-profile clients. Her clever, spirited, no holds barred legal analysis can be found in articles for The Huffington Post. * Facebook
 
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  • Bad Barbie

    Baffles me how these fools got themselves into such a “lifestyle” without really having that type of bank roll. I’ve also seen millions of people in America do the same. I personally know people who have been in the foreclosure drama for years now and still flossing like nothing. They do it to wipe out all debts. Thing is…this is not 2008 anymore, when legit people were losing their homes due to loss of employment and the market collapsing.

    I am surprised that Gorga is still out here flossing too. Those 2 have the same type of “lifestyle” they just haven’t been caught. I mean, let’s be honest. Tre and her brother come from the same household. I want to say they were raised to fake it till they made it. How is it that the parents have all this money too? They don’t even speak English… All these “contractors” have no proper education either. They are not even real “builders”. They hire a bunch of illegal immigrants to do construction for $50 a day. How can Juicy or Poison really do measuring, read blue prints, etc???? #suspect

  • twifan2

    Dang! Just dang! :/
    There is/was no way they could keep up their ‘lifestyle’ in an honest manner.

    Stacy, is there some legal way the Giudices can try to hold on to their home? They can’t file bankruptcy, so what-besides paying the debt off-can they do?

    • Jennymckitty

      Why can’t they file bankruptcy now? I understand why they had to withdraw their initial filing but their financial situation has dramatically changed now.

      • twifan2

        But they couldn’t withdraw their bankruptcy back then. It was denied & then all the red flags popped up on them.

      • HalleG

        It was withdrawn because they were being shady. Now they have a statue of limitation put on them saying they can’t file for another 7yrs.

    • Stacy Slotnick

      If the Giudices do not want to lose their home, they can start by figuring out what they can afford to pay towards their mortgage. Once you know what you can afford to pay, you can try to negotiate an affordable payment plan with your lender. Until the sheriff’s sale, you may “redeem” your property by paying off the loan, refinancing, or participating in a loan modification plan.

      • twifan2

        With the same loan they took out? Or would the bank re-o their loan?

  • MidwestMiddie

    Are the Giudices paying their electric, gas and water bills? In New Jersey how long can
    one go without paying utility bills before all utilities are shut down?

    • Just a jersey girl

      I think that bill was from the apartments where the pizzeria was, PSEG goes after everyone. I thought that was his father’s building.

      • MidwestMiddie

        Ah, thanks.
        Do you think Joe has been paying for the utilities on the mini-mansion?

      • WestCoastFeed

        He tried to tell the news media that he just managed the property. But the reporter tracked down the LLC listed as property owner and discovered that Joe was the owner of the LLC.

  • Fritz the. At

    Stacy, thank you. We had a bit of confusion as to Teresa and Joe withdrawing their bankruptcy petition. Can you clear this up for us? Thank you.

  • twifan2

    Why are the Mastropoles, Gas, Electric companies, USA & some others listed as Defendants along with the Giudices?

    • MidwestMiddie

      Good question ………
      I don’t understand why they can live in this house for such a long time when
      they aren’t paying the mortgage, utilities, taxes, etc..

      Any bets that Joe skips on yard work this year? Soon there will be
      10 foot high weeds growing around Tre’s Gaudy Princess Mini-Mansion.

      • Stacy Slotnick

        The law is extremely favorable to the mortgagor. This is why banks should only be lending money to people who can afford mortgages because if the mortgagor isn’t in the right financial position, it is the bank who has to jump through hoops to foreclose on the property.

    • cheryl

      because they have liens against the property along with many other including the stae of new jersey and federal government.

      • twifan2

        Then is the bank going after them too, since they’re named?

  • Shelly Jones

    I’m starting a GoFundMe page…who’s with me? We must give our hard earned money to help the felonious couple keep up their lifestyle.

    • twifan2

      As a recipient too? 🙂

      • Shelly Jones

        Hey Twi fan..You know I like to talk trash on TG posts.

        • twifan2

          Me too, Shelly! 🙂
          I wonder what she’s thinking these days? :/

          • Shelly Jones

            Awww…you think she’s thinking…Are you going soft on me!!!????

          • twifan2

            Sorry-brain fart there. 😉

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Ack! Can’t post gifs. LOL!

          • twifan2

            😀
            Raising your blood pressure huh? 😉

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Yes. & so is Tre, Juicy & Mama Joyce. LOL! It’s not easy to keep the sass & snark contained.
            Great blog though. Loving all the info regarding the mortgage 7 the foreclosure.

  • All About The Tea

    Hi AATT posters,

    Out of respect for attorney, Stacy Slotnick, please refrain from posting gifs and EXTERNAL links (to other sites) on legal analysis blogs. Also, it would be hugely beneficial and productive to stay on topic. Thank you for understanding.

  • Chloe

    Thanks for this blog Stacy. My question is once all the time has expired and the house goes on the auction block, what happens if the house doesn’t sell at auction? And are the Giudices permitted to live in the house until it sells or do they have to vacate once the house hits the auction block?

    • Stacy Slotnick

      Thanks Chloe! When an auction is unsuccessful, lenders retain ownership of the property. After a failed auction, the lender lists the property for sale with a real estate agent. It doesn’t want the home; it wants its money, and the only way that’s going to happen is if someone eventually buys the house. Basically, the lender has to put more money into selling a home they have already lost tens of thousands of dollars on. It’s a bad scenario for the bank when they have to file foreclosure proceedings. Very rarely does the bank “win” in the traditional sense of the word.

      Yes, the Giudices can remain living in the home until the sheriff’s sale.

  • twifan2

    Stacy, what about the contents in the house? Furnishings-are those included?

  • Just a jersey girl

    I am laughing at the co complainant’s because they have no or little chance of getting anything iyt of this house. First the judgment for the restitution is listed twice. Judge Salas said they had to be paid separately. If this house sells for 2.5$ million, which is a big IF, a 6% commission is $150K. I will be laughing because the first in line is the Lien Holder. The second would be the balance of the restitution, taxes due, and the judgment for the cleanup. Everyone else will get .02 on the dollar.
    No money here for anyone.

  • Lucy94

    Great breakdown, as usual, Stacy! So, if it literally takes years for this to conclude (and you know it will with these people), the family can live in the house and pay no mortgage for all that time? Also, the property taxes are a whole other issue. Not all mortgages include them, but apparently Juicy’s does. Can they go unpaid for the duration, as well?

  • Great blog, Stacy! We all saw this coming but the process seamed to take forever. Are there any legal options at this point that can save their home? I know Bankruptcy is out of the question but are there any other legal maneuvering they can do to try and save casa Giudice?

    • Stacy Slotnick

      Thank you! They can catch up on missed payments and
      late fees. Paying off the loan, refinancing, or participating in a loan
      modification plan can help prevent the sale of their home. But based on the fact they haven’t paid any installment of principal and interest, insurance and taxes since December 1, 2014, none of those options seem viable.

  • DLister

    Good. They deserve it. Teresa will absolutely be forced to live in a “used house.”

    • twifan2

      Well, she is living in one right now-Danbury.

    • Stacy Slotnick

      People in glass houses shouldn’t throw stones. Good point.

      • DLister

        Thank you, Stacy!

        • Stacy Slotnick

          Anytime, DLister. Thanks for checking this blog out! People should never purchase more home than they can afford. Simple economics says spend less than you make. Period.

          • DLister

            Ya know, one would think it’s very, very basic math. What you earn a month, what you can easily afford for domicile expenses (mortgage, taxes, utilities).

