NEW JERSEY HOUSEWIFE TERESA AND HUSBAND JOE WERE FAKING WEALTH: THEY’RE BANKRUPT

The “Real Housewives of New Jersey” continue to live up to their reputation. Producers must be thrilled since Teresa Giudice (the table flipper) and her husband Joe have filed for bankruptcy because they’re 11 million dollars in debt. (In January, Joe was arrested for DUI when he ran into a pole and flipped his truck). While he was drinking, Teresa was shopping. According to the NY Post, they lived in an 1.8 million dollar 10,500 sq ft, marble and onyx laden home which is being foreclosed upon, yet their combined incomes (including her Bravo salary) add up to only $79,000! Credit card bills, Cadillacs, bad investments, home repairs, fertility treatments, implants, etc, totaled 11 million in the hole. How the mighty have fallen.

Posted by Janet on June 5, 2010

There are 16 Comments.  TELL ME WHAT YOU THINK!

16 Comments so far

  1. By Reta
    On June 5, 2010 at

    Mighty????? I call it beyond stupidity. Are any of us “normal people” supposed to feel sympathy for these nitwits? NOT! Any idiots who can’t function on $79,000 without going into debt deserve eactly what they get. I hope they get jail for running up bills like that on someone else’s dime. Disgusting!

  2. By captain america
    On June 6, 2010 at

    well, THIS STORY IS FAMIARE WITH ABOUT NINETY PERCENT OF THE PEOPLE LIVING IN THE UNITED STATES, folks.
    ………sorry to say but it’s the truth.

  3. By Missy
    On June 6, 2010 at

    I’m curious how they got a mortgage for such an elaborate home with such a small income? Aren’t there income requirements to buy a million dollar home? And what does that hubby do for a living? He looks like a construction worker at best.

  4. By Li'l Off Broadway
    On June 6, 2010 at

    Throw them both in the slammer.

  5. By right
    On June 6, 2010 at

    An obvious case of financial fraud. Phony bullshi* on the Housewives series? Shocking. The entire franchise is built on fraud.

  6. By Sally
    On June 6, 2010 at

    Well color me surprised!!!! These two look low rent. I watched this show once and found her personality grating and I thought “money can’t buy class”, but now I see she and her husband can’t afford to buy a clue. They’re so damn tacky from their clothes to their home.

  7. By Sally
    On June 6, 2010 at

    Janet! $79,000 a year doesn’t make one with four children “mighty”. Sadly, nowadays that’s not a lot of money when you have six mouths to feed and bills to pay.

  8. By Dragonfly
    On June 6, 2010 at

    But Sally, the point is it can be done when you are not living way above your means which they clearly were. They wanted to pretend to be rich, well it cost them everything because now they will lose it all.

  9. By Sally
    On June 6, 2010 at

    Dragonfly, I’m not defending these pieces of trash at all. I’m just saying $79,000 a year is not “mighty” since Janet said “how the mighty have fallen.”

  10. By Missy
    On June 6, 2010 at

    $79,000 is a lot in places down south where things are cheap but if you live in NYC or LA it is literally NOTHING. You couldn’t even buy the cheapest crappiest house in LA or NY with that. Jersey is pretty dam expensive, almost as much as NYC which is why I wonder how they got that house in the first place. Sounds like maybe Hubby has MOB income or something that isn’t reported. I get that vibe off most of these women.

  11. By Reta
    On June 6, 2010 at

    Missy, I agree with you…I have only seen part of the episode where this trollop flips the table, and the other one was saying something about her book where she supposedly admits to once being an “escort” (hahahahahahaha)! They ALL do look and sound like mob wives to me and it sure would explain a LOT wouldn’t it? I wonder if the shows investigate these people at all before putting them on TV and giving them money for being trashy witches?

  12. By Lenny
    On June 6, 2010 at

    These so-called reality shows are sooo over the top that who know where we are going with entertainment. 79,000 is about what normal celeb pay just a person to carry a bag for them. These two are just losers, who get’s a 1.8 million dollar home with 79k for take home pay.

  13. By Lydia
    On June 6, 2010 at

    The husband owns a construction company – they used to have money, the housing downturn caught up with them.

  14. By al kay duh
    On June 6, 2010 at

    lydia, I agree with you. so many people are now being hit, its not just the people living in the $350-825k homes now it is affecting the people living in the $5 milion dollar cribs. my boss has a lot of friends in that area and at first they were fine, now a lot of them are getting hit. it takes the wealthier people longer to fall because they had larger lines of credit to fall back on.

  15. By yoyo
    On June 7, 2010 at

    Instead of flipping tables & trucks, maybe now they can flip burgers. Welcome to reality.

  16. By funky booty
    On June 7, 2010 at

    there’s a difference between the well-to-do, the rich and the wealthy. three separate groups.

    if they were indeed wealthy, then there would be plenty of “liquid assets” to keep them afloat.

    sounds like they may have been rich, but was not good at saving and investing money.

16 Responses to “NEW JERSEY HOUSEWIFE TERESA AND HUSBAND JOE WERE FAKING WEALTH: THEY’RE BANKRUPT”




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