The Orange County Register obtained documents which suggests that Alexis and Jim Bellino defaulted on a loan on their $4.5 million home in New Port Beach, California. The Bellinos fell behind on their mortgage payments to the tune of $83,856.92, since April 2010. The home which was in serious danger of foreclosure, was scheduled for a public auction on August 25. However, the auction did not take place because, Alexis Bellino and her husband were able to get a home loan modification. Jim Bellino told The Orange County Register, “Chase Bank has been great to work with on my modification.” “The trustee sale has been canceled, and the modification has been agreed upon.”
The Bellinos purchased the 5 bedroom, 5- bath, 4,200 square foot home in July 2007 for 4.5 million. Due to the current real estate market conditions, the home is worth approximately $3.89 million. The Bellinos were trying to sell the home with little success, since May 2008.
Alexis and Jim Bellino join the ranks of other Real Housewives of Orange County cast mates who faced similar financial troubles. Former Real Housewife, Jeana Keough avoided foreclosure on her Coto de Caza home by obtaining a loan modification in early 2010. Tamra Barney short sold her home for considerably less than it was worth. Last, but not least, Lynne Curtin and her family were evicted from their Laguna Beach home after she and her husband, Frank mismanaged money and failed to pay their bills.
The Bellinos are the newest edition to the Bravo network reality show, The Real Housewives of Orange County. The couple joined the cast of the show during season 5. Alexis and Jim Bellino made headlines in July of this year after their 2 ½ year-old twin daughters allegedly rolled into a swimming pool, while in a stroller. The children did not sustain any life threatening injuries.
Sources/ related articles:
Housewife’ defaults on home loan, but stays in house, from www.ocregister.com, author Richard Chang
OC Housewives’ Jim and Alexis Bellino Default On $4.6 Mil Home Loan, Faced Foreclosure!