            My mom is in real estate in this rather tony area of NJ I live in, and she would often be amazed at how many people, forced to sell their homes, had absolutely bare bones furniture or even none. Just to have the curb and frontage appeal, and to say they live in Colts Neck, Holmdel, Rumson. Pathetic.

          • Stacy Slotnick

            I believe it. New Jersey has one of the highest foreclosure rates in the country. Too many people bought homes they could not afford and then in 2008-2009 they lost their jobs. I wonder what your mom thinks about how a sheriff’s sale would proceed in this case. Would the property sell for less
            than the balance owed? Does the “celebrity” of the home help or hurt the sale price?

    • itsjustme

      At this point Tre and the girls will be lucky if anyone will RENT then a 2 bedroom apartment. Forget about a used house.

      • Stacy Slotnick

        $10,679.38 per month is a lot of money. Finance managers on Wall Street don’t pay that much in rent in Manhattan. Something was amiss very early on here. Did the bank rubber stamp mortgage documents and not evaluate the Giudices?

        It’s a big concept to discuss lender liability as dozens of well-received law review articles tackle the subject but suffice it to say, many suits are filed based on breach of contract (borrowers may ask for the costs associated with loans, lost profits and perhaps even losses associated with missed opportunities);
        fraud (if one party was fraudulently induced to enter into the agreement, the entire contract may be declared void); and breach of fiduciary duty (New Jersey has a special duty of care). Lenders vigorously defend claims but that doesn’t mean a judge wouldn’t scrutinize a claim brought by the Giudices against the bank.

        • WestCoastFeed

          Since this mortgage was one that was included in the original 39 count indictment, but is one that the Feds dropped when Tre and Joe entered their guilty plea, does that mean that the bank cannot claim that it was a fraudulent loan?

  • cheryl

    Read the foreclosure complaint. The list of creditors with judgments against the Guidice’s is stunning. Some of them go back 5 years. All along as creditors are filing judgments and filings liens against the home, Teresa is spending like a fool on jewelry and designer bags and shoes, furniture and drawing plans to put a swimming pool in. And the improvements on the house like a garage and building in the back and the ugly portico on the house. They have walked away from an unimaginable amount of debt, They have children? What about their future? Something is seriously wrong with them. The list of lien holders is extensive..just shocking she spent all of her Bravo and book earnings on personal gluttony and never tried to pay a dime on her debts. Joe said in an episode they needed to sell the mansion when Teresa went mansion shopping to downsize, they needed to sell to buy and pay cash for a new one? never had the potential to happen..too many liens to ever see a dime from it.

    • Stacy Slotnick

      You make excellent points. The legal mess is huge. Maybe even insurmountable. You will see a great upcoming blog about the liens and creditors shortly. How do you think this foreclosure nightmare will end?

      • Elizabeth Fisher

        Stacy, I look forward to that blog. I do remember that there was one creditor who was smart enough to have Tre’s paycheck from Bravo garnished a few years back.

        • Stacy Slotnick

          I agree! There is an important story to be told about the liens and creditors.

          • WestCoastFeed

            I hope you can tell us more about the EPA clean up on the pizzeria property. When did that occur? And does this lien indicate that Joe still owns that place?

          • twifan2

            If he still does, that could explain where some of the income is coming from to pay the basics.

          • WestCoastFeed

            He did say that he had income from his rentals.

          • Stacy Slotnick

            Did they declare said income on their tax returns?

  • AudiS4 CarFan2002

    Is it me or is there a MAJOR MISTAKE in the court filing, the sum owed it 1,7xx,xx.00 Not 1.7xx,xxx,xx, looks to be off by 1.6 Million or so.

    • Stacy Slotnick

      Check out page 1, paragraph 1 of the Complaint In Mortgage Foreclosure filed by Community Bank of Bergen County, New Jersey, which states, “…in the sum of $1,720,00.00.”

      • AudiS4 CarFan2002

        It is missing a 0… look closely at the #…PS I love your articles

        • Stacy Slotnick

          $1,720,000.00 is how it should be written. Maybe Community Bank of Bergen County, New Jersey could use your proofreading skills.

          • AudiS4 CarFan2002

            Yes you are right will that effect the filing?

          • Stacy Slotnick

            That’s an excellent question. Here is what the Giudices’ lawyer will argue: The lender engaged in shoddy paperwork because they couldn’t even get the figure of the mortgage right in the Complaint, and It’s a decent argument. A flawed Foreclosure Complaint could stall foreclosure of the home.

          • AudiS4 CarFan2002

            So Sad, but she has so many other problems, still waiting for the insurance fraud case to appear. Again great writing…

          • Shy-ra

            Me too, anxiously awaiting the insurance fraud case. Firmly believe it’s happening

          • honeybunny

            the paperwork is shoddy because the bank that gave them the money was probably shoddy….they had a clear look into their credit history before approving that loan for them….yet they let them walk out the bank without fact checking their credit and job history…..they are just covering their arse by filing the foreclosure notice.

          • Stacy Slotnick

            You make extremely valid points that a foreclosure defense attorney should raise when representing the Giudices if they intend to challenge the action.

          • Stacy Slotnick

            Thank you and much appreciation for raising the issue, which could turn out to be a game-changer.

          • twifan2

            How could/would that effect the game, Stacy?

          • Stacy Slotnick

            As I mentioned above, it shows shoddy paperwork on the part of the lender.

          • Just a jersey girl

            Stacy great comment. This is more evidence of sloppy shoddy work from banks that echo the old subprime loan financial crisis.

          • Stacy Slotnick

            Too, instances of sloppy paperwork embolden homeowners to question whether lenders rightfully hold the notes underlying foreclosed properties. Its a slippery slope.

        • Stacy Slotnick

          Thanks so much for the compliment. I’m so glad you enjoy reading them!

  • Raine Woman

    Am I reading the complaint correctly….these morons took out a 50 YR mortgage? 50 Years?!?

    Stacy, thank you for breaking all these legalities down for us non-litigious folks!

    • twifan2

      Hi Hi Raine! 🙂

      Yes, I saw that. Their ‘final’ payment would have been due in 2058?!

      • Raine Woman

        Hi’ya Twi! Who does that? <—–Rhetorical That tells me right there how serious they were about owning their "dream home" outright. They were already living in a home constructed with stolen funds, and now they'll continue to live in their thievery mortgage-free? I didn't think it was possible to think less of them…but it is!

        🙂

        • twifan2

          Kind of boggles the mind as to how lower & lower they can become, Raine.
          But it’s only fixed for ten yrs, right? Then the rate balloons! NO WAY this was going to be ‘retirement’ home either.

          • Raine Woman

            That is some seriously shady house buying!

          • twifan2

            The other thing(one of MANY) that galls me is that they have no qualms about it!
            It’s like ‘so what! We’ll get another house.’
            >(

          • Raine Woman

            And pay cash for it from the sale of the marble mausoleum! LMAO

          • twifan2

            & still have change for a Kid’s meal to-go. :/
            They are just unbelievable!

    • Stacy Slotnick

      I know! Shocking. There was much material to include in a blog evaluating the Complaint In Mortgage Foreclosure but let’s discuss this 50-year mortgage. Absurd. This is rarer than rare. I might add that it is highly unusual to have a 50-year
      mortgage on a home.

      The Giudices executed a Note on September 12, 2008 and the final payment of the principal and interest, if not paid sooner, is due and payable on October 1, 2058, according to paragraph 1 of the Complaint. Most experts instruct borrowers to steer clear of 50-year mortgages because the loan term is so long, the borrower pays more in interest and building equity takes significant time. If you are considering a 50-year mortgage, which will not be suitable for most buyers, you might be buying more home than you can afford.

