“The Real Housewives of New Jersey” couple will soon be moving to what they call “a better zip code.” However, a source close to the couple says that there’s no way they could afford to buy such an exclusive property and they will actually be renting.
“There’s always been a huge rivalry between Melissa and her sister-in-law Teresa Giudice, so this season is no different, and in an attempt to one-up her, Melissa and Joe will be moving to a better zip code,” the insider revealed.
“But the reality is that they will just be renting a home in an ‘elite’ neighborhood to cover up their not-so-ideal financial situation.”
Ironically, because their currently property is what played a role in getting them cast on the hit Bravo show originally, they face getting kicked out for defaulting on repayments. They are allegedly borrowing money from anywhere they can in order to maintain their celebrity lifestyle.
In the new season of “The Real Housewives of New Jersey,” we will see Melissa and Joe attempt various new business ventures such a workout DVD and books. Apparently it’s all a desperate attempt to get themselves out of heavy debt.
Last year, public property records showed the couple took out a $2,250,000 mortgage on their home on November 16, 2007 with Sterling Bank, plus interest. They originally purchased the home for only $450,000 in 2005 on which they took out an initial mortgage of $360,000 and a secondary mortgage of $45,000.
Melissa and Joe have been accused of faking their luxury lifestyle just for the show. Fair criticism?