The Real Housewives of Orange County‘s Jim and Alexis Bellino have claimed all along that reports of their filing for bankruptcy and losing a $5 million home to foreclosure have been greatly exaggerated, and judging from the fact that the home is no longer scheduled for auction, it appears they were right!
According to The Orange County Register the auction has been canceled and the Newport Beach home is being offered as a short sale for $3.395 million. Here is the official statement from the Bellino’s lawyer, Michael York:
“Some media reports have speculated that Mr. and Mrs. Bellino are having financial problems, which have resulted in issues between them and Chase. The speculation is inaccurate. Mr. and Mrs. Bellino do not have and have never had financial problems, and the issues between them and Chase are due to good business decisions that Mr. and Mrs. Bellino have made, not financial problems.
“The property was never going to be foreclosed against. Mr. and Mrs. Bellino have been negotiating with Chase for months, an agreement with Chase has been reached, and the issues between them and Chase have been resolved.”
As far as the house itself, I tracked down the listing and it is something to behold! Here are some photos of the 2672 Circle Dr. property:
In a previous OC Register article they summed up the home’s amenities this way:
The listing on the home states: “Owner has over $6 Million into the property, reduced for quick sale,” and notes that the house is ”50′ from $35M waterfront sale previously owned by Nicolas Cage.”
The house, on a 9,135-square foot double lot, is described as having “every high-end amenity imaginable.”Features include: “High ceilings, gorgeous crown molding, pristine wood floors, and a grand staircase… a state-of-art kitchen, wine cellar, home theater, & large recreational area with pool table & bar …” There’s also a wrap-around balcony, rooftop view deck, a gym and a 6-car garage.
It’s beginning to sound as though the Bellino’s took a hit financially because of the plummeting real estate market, but that the bankruptcy/foreclosure stuff was all a lot of craft financial maneuvering to lessen the damages.
Top Photo: FayesVision/WENN.com