      You are more than welcome, Raine Woman. Thank you for the great comments.

      • twifan2

        IF they did happen to get an ‘interested’ buyer, how would that buyer be able to arrange for his own bank to get him/her a ‘decent’ 15-30 yr fixed rate mortgage?
        The way the Giudices’ mortgage stands now, no buyer would want to take that on.

      • Raine Woman

        Thanks for the reply, Stacy. I will just never be able to understand that kind of financial mentality, which is probably a good thing since I’m way too cute for prison. 😉

        I have an odd question for you, hope you don’t mind. As an accomplished lawyer, what advice (aside from the obvious) would you give to Teresa and Joe about the legal cluster____ they’ve gotten themselves into?

        • Stacy Slotnick

          You are very kind and it brings me significant joy to relay as much information as I can about the legal suits impacting reality TV celebrities.

          They do have a couple of options: The Giudices could try and work out a repayment plan that is affordable to them with the lender. They could perhaps change the terms of their loan. Also, if there is sufficient equity (which there probably isn’t because of the housing crisis) the lender might increase their loan balance to include the back payments (refinancing). I likewise mention a couple of options in the blog above too. They are certainly not without recourse if they opt to avoid foreclosure or challenge the foreclosure action.

          • Raine Woman

            But, would the Lender (any lender, really) work with a couple of federally convicted felons, even to try an work something out like a refinance? Neither one have a foreseeable income stream, nor will both even be around at the same time for the next 5 years.

            Last one…promise. In the Second Count of the complaint (3rd item), it looks like the Bank is going after Damages for Mesne Profits. What is that? Please and Thank You! 🙂

          • Stacy Slotnick

            In response to your first question, it is unlikely the bank would want to work them with by choice but remember, the bank is losing money every day the Giudices pay nothing and foreclosure proceedings and sheriff’s sale cost tens of thousands more for the bank. If there is a possibility refinancing and working out a new payment plan is feasible for both, the lender might engage with the Giudices. It’s a long shot, though, I agree.

            In the Second Count of the Complaint, the lender is just reiterating that based on everything stated previously, it is entitled to possession of the premises. As such, it might be entitled to mesne profits, which are damages from one who is in wrongful possession of the property, usually measured by the fair market rental of the property during the time period of the wrongful possession. This is damage for the possession itself, not flooding or any physical damage to the property itself. The principle behind mesne profits is that a trespasser is not allowed to use another person’s land without compensating the landowner.

          • Raine Woman

            Thank you so much!

          • Stacy Slotnick

            You are very welcome.

          • Just a jersey girl

            Stacy,
            Sorry, I know you are being bombarded with questions and I love all your responses. I have one more question and this is the last wouldn’t all the judgments against the property make any type of loan modification virtually impossible?

          • Stacy Slotnick

            Feel free to ask away and I promise to get to questions as quickly as possible. “Loan modification” generally refers to a process where the original terms of your mortgage are modified by a new agreement and your interest rate is lowered, thereby lowering your monthly payment, and possibly spreading the past-due amount out over time. While I am not a banker, the reason I think a loan modification might be a Hail Mary move is because the Giudices would have to show paycheck stubs, a hardship letter, a budget and any other documents proving that they can pay regularly. Can they do that? Probably not.

    • Just a jersey girl

      I just asked the same question, sorry I didn’t see yours. I just called them dumb, but morons is a better description. It looks to me like an interest only loan.

      • Raine Woman

        Jersey Girl, they are they’re own special brand of stupid. Webster should create a new word for just how stupid they are. 🙂

        • Just a jersey girl

          I am trying to coin a phrase for Giudice stupid. Giupid?? aka greedy and stupid.
          I still think the McMonster is ugly as sin and nobody wants to live in a place filled with onyx, granite and marble. The home always appeared very cold to me.

          • Stacy Slotnick

            The potential sheriff’s sale could be interesting: Either the fact that the Giudices lived there increases the value because of their notoriety or it decreases the value because of the crimes attached to the homeowners. The custom-built home may have been lavishly decorated with marble floors, custom moldings, and lots of bling — chandeliers — but is it too ostentatious for buyers of legitimate wealth and standing who can afford a million dollar home? Good question. Any realtors here?

          • side of Sour Cream

            My problem with it is and always has been that it looks like a pole barn with some dormers and gables tacked onto it. My understanding also is that most of it sits on a slab instead of a basement–that alone might stop any savvy buyer from wanting it. With no basement, (unless Joe used some very sturdy & expensive building materials) eventual structural issues are pretty much a given because of the freeze/thaw cycle in that part of the country.
            p.s. I’m not a realtor, but I play one on the internet 😉

          • Stacy Slotnick

            Plus, it is always difficult to profit from a home that is in foreclosure due to maintenance issues.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            LMBO! @ I’m not a realtor, but I play one on the internet.
            Have to agree with you Side. I think they would do much better to raze the McMansion & split the property into smaller lots.

          • Stacy Slotnick

            Interesting working theory. The materials in that house, i.e., marble, onyx, etc. could go for a lot of money.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            I agree. Strip it bare. Sell off everything you can for what you can get & split the four acres. I honestly don’t believe they will be able to sell it otherwise. Seems there wasn’t any interest in it when it was up for sale.
            Unfortunately I think somehow Tre & Juicy will finagle a way to keep it. Don’t have a clue or any idea how, but I don’t see her giving it up so easily.

          • Stacy Slotnick

            In the blog, I talk about a couple of ways the Giudices might be able to keep their home, including the fact banks aren’t ecstatic about foreclosing on homes because each bad loan costs them upwards of $40,000 and sometimes that lets borrowers apply pressure on their lenders into considering reducing the mortgage principal and/or mortgage obligations.

            Until the entry of Final Judgment, the Giudices could attempt to “cure” their default by catching up on missed payments and late fees. Paying off the loan, refinancing, or participating in a loan modification plan can help prevent the sale of one’s home. I think you are correct that they probably won’t give up without a fight. First they need to secure a good foreclosure criminal defense attorney to respond quickly to the Complaint.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Thanks Stacy. Was just catching up now with all the great questions & responses.
            It boggles my mind that they could wind up keeping that house.Then again everything Giudice boggles my mind, LOL!
            Like you said before, so much could change in 2 or 3 years that it just might be feasible. Wowser.

          • Stacy Slotnick

            Time kills all deals, but time is on the side of the borrower in foreclosure actions. There are many ways this lawsuit could make its way through the system. Do you think the Giudices will file a Contesting Answer in which they try and discredit the Plaintiff’s claims?

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Stacy after seeing all they have said & done? & considering the harm & the pain they have inflicted on their own children & families to feed their greed?
            I could not & would not put anything past these two.
            I believe Juicy & Teresa will throw everything they’ve got & sees what sticks. It seems to be their M.O.

          • Stacy Slotnick

            I think your calculations are right on the money. Besides making their own protestations against foreclosure, foreclosure cases can take awhile to become finalized, or judgments are never taken to the sheriff, with homes sitting vacant. This case may be different because you have high-profile borrowers and it would look bad if the bank didn’t aggressively pursue the action they filed but as a few posters pointed out, the Giudices have admittedly committed multiple crimes without anyone being the wiser for years. We will know in less than 35 days if the Giudices file a Contesting Answer, as they have 35 days from April 3.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Considering Teresa sincerely believes that she has an actual case against her former lawyer because she wound up in jail? Even though it was explained multiple times to her what the exact terms of her signing her plea deal meant?
            I wouldn’t put anything past these two.

