After struggling with financial issues for years, the Lauritas are losing their home to foreclosure. According to NJ.com, Hudson City Savings Bank has filed paper work to foreclose on their home in Franklin Lakes. In addition to their primary residence, a second home in Wayne, NJ is also being foreclosed upon.
According to documents, the Lauritas took out a mortgage for $1.6 million back in October of 2007 with monthly payments of $10,846. Based on the filing, the couple haven’t made a payment since since October 2014.
In early 2014, their home was put on the market for $2.85 million. When no offers rolled in, they dropped the price to $2.78 million.
Their home has six bedrooms, sits on two acres, and includes a wine cellar.
Their second home, in Wayne, was also purchased in 2007 for $725,000. The couple took out an additional $525,000 mortgage.
Chris and Jacqueline tried to get out from under their second home’s cost when they put it on the market in 2012 for $699,000. They later dropped the price to $599,000, before pulling the listing from the market in January. The foreclosure filings show the Lauritas have been in default on their second home since January 2012.
This means that, in 2007, the Lauritas were in debt over $2 million dollars on real estate alone. The first season of The Real Housewives of New Jersey was originally slated to premier in April 2008. Hmmm–could this be the motivating factor for purchasing a multi-million dollar home?
While this may come as a surprise to some, Jacqueline shared during filming that Nicholas’s autism treatments have set the family back financially.
This isn’t the first major financial blow for the couple. They faced serious financial issues when, back in 2012, one of Chris’ businesses filed bankruptcy and dealt with lawsuits. Not long after that, the NJ Division of Taxation filed a tax lien against Jacqueline to the tune of $338,337.05.
If there’s anything we know about Jacqueline, it’s that she’s a fighter, and doesn’t give up easily. We wish the family all the best.
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