With less than two months to go before Joe Giudice leaves for federal prison, Real Housewives of New Jersey star Teresa Giudice’s lawyer says the couple is trying to “do more with less” — but that doesn’t mean giving up their million dollar mansion.
Teresa and Joe were able to avoid foreclosure on their Towaco, New Jersey home by bringing their mortgage payments up to date, but they lost their Manahawkin summer home to the bank in August. The home was sold back to the lender for the minimum bid of $100 ten years after the couple purchased it for $347,000.
Next up? The couple’s Lincoln Park rental property is in foreclosure after failing to sell for $179,000, so it’s going up for auction. According to the Morris County Sheriff’s Department, Teresa and Joe owe the lender $212,000 for the 3 bed, 1 bath home on 86 Pine Brook Road.
An auction for the property is scheduled for March 31, shortly after Joe begins his 41-month prison sentence at the Federal Correctional Institution at Fort Dix for bankruptcy fraud and conspiracy to commit mail and wire fraud.
Even with the Lincoln Park home auctioned off, Teresa and Joe still owe an undisclosed amount of money to creditors and $551,563 to the IRS for failing to pay taxes for nine years.
Attorney James Leonard tells NJ Advance Media that paying off the IRS lien is a “priority” and the RHONJ stars are “eliminating excess and focusing on doing more with less.”
Apparently the nearly $90,000 Lexus Joe gave Teresa as a welcome home from prison gift is part of their plan to do more with less.
— Teresa Giudice (@Teresa_Giudice) January 22, 2016
Teresa was released from prison on December 3 and is currently on house arrest. According to a previous report from Starpulse, she will have her ankle monitor removed on February 5, just in time to start her book tour for her new book, Turning the Tables: From Housewife to Inmate and Back Again, due to be released February 9.