          • twifan2

            Imo Stacy, I don’t see how they could afford the daily up-keep on that mausoleum. Plus try to attain the ‘luxuries’ Tre has become accustomed to-the clothes, her personal attendants, etc… AND then you have the ‘needs’, wants, of the girls.
            It’s hard to imagine how they’ll afford/maintain their former lifestyle.

          • Stacy Slotnick

            Unless they have help from friends in high places and/or monetary assistance from family, no doubt they will be unable to maintain their former lifestyle. When a property is in foreclosure, the owner has control of the property until a judge orders otherwise. Thus, the owner still has to pay their electric and water bills. As long as the the homeowner has legal ownership, the owner is responsible for water, electric, gas, etc. if the owner wants those utilities on.

          • cait

            Well, Stacy, you’re gonna have to do it “pro-bono” !

          • Stacy Slotnick

            Nice thought, cait. I love how you unilaterally have offered up my legal services to the Giudices. How kind of you. I’ll have to “thank you” for the referral by making you my paralegal on the case. Do we have a deal?

            I am a big proponent of legitimate pro bono services. I have the immense pleasure of working with amazing organizations who help children facing medical challenges by securing sponsorship and creating contracts for them with vendors so that they can put on “for purpose” charity functions and get high-paying donors. But it is not “charity work;” it is a powerful force to help people fashion legal documents that need help to continue their super work on behalf of children.

          • cait

            People like you are a God Send and we so glad and lucky to have you here with us !
            As for your allegation of my involvement with the Juicey appeal, I plead the Tre-rd amendment ! I never said that ! It was the Greeks, Melissa, Jaq, Caro, but not me !

          • Stacy Slotnick

            I appreciate that, cait, and I thank you so much for posting phenomenal comments here. I love that you understand giving back is essential to our being fully functioning human beings.

            As for volunteering you to work on the foreclosure action alongside me, it was a gesture of appreciation from me to you for offering up my services. 🙂

          • cait

            I await my travel plans and plane ticket in the mail ! I’m packed and ready !

          • Stacy Slotnick

            Well, we would have to spend time deep in the forests of suburban New Jersey. We can strategize at one of Jersey’s famous diners serving mile high sandwiches.

          • cait

            How big do you think my mouth is ? Oh ! Oh ! You have read my posts ! Mea Culpa !

          • Raine Woman

            I agree. It’s a soulless home, just like the Giudices!

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Spot on Raine. There is nothing homey about that marble mausoleum.

          • Raine Woman

            Hi’ya Tiger! Keep that BP in check. 🙂

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Ha-ha! Thanks Honey. Will do. Wild morning here. Cold, windy, rainy. Hope you are safe & warm.
            I have little tolerance for stupidity. I don’t “do” stupid or shysty well.
            I have great disdain for liars & thieves. I guess it just angers me that there really seems to have been no justice for all the people & businesses they’ve harmed. It hurts my heart for all of them.

          • Raine Woman

            It’s the same here, but I wouldn’t be me if I didn’t love a rainy day! 😉 I hope you got out and enjoyed the sunny weekend.

            With the whole foreclosure, I feel like they’ve stolen that house twice now. If they can’t afford it, they should get the hell out. Not these two, they will drag it out until those kids are hauled out crying. These two don’t deserve any kind of judicial process that comes with foreclosure, esp. considering how cavalier they are towards the Law to begin with. Now my BPs up! LOL .

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Eeek! I’m sorry Love. Didn’t men to get you all riled up too! LOL! Unfortunately I worked all day Saturday, but it looked nice & warm & sunny from my office window.

            You said it perfectly Rainey. They have stolen that house twice now.
            I just want, check that, NEED to see some sort of “fitting” justice served up to the Giudices. They seem to just skate by in life, time & time again & it pisses me off. Criminals like them should not be rewarded in any way, shape or form.

  • Shy-ra

    So, theoretically, she can be released from the clink and just start filming in the gaudy “mansion” for a couple of seasons until they’re booted out on their arses? That’s outrageous. She shouldn’t spend another night in that “mansion”

  • Just a jersey girl

    Stacy,
    It looks to me like the Giudice’s took out one of those crazy interest only loans, that was fixed for ten years. How come we never heard of the epa violation for cleanup

  • WestCoastFeed

    Does that lien by the NJ State Spill Compensation Fund for that spill that occurred at 1576 Maple Ave in Hillside answer the question we had the other day as to whether the Giudices still owned that property?

  • Just a jersey girl

    Stacy,
    I looked at the date of the restitution filing, is this something that the courts automatically do?

  • Just a jersey girl

    I might win a cookbook this week, just from this article. The Giudice’s took out a 50 year loan on that McMonster. How dumb can anyone be to take out a 50 year mortgage.

    • Stacy Slotnick

      Incredibly significant find, Just a jersey girl. Check out the thread immediately below begun by Raine Woman in which we discuss the ramifications of a 50-year mortgage.

      • Just a jersey girl

        Thank you Stacy. I think you are phenomenal.

        • Stacy Slotnick

          I am beyond appreciative, Just a jersey girl. To be fulfilled successfully, you need to find something that motivates you, and I love bridging the gap between legal practice and legal education. Whenever I can lend analysis to legal documents or cases, I am happy to do so. Posters like you make the experience doubly meaningful.

          • Elizabeth Fisher

            I’m enjoying both of your posts (I think y’all are both phenomenal) 🙂

          • Stacy Slotnick

            Thanks Elizabeth! Back at ya. We’ve enjoyed your participation today! Glad we could shed light on the case.

          • Just a jersey girl

            Elizabeth and Stacy,
            Thank you. You are both honest intelligent females. This is becoming my favorite site. People can give their honest opinions and be treated respectfully.

    • WestCoastFeed

      Maybe not so dumb if you never intended to pay it back, or planned on defrauding some other bank for a bigger loan to pay this one back. They had a kind of mortgage Ponzi scheme going.

      • Raine Woman

        Great point, West!

      • twifan2

        That house back in Italy must be looking pretty good right now to Juicy.

        • Elizabeth Fisher

          I would imagine the apartment over the defunct Pizzaria is probably looking good to Juicy right about now.

          • Just a jersey girl

            To be honest that looked like a nice apartment to me. It was updated and looked clean, minus the lack of heat the tenants never received.

          • WestCoastFeed

            And notice the utility company is still trying to collect that old bill in the lien listed for them above.

      • Just a jersey girl

        I think they were greedy and stupid like the banks who approved these stupid loans that ruined the country. A fifty year mortgage for that McMonster. The best way to sell this property is to knock it down subdivide the four acres into 4 lots and maybe they can get $2M.
        I have seen this monstrosity from the street, it does not fit in with the neighborhood. The neighborhood has very nice 3, 4 or maybe 5 bedroom homes that most of us would love to live in. This was overbuilt for the area.
        Though I am starting to realize Teresa is smarter than she portrays on TV, she knew what they were doing.

        • Elizabeth Fisher

          That is an excellent idea to tear down the house and subdivide the land. They could probably even get 6 tracts of land out of those four acres. Tre’s house is very “personal” in the finishes. The only room in the house that wouldn’t need to be renovated is the kitchen. Her bathroom is atrocious with the orange and gold. If they tear down that house and sell 6 tracts of land, the bank will get its money back.

