Real Housewives of Orange County

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! Keep reading for their lawyer’s official statement as well as photos of the gorgeous Newport Beach property, currently available as a short sale for $3.395 million.

Real Housewives of Orange County cast member Alexis Bellino and her husband Jim Bellino have issued an official statement clarifying bankruptcy rumors that began last week after it was revealed one of their companies had filed for Chapter 11. In the statement the Bellinos clarify that it wasn’t personal bankruptcy and that their financial situation is stable, the move was simply a way to buy time for renegotiating the mortgage on their house and prevent foreclosure procedures from moving forward. Keep reading for the full statement (and a knockout photo of Alexis!).

Jim and Alexis Bellino are the latest Real Housewives couple to financially crumple under the weight of living above their means to keep up appearances. On the heels of news that the pair are losing their house to foreclosure, Jim’s real estate company Global Marine, Inc has filed for bankruptcy protection, according to the OC…