Bankrupt 'New Jersey Housewife' Auctions Off Mansion Contents

Teresa Giudice, bankrupt New Jersey housewifeThe woman made famous by her temper-fueled table flip on the Bravo reality show "The Real Housewives of New Jersey" may have to come up with a new way to deal with her anger now that her tables and everything else in her 10,000-square-foot mansion have to be sold at auction, including her wedding ring.

Teresa Giudice's bankruptcy auction has been scheduled for Aug. 22 to relieve her and her husband, Joe, of nearly $11 million of debt, along with their home's furnishings. In June, the couple revealed that they were mired in obligations for millions of dollars of expenditures, despite an annual household income of $79,000.

Photos were released yesterday of the inventory that's up for grabs, and there has been a firestorm of commentary on the Internet ever since.
There is something for everyone at this auction, but don't plan on visiting the home on auction day just to check it out. The auction company, A.J. Wilner Auctions, is requiring a $300 refundable deposit to be allowed entry into the home, in hopes of weeding out the merely curious from the serious buyers.

For the couch potatoes among us, there are lots of sofas, six televisions, and a home theater system. For the narcissists, there are plenty of mirrors, some as large as 8 feet by 10 feet! For the outdoorsmen there are go-carts, an ATV, and a boat. If you know of a frat house looking for an upgrade, they have a Foosball table, a billiard table, and even a poker table. Are chandeliers your thing? You've got nine to choose from. Need new appliances? There are refrigerators, freezers, and a very expensive stove. Sadly, not even the children were spared in the bankruptcy auction. If children's furniture is what you need, they have pieces suitable for every age from infant to 8-year-old.

Bankruptcy is never pleasant, no matter who you are or what your situation is. However, there seems to be particular outrage over this as Guidice's opulent lifestyle has been well documented on "The Real Housewives of New Jersey." From the stack of $100 bills that she counted out for her furniture, to the indulgent birthday parties for her children, to her demands of diamonds from her husband, she was living a life of anything-but-reality in accumulating this much debt.

Hopefully, this family can remain intact and in love while learning what reality is really like, even without their wedding bands, which can be yours for the highest bid.

Barbara Green is The Design Diva and owner of Sensibly Chic Interior Design. Follow her on Twitter @thedesigndiva.

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.


Want to learn more about home buying and home finance? If so, you won't want to miss
our online discussion with industry experts,
"What Works Now: Smart Moves When Buying a Home,"
created by AOL
Real Estate in participation with Bank of America Home Loans.
Watch it now on AOL Real Estate.

Read Full Story

Find a home

Powered by Zillow