    • undergroundrailroadtrain

      I feel stupid. I didn’t even know there was such a thing as a 50 year mortgage

      • Just a jersey girl

        Neither did I, I heard of 40 but that was for people who might lose their homes and had received a loan modification, but than I never applied for a $1.7M loan either

  • honeybunny

    I’m surprised they were making payments up through November 2014. I bet they took that December payment and spent it on the girls christmas gifts. I think in the next interview they do they should ask Joe how’s he paying for the utility bills and the grounds upkeep. Money has to be coming from somewhere. He couldnt even say family because that would be considered a gift that could be taxable.

    • Just a jersey girl

      Honeybunny,
      Your comment has me wondering if Joe riding a tractor lawn mover count as driving to cut grass,

  • Just a jersey girl

    Stacy,
    I think you are great. I have another question regarding the paperwork. Can the proceedings be held up because the amount of the restitution to be paid is incorrect. Teresa already paid $200K, therefore the amount is incorrect.

    • Stacy Slotnick

      You raise a good point. Anytime a judge is looking at mistakes in legal filings, it could spell trouble for the party who filed flawed paperwork. Cases are routinely thrown out for service of process issues and filing the wrong paperwork even if the party who benefits from said action was clearly in the wrong on the merits. There is case law that says if a bank does foreclose on the basis of shoddy paperwork, the whole process is legally invalid. Lenders should review their operations and determine the accuracy of the materials involved in a mortgage, as is required by law. Whether the amount of restitution cited to in the document turns out to be legally relevant remains to be seen.

      Early on in the housing crisis, the shoddy handling of paperwork came to light in court, where bank officials testified that they had signed thousands of documents a month, often without reviewing the information in them. Scary but true. It’s definitely an argument the Giudices’ foreclosure criminal defense attorneys can make since the mortgage was obtained during this time period in which banks were lending with abandon.

      • Just a jersey girl

        Stacy, Thank you. You are the best

        • Stacy Slotnick

          That’s very, very kind of you. I’m happy you found the analysis quite helpful. Thanks for the pitch-perfect questions.

          • Just a jersey girl

            Stacy,
            Thank you. I can honestly say I have respect and you have restored my faith in lawyers.

          • Stacy Slotnick

            That is a huge compliment. I am so pleased you joined us here on AATT.

          • bellaboo

            I love this site. Its the 1st one i go to everyday, mainly because yall feel the same way about those convicted felon idiots

          • Stacy Slotnick

            Yeah! Thanks bellaboo. We are very glad you catch all the latest news here on AATT. I thank you for joining us here today to discuss my new legal blog. Anything in particular that peeves you about this foreclosure action? Do you think the Giudices will fight it in court?

          • bellaboo

            Hell yea, i wouldnt be surprised if she has found another inmate in there who knows exactly how to scheme to get this marble cave back, it is a fed pen, white collar frime. She is probably playing the victim so somebody will help, i mean you know how those criminals get a rush in trying to break the law & getting away with it

          • bellaboo

            I also want to let yall know how much fun its been sharing my thoughts & feelings with all yall who feel like me. So good to get it off my chest, since im alone and am on disability, because im hiv+

          • twifan2

            Oh bellaboo, no need to feel alone! Come on AATT any time! 🙂
            We all enjoy a lively debate, exchange of thoughts, ideas…
            Just put it out there when you have the need to! 🙂
            & welcome to AATT!

  • Elizabeth Fisher

    I remember reading years ago that when Tre and Juicy bought this house, it was originally built at 6,000 sq. ft. (for less than $700,000), but they proceeded on a two-year renovation to bring it up over 12,000 sq. feet. If only Tre had tried to make do in a 6,000 sq. foot house, they might not be losing this monstrosity in a bankruptcy.

    • Just a jersey girl

      You are so correct. The purchase was $589,000 so even if they updated it say for $100,000 they would be sitting pretty. I bet you the original home was more appealing anyway.

      • Elizabeth Fisher

        Exactly and I don’t know how much updating/renovating they would have to do since I thought it was a brand new house that they bought and then renovated. If they needed to just add on another bedroom only, they could have easily done that for $30,000. A 6,000 sq. foot house is huge. I can’t fathom how a family of five (at the time) couldn’t live in a 6,000 sq. foot house.

        • Just a jersey girl

          At one time I had me and my spouse, 4 adult children one infant 3 dogs and a cat living in 2,500 3 full baths we were fine.

          • Elizabeth Fisher

            Exactly (to both of y’all). I’m overwhelmed cleaning my small house and I’m the only one living there (with the exception of a 22 lb. Maine Coon named Lucy who has quite the knack for dragging cat litter from one end of the house to the other – seriously) 🙂

          • Just a jersey girl

            So agree, not to mention the cost of heating and cooling your home these days. That is a mortgage in itself.

        • undergroundrailroadtrain

          I am overwhelmed by my measly 1500 sq ft home sometimes when it comes to cleaning it

          • Just a jersey girl

            I downsized to 1500 square feet myself. At this stage of my life I would be happy in a studio apartment.

  • WaWaWaWHAT!

    While I believe they should move from that marble mess since they didn’t pay for a single damn thing in there…something tells me that they’ll save the house somehow…

    Even though I would gain pleasure in them living in a ‘used’ home…while that marble mess sits there collecting dust…

    • Stacy Slotnick

      They have a lot of legal “outs” at their disposal should they want to avoid foreclosure or try and work with the lender as I discussed in the blog. Plus, the process could take 3 years in which time Teresa could get a new show, “write” a few best-sellers, get a fragrance line, secure a Target capsule collection deal, etc., etc. I’m being presumptive purposely but merely in an effort to show you 3 years can change a lot. It is a long time for her to position herself with the right people and make money to pay for the home.

      • Pandora403

        I kind of said the same thing above but you said it so much better! I’m afraid we are both right.

      • A Reader

        Even if Teresa were to profit from her misery in a year, would it make sense financially to save this home? i would imagine they would be subject to penalties, interest and other bank and attorney fees that (to put it simply) would justify walking away and starting over in a smaller, more affordable home. Given we are discussing TG and JG, chances are they will hold on tightly to what should have never been their home in the first place.

        • WestCoastFeed

          Hey, they stole it fair and square. With a phony tax return and a faked bank balance of $500K. This mortgage was just one of the initial 39 counts.

        • Stacy Slotnick

          A 50-year mortgage means much higher interest rates, which in this case amounted to an initial interest rate of 7.25%. Astronomical. Therefore, not much of the monthly payment goes toward principal making it harder to build equity in the home. Most financial advisors would counsel against a 50-year mortgage. In short, I think you make a valid argument that if they needed a 50-year mortgage to begin with, they probably purchased more home than they could chew.

          • A Reader

            I have never heard of a 50 year mortgage. Such a joke.

          • Stacy Slotnick

            You probably haven’t familiarized yourself, A Reader, with a 50-year mortgage because they are highly unusual. Most experts instruct borrowers to steer clear of 50-year mortgages because the loan term is so long, the borrower pays more in interest and building equity takes much longer. Considering a 50-year mortgage oftentimes equates to borrowers buying more home than they can afford.

        • Stacy Slotnick

          In some cases, borrowers choose to stop making payments simply because the home has become a bad investment. The problem is the Giudices may still owe the difference between the sale price and the total debt because NJ has a deficiency statute. In New Jersey, if you go through a judicial foreclosure and the sale price is not enough to cover the balance of your mortgage, your lender can come after you for the “deficiency.” Moreover, their credit score will negatively be impacted and they will have a tough time renting or purchasing another property. It is a good question, you pose, and not an easy one for the Giudices or their attorney to answer.

          • cait

            Judge Judy would sort this in a snarling heartbeat !

