From the Star Ledger:
The same day the new real estate agent for “Real Housewives of New Jersey” star Teresa Giudice vowed to aggressively market their enormous Montville Township mansion, the bank that holds their mortgage started foreclosure proceedings against the couple.
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.
Community Bank was listed as one of the couple’s creditors in its 2010 bankruptcy filing, with a $1.7 million claim on the property. The couple eventually abandoned their bankruptcy claim after the trustee representing their creditors alleged they hid assets and income, which led to a federal prosecution that netted Teresa 15 months in prison (she’s expected to be out in February 2016) and Joe 41 months. The trustee closed out the bankruptcy proceedings last year after only collecting $7,500; the end of the proceedings gave banks and other credits free reign to seek repayment.
The couple also had two other properties on the market since last year: a vacation home in Manahawkin and a modest three-bedroom home they rented out in Lincoln Park. But they pulled those homes off the market earlier this month. According to Zillow.com, the two homes are in pre-foreclosure, although there has been no notice of foreclosure for the Manahawkin home filed with Ocean County Superior Court. In May 2014, a mortgage holder on the Lincoln Park property filed a notice in Morris County Superior Court, but no further action has been taken.