The Alexis Bellino Foreclosure

Perhaps foreclosure may have indeed become a trend. Foreclosure listings now include the rich and perhaps not so famous – as in the Alexis Bellino foreclosure case. Just because someone is a hotshot television figure does not mean he or she isn’t likely to get his or her home foreclosed. Indeed, there is no escaping the claws of foreclosure.The newest addition to the list is Peggy Tanous, who also happens to be a Real Housewives of Orange County star just like Alexis Bellino.

The Alexis Bellino foreclosure case is one of the many cases that involved celebrities and their million dollar properties

Photo Courtesy of karen.j.ybanez via Flickr

Property records show that Alexis Bellino and husband Jim bought the 6,400 square foot house in August of 2007 on a whopping $4,560,000 mortgage. Just 8 short months after, the Bellinos put up the house for sale. Obviously, no one took on the rather exceedingly expensive price of $7,995,000, and by October of 2009, the posh property was listed and delisted five times. In November 2010, the Bellinos once again put up their house on the market, with an asking price of $4,995,000 this time. Five days later, the price tag plummeted by a shocking one million dollars, another three hundred thousand twenty days after, and again, another three hundred thousand a few days after; bringing the current asking price to $3,395,000. Listing information shows the Bellino-owned residence is now offered as a short sale.

According to records, one in 192 housing units are lost to foreclosure in California resulting to over 69,000 foreclosed properties in California. Orange County, located in California, is a collection of lovely communities wherein you will find all kinds of properties such as beach front properties, luxury estates, and well maintained neighborhoods with single family homes.

These fantastic homes on the bank foreclosures list means great opportunity for the smart investor, of course. Still, homeowners can learn a huge lesson from the Bellinos. Upscale foreclosures are a growing trend, and the wealthy are not insulated from foreclosures, too. Most often, people, the rich, thought that all problems can be solved by more money. The truth is, anyone at any income level can experience financial hardship and being famous is also not a guarantee of financial stability either.

The Alexis Bellino foreclosure does give the average American a time to contemplate about why many people, including celebrities, are part of the many foreclosure cases around the country. Prudence and financial planning is still the key.

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