          • Stacy Slotnick

            A little straightforward/pragmatic advice never hurt anyone. 🙂

          • cait

            So ain’t we lucky we got you ? Unlike J. Judy, Bravo will not end up paying the damages of $13m

    • bellaboo

      What kills me is she will live there free, & only have to pay utilities, & ins. If joe isnt working, how the hell can they afford ANYTHING AT ALL? I live in a 1 br apt, & my elec bill is @ least $100 a month. Ins has got to be crazy. Then there is food, gas before his license was revoked, & how are they getting anywhere now.

      It just seems as if, no matter what they seem to still stay on top in 1 way or another. I absolutely hate liars, cheaters, & hustlers, grifters

  • Pandora403

    So the Guidices have plenty of time to remain in the house and for Teresa to be released from prison. The scenario I’ve got floating around in my head is Teresa makes a bundle of money with interviews post prison release. Then, if handled correctly, Bravo does a “redemption” storyline. Everyone likes a comeback story. All Teresa has to do is humble herself and she might pull this off. She may be Italian but that woman has the luck o’ the Irish.

    • Shy-ra

      Sure hope not

    • misstc

      Yep! Bravo won’t lose a stitch in profiting off a felon. Sad & sickening.

  • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

    & this is exactly why I have such high blood pressure & my heart rate is 180. J/K. LOL!
    Great blog Stacy. Thanks for all the info & for breaking it down for us.

    • Stacy Slotnick

      Thanks Tigerlily! Don’t let the foreclosure action raise your blood pressure. Meditate or watch a rerun of RHOBH (yeah right) to help lower your systolic and diastolic numbers. What angered or surprised you the most? I’m delighted you enjoyed reading the piece.

      • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

        The Giudices themselves is what irks me most.
        Actually it’s their behavior & their mindset that irks me most. Who thinks like that?
        D’uh, the Giudices do.

        I guess I’m PO’d that it was allowed to happen in the first place. I understand the timing of it all & the mortgage loan scams that were happening everywhere at the time. But how could the Giudices fugazy so much paperwork time & time again, year after year, loan after loan & no one saw any red flags?
        Even Bernie Madoff was found out by one person. One guy saw all the red flags. Did some forensic accounting & desperately tried to get the SEC to listen. He tried to blow the whistle, but no one paid him any attention but he did see it & tried to warn others. I guess I am just baffled by the depth of deception it takes to pull off the criminal acts they did. I mean, imho, these people really did have a criminal enterprise going.

        • cheryl

          Melissa posted as anonymous on a blog called on common ground when the show first started and said the Guidice got a fifty year mortgage and spilled they owed taxes and implied Joe’s businesses were not legitimate. A lot of what she shared on that site turned out to be true. Seems the bad blood between the Gorgas and Guidice went way back.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            The second I saw Teresa pull out almost $200,000 in cash to pay for all that gaudy azz furniture in season one of HW’s? I knew right then & there they were shady criminals who were full of chit.

          • misstc

            I thought the very same thing!

          • WestCoastFeed

            Me, too. But back then I excused Teresa on the grounds of her being a ditzy airhead. I thought it was all his doing.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            That & the everything in “cash” comment was eye opening.

          • bellaboo

            WAY TO GO MELISSA. T TREATED YOU LIKE A PIECE OF DOG SH*T ON THE BOTTOM OF HER SHOE. I LIKE MELISSA, & LIKE HER EVEN MORE NOW, BECAUSE SHE GETS UNDER TG SKIN, & TG CANT DO A THING ABOUT IT. IM ALL FOR MAKING TG GO CRAZY

          • Stacy Slotnick

            Very interesting. Thanks for the information.

        • Marsbars09

          Great observation T-Lily.
          I too wonder how those dumb f*cks got away with scamming so many people & businesses for so long.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Thanks Marsie. I just don’t understand how you can continually scam all these businesses & individuals & nobody saw a problem.
            How does that happen?

            Sorry in advance if this is too long. In my job I deal with Federal & state laws & the banking industry.
            I know a gentleman who was the Compliance Officer for a very large, very well known bank.
            Very large. Very well known.
            In a nutshell, his job was to make sure that no one person or business laundered money through the bank. He discovered that money was being laundered & immediately went to his superiors to alert them of the problem.
            They decided to ignore him & ignore all the red flags because apparently their profits from said unscrupulous businesses were the bottom line. They did nothing. Basically he alerted them time & time again. He has no power or authority to stop what was occurring & he did not quit his job.
            The Feds eventually came in & fined that specific financial institution. Big money. BUT. The Feds are now prosecuting & fining him as an individual. Even though it was not within his scope of power to stop the company from doing business with Mexican drug cartels, he is being prosecuted & the higher ups at the bank are not. They have not even been personally fined.
            How the feck does that happen? I mean WTF???

          • Stacy Slotnick

            Unfortunately, governments look the other way for one reason or another and they do not always investigate crimes that turn out to be large in scope. Why did SEC lawyers ignore countless complaints about Bernie Madoff? It goes against our understanding of what government is supposed to do, namely function to protect the public and gather information. At the same time, we have no idea what their caseloads were like or who they were investigating simultaneously. Its a tough call but I completely understand your frustration with the mindless number of crimes the Giudices committed under the eye of authorities. (Remember too that the financial collapse of the markets in 2008 truly exposed many criminals because no longer was the liquidity there to fund their crimes.)

        • misstc

          The only way the Fraudices will get out of this mess will be by dreaming up new schemes; as we all know a good steady job won’t keep them in any house.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Tre & Juicy can start their own business. Showing banks & honest business people how not to get scammed by scheming con-artists like themselves. I see it all the time. The hackers show businesses how to avoid being hacked. The forger shows them how to avoid forgeries & so on & so on.
            Eep! Hope I didn’t give them any ideas. LOL!

          • bellaboo

            Do you think BRAVO will put her back behind the camera, & pay her the big bucks. See im so frustrated thinking BRAVO will put her BACK on her effing pedistal inwhich she doesnt even deserve to make big money. She should have to go pound the pavement to find a min wage job, & live in a 2 br apt. If BRAVO gives her job back, i will never watch bravo, but i will boycott all advertisers products. Im so illiterate on the computrr, because if i wasnt i would get 1 of those petitions to let bravo know how the bravo fans feel.

            I dont know, im just so damn frustrated, & IM SO DAMN MAD AT MYSELF FOR EVEN THINKING ABOUT THIS, MUCH LESS WRITE THESE POST. I JUST DONT LIKE WHEN CERTAIN PEOPLE MANAGE TO GET AWAY WITH SH*T, WHILE OTHERS WHO ARE MUCH BETTERMPEOPLE SUFFER, STRESS, COMPLETELY LOSE IT BECAUSE THEY ARE SINGLE MOM OF 2 HAVE A HARD TIME EVEN FINDING A JOB MUCH LESS A HOME. UUUUGGGGGGGHHHHHHH, (TO MYSELF ) YOU STUPID MFFING BITCH

          • WestCoastFeed

            Look at all those people who want Bravo to fire Kim Richards over a misdemeanor drunk and disorderly, but want the felon who cheated folks of millions of dollars to come back and grace our tvs.

          • bellaboo

            I know, everytime i see the blogs talking about it, i ALWAYS GO ON A RANT about how kim didnt hurt anybody (except hurting her family), while t&j stole from so many people & is serving time in the pen, NOT JAIL, PRISON, yet bravo has NEVER said ANYTHING about what they are going to do. If an employee behind the scenes did this, they would immediately be fired

          • WestCoastFeed

            If Kim needs a “sobriety clause” in her Bravo contract, does Teresa need an “honesty clause?”

          • bellaboo

            Idk, but i do think bravo needs to fire whoever breaks the law, & is convicted of said crime. They would fire a receptionist in a neartbeat

          • cait

            BB, BREATHE, swig the vodka…….BREATHE, swig the vodka……..BREATHE…….collapse ! When you wake up, destroy your Caps Lock button !

          • misstc

            ITA! I also HATE when ppl with no moral compass keep getting breaks & money for doing NOTHING! This also goes for the Hiltons/Kardashians & ppl like them with no talent who gain such wealth & fame for doing nothing!

          • bellaboo

            I really do think they wont be working just a steady job, bravo will pay them $, $$$, $$$. $$
            to get back in front of the camera, WHICH PISSES ME OFF. THEY NEED TO WORK A 9-5 JOB, NOT SOME CUSHY JOB, WHERE YOURE PAMPERED, FED, DRIVEN, PARTYING, & HOCKING YOUR SH*T

        • bellaboo

          So are you saying teresa & joe really did know EXACTLY what THEY were doing?? All along ive been saying teresa was the person behind all of this, & especially when the lawyer said she pretty much knew more than she put out there.

          • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

            Absolutely. They both are accountable. I never believed that stupid, “I’m an old fashioned wife who just does what my hubby says” act. They are both equally guilty in my eyes.

          • bellaboo

            Me too, in fact i think teresa was the boss

          • cait

            BB, I think Joe is just a sap who was led by his greedy, conniving missus ! After Frank said “We did nothing wrong” I think all the Guidice clan were involved in some way !

          • bellaboo

            I even wonder if the giudices hid money, when the rumors started about the bankruptcy, remember when jacqueline came right out & asked tg if she was going to jail?? The look on tg face Was priceless, guilt ridden, & priceless. When tg gets caught in a lie, or anything that is wrong, she flutters her eyelashes, and does something with her mouth. Because how the hell is joe lliving if hes not working, i mean i could understand if he wasnt living TOO MUCH above his means, therefor family helping, thats why i think they hid some money

          • cait

            Papa Juicey, took over a cobblers shop from Kathy’s Dad, years ago, supposed to buy it, but screwed over the poor man !

  • Marsbars09

    Hi Stacy! So in a nutshell the reason it took the courts so long to evict the Giudices’ was due to the real estate disaster?
    I find it ironic that things are finally coming to an end while Tre is locked up. She must be losing her damn mind.

    • Stacy Slotnick

      The way in which the real estate crash and financial crisis impacts this case has more to do with the Giudices getting extra time in which to figure out a plan to stay in their home and avoid foreclosure, if that is their intent. There is a
      backlog in foreclosures – New Jersey has one of the longest wait times for
      foreclosures as a result of the real estate market tanking – so it could take 1,000
      days or nearly 3 years to resolve this action.

      • cheryl

        if they dont keep up with property taxes during the foreclosure time, could that not expidite the process?

        • Stacy Slotnick

          That’s a really good question, cheryl. Foreclosures in NJ are a judicial process, and so there are strict timelines in which the Complaint, Answer, Motions, Entry of Default, etc. are filed that will not be dependent upon the Giudices’ alleged failure to keep up with property taxes.

  • Imstillstanding666

    I disagree. I think she’s laughing at all the haters. She’s going to get out, live in her mansion for many more years and bravo or book sales/interviews are going to allow her to keep her home

    • Shy-ra

      I hear ya! If there’s a way to scheme her way into saying – you know she’ll do it. I really hope this isn’t even a remote possibility. She needs to pay back her millions before being allowed to reside in her “dream home” – so outraged even thinking about it!

    • Stacy Slotnick

      She has a platform that if she uses it wisely, she could be huge again. I don’t say that lightly. There is attention surrounding her and she could land a book deal or new show. People want to see what happens, and publishers and agents will pay her for it — perhaps.

      • MidwestMiddie

        Count me out!
        I’ve never have bought any of her tasteless stuff and never will.
        I refuse to watch any new show she may be on and if it is on Bravo, I
        will not watch any of Bravo’s Shows ever again.
        Bravo should have gotten rid of this
        felon and her family a long time ago.

        • Stacy Slotnick

          It begs the question, will Bravo have Kim Richards back now that she could be facing jail time, albeit for another reason entirely.

          • MidwestMiddie

            I hope Bravo doesn’t rehire Kim Richards.
            If she is rehired I’l skip watching RHBH.
            Bravo has lost sight of what the word, Entertainment, means.

          • bellaboo

            You said it perfect

          • Stacy Slotnick

            There is something about the Bravo model that breeds a certain type of personality and behavior. Is it indicative of society in general? Do people who embrace the spotlight have a different axis of morality and ethics? Where do you cross the line between good entertainment and sleaze? Sorry for the avalanche of “big” questions but I love all your thoughts about these matters.

          • bellaboo

            I honestly think each hw is in some type of compitition with other cities. Just look at nene, always saying, IM RICH BIT*H, & will be the MEAN GIRL in her own city, because she is SO AFRAID somebody will become not onlh more popular, but just a little popular, & i also have to put some, well THE BLAME ON ANDY, HE KEEPS STIRRING 1 CITY UP AGAINST ANOTHER CITY. HE DOES IT TO DRUM UP WATCHERS.
            I USED TO LIKE NENE, NOW I CANT EVEN WATCH HER, LUCKILY SHE HAD VERY LITTLE CAMERA TIME, & SO MUCH OF IT WAS IN NY, & WHILE SHE WAS THERE THIS FAKE BIT*H WAS THE ONE WE SAW. SHE TRIES SO HARD TO BE SOPHISTICATED, BUT THAT GHETTO ATTITUDE STILL COMES OUT. I could go on & on about each city, but no more crap

          • MidwestMiddie

            Bravo changed models and fooled us.
            We, viewers, were promised Reality Shows about
            wealthy women/housewives living lives of luxury, class and distinction.
            Look at the what Bravo gave to us. GAG!
            Crooks, Fame Whores, Liars, Felons, Vulgarities, Hatefulness,
            Classlessness, etc….

            IMO, there are two kinds of people who embrace the Spotlight –
            Talented people who want to share their gifts and enrich the world
            and
            Those who have nothing but massive delusional egos.

            Morality and Ethics – the highest standard does not
            require money or fame.

            Bravo is not indicative of society in general. Honestly, at times
            I think society is better and at times worse.
            We deserve better from Bravo.

            Good Entertainment vs Sleaze: Preferences are based upon so many
            personal factors. I enjoy good entertainment and occasionally
            classy sleaze. ( I am over 21 years of age.) lol

          • misstc

            Drama is one thing, rachetness is another, and Bravo has changed from earlier shows, IMO. For instance, it was nice watching RHOA where the gals enjoyed themselves in Manila w/o Nene & it was obvious she was the rotten apple in the group. Same happened with Brandi not joining the ladies on last of evenings in Amsterdam showed me the fun those gals could have w/o having a person w/negativity not present and enjoyed watching the gals having fun w/o anger ego. Now shift to Teresa G and I can’t stand watching her act stupid; what I call acting like a “Dumb Fox Act”.

          • Ruth Ferguson

            People magazine reporting Kim to be on Dr Phil next Tues, April 28. She won’t see jail , the rules that apply to us never apply to them.

          • Stacy Slotnick

            I saw reports on this too. If she does appear on Dr. Phil and the episode airs (I believe he tapes his shows), she must be extremely careful about what she says happened at the Polo Lounge in Beverly Hills and what occurred regarding her dog Kingsley to precipitate a lawsuit. She could make damaging admissions depending on the types of questions Dr. Phil asks her. I would be surprised if her lawyer did not sit with her on the couch or appear in the audience to give her cues as to what she could and could not talk about.

            We will definitely stay on top of this topic to see if indeed the rules apply differently to celebrities.

          • itsjustme

            I can just hear her now. “I’m not going to discuss that”. “I’m not going to discuss KIngsley, he’s like my son”, I won’t believe ONE word she says unless she appears to be truly forthright with her addiction to meds and alcohol.

          • Stacy Slotnick

            There is no question she could “plead the Fifth” on a slew of Dr. Phil’s questions but he’s known for pressing hard on his guests and using his psychological know-how to uncover facts. Let’s all stay tuned.

        • bellaboo

          Not only NOT BUY ANYTHING AFFILIATED TO HER, BUT IF BRAVO PUTS HER IN FRONT OF THE CAMERA, I WILL NOT ONLY WATCH BRAVO, BUT WILL HURT BRAVO BY BOYCOTTING THEIR SPONSERS, & IS THERE ANYTHING WE CAN DO TO PROTEST TO LET THE SPONSERS KNOW WE WILL BOYCOTT???? TO HURT THEM WHERE IT COUNTS. I KNOW WE ARENT THE ONLY ONES THAT FEEL THIS WAY

          • MidwestMiddie

            You’re right bellaboo.
            We’re certainly not the only ones.
            : )

          • cheryl

            yes..and i have researched the head of advertising and product development for Bravo east coast.

          • bellaboo

            Im not good on the computer, but i will do anything to help, if you tell me what to do, because i do pickup pretty quick, plus im on disability, therefor i dont work, have plenty of time on my hands

          • cheryl

            me too bellaboo..thats how ive had the time to do the research

      • cheryl

        only if the true story of her and her husband never sees the light of day. Any appeal for Teresa has been superficial and cloaked by Bravo with a false narrative from Teresa and Bravo. Only if someone dosn’t tell her story before she does.

        • Stacy Slotnick

          Absolutely agree. Humility, transparency, and honesty must be the driving forces behind anything new they sign on to. Sure there will be handlers helping them do so but a revival campaign for Teresa will only work if she is honest, and we know that is a long shot. But its interesting from a PR standpoint the possibilities of what will be offered to her to tell her story.

          • cheryl

            “The InGREEDYances of My Life..the infamous Teresa Guidice” pop culture touchstone for excess and duplicity.. my working title.HAHA!

          • Stacy Slotnick

            Just brilliant. Let’s trademark it.

        • bellaboo

          Thats exactly what i said. If any of those inmates started writing a book about teresas life inside this prison, she would make a fortune. I know i would buy it, but tg can go straight to hell with her so called ghost writer which is the only way a person would be able to read it.
          i just keep hoping. These inmates thrive on hustling, so maybe, just maybe someone in prison write this book, & it would be better if a guard would write it

  • WestCoastFeed

    NJ dot etc now is reporting that the shore house auction is scheduled for sometime in May. Minimum bid is $100. Stacy, do you think since they are facing 3 foreclosures they will try to fight any of them?

    • ♥♥♥ Tigerlily ·.¸¸.·*¨·.·.¸¸.

      Curious, does having 2 or 3 different foreclosures at the same time affect the way the bank will deal with them concerning the foreclosure on the manse?

      • Stacy Slotnick

        Each foreclosure action is separate and apart from all others. The actions do not get bundled together but tell me a little bit more about what you mean by “2 or 3 different foreclosures affecting the way the bank will deal with them?”

    • Stacy Slotnick

      I think if they are going to fight foreclosure in any case, it will probably be on the Indian Lane home, which is their primary residence. (I haven’t seen or heard of an Answer being filed to avoid foreclosure on their shore home.) What say you?

  • BuckJohnson

    I think the bank should take a short sale and get rid of this monstrosity off their books and take a loss (and get govt. money for the loss) and kick these idiots out quickly. People are waiting for this thing to be in a price range where they can buy it and nobody and I mean nobody is willing to buy that for the price over the market of 1.7 million and I may be wrong on the 1.7 million market price it could be lower. It will cost the bank more money to keep filing this and that and they would be better to go a major short sale and say get out Giudices.

    • misstc

      Also, they need to find the right buyers for this ostentatious monstrosity of a home. I’m sure some drug dealer with no taste might find it appealing LMBO

      • cait

        Maybe they should approach that Brave Mob Lot ! Suit them down to the ground !

  • A Reader

    It will be interesting to watch whether the Guidices hire an attorney to stall the legal process. This is done in Florida all the time and homeowners can stretch out their free ride 1 to 2 years before the final judgement. If only we could get inside their heads for a day to understand what they intend to do…..

    • Stacy Slotnick

      New York, New Jersey, and Florida foreclosures can take a very long time to be completed — sometimes as long as a few years. The Giudices have many legal options to pursue should they opt to fight foreclosure or avoid it altogether as I write in my blog. You are correct that it will be interesting to watch the legal process unfold and see whether the Giudices file an Answer.

  • cait

    Mr Kridell pointed out to Stacy, last week, that Teresa had a much deeper knowledge of the law, on this subject, than he expected !

    • bellaboo

      Victoria gotti probably helped her!!

  • TartLemon

    7.25%!?!?!?!? Wow! Thanks Stacy.

    • Stacy Slotnick

      Amazingly high interest rate because the loan term is so long. Their mortgage story is a cautionary tale and one that many people understand well because they bought more home than they could chew in part because the banks allowed it. Vicious cycle that benefited no one and caused the housing crisis and financial collapse.

      • WestCoastFeed

        Of course falsifying their financials on the mortgage application helped.

        • Stacy Slotnick

          Most definitely but part of the reason they were able to obtain the mortgage despite the fact they really didn’t qualify and falsified documents is because this was pre-2009 in which lenders operated from a different philosophy entirely.

          • WestCoastFeed

            They were caught up in bubble mentality. It happened in Holland about 400 years ago. People never learn.

          • Stacy Slotnick

            Excellent point. History is cyclical. I just think that the way the Complaint In Foreclosure reads is a major cautionary tale about the housing market and as you say, bubble bursting.

      • misstc

        Also people need be aware of predatory companies that will screw one quickly; like Fingerhut. Simple math should reveal anything one buys from companies like them will bite their wallets hard; buying a TV for example will cost consumer 5X over what it’s true value is & many do this because their credit is terrible.

  • TartLemon

    You can’t run from cyber accounting. Every ¢ the Juicys earn and spend is red flagged.

  • kathy

    So sad, got caught up in this lifestyle,, shame they weren’t smart enought o realize that getting caught up in greed really does blind you. Poor girl have to live life with their parents mistakes. . Hopefully thry realize working hard has it best rewards.

    • Stacy Slotnick

      Yes. All good points. Hard work and living within one’s means a surefire way to stay out of mischief and out of the criminal justice system.

  • Cat Tray

    So in, other words they get almost freebie living in the house or until Andy Cohan bails them out. Four another five years genious they knew this before she went on her spa retreat, she has not learned one thing if any thing he/she well become more arrogant and blame every one but themselves. What a waste of tax payers money.

    • Stacy Slotnick

      It is indeed surprising to many that during the foreclosure process, borrowers who haven’t paid their mortgage (principal, interest, etc.) can still live in the home that is the subject of a foreclosure action.

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