Even After Selling His New Jersey Home for $2 Million, Joe Giudice Benefited Financially.
New information has surfaced around four months after Joe and Teresa Giudice’s longstanding family home was formally placed on the market for sale and sold.
After a total of 19 months on the market, the Towaco, New Jersey home with six bedrooms and 5.5 bathrooms finally sold for $2 million in May, following a couple price reductions, a contract fallout, and a total of 19 months on the market.
But it appears that all of the money went to Teresa, and her ex-husband, Joe, was left with nothing, as reported by The Post. Teresa appears to have kept everything.
The seller will not get any funds from the sale in the form of a net profit. According to property records obtained by The Post, “net proceeds from the sale” refers to the “net amount payable to the seller on the settlement sheet.” Joe, who along with Teresa is listed as one of the sellers, is named in the documents as having “net proceeds from the sale.”
According to the same property filing, Teresa would be entitled to receive the full two million dollars.
An informant claims that Teresa received the earnings as part of the initial divorce settlement that she and Joe reached in October 2020, after which Joe was deported to Italy from the United States.
The insider went on to say that despite the fact that the star of “Real Housewives of New Jersey” made the whole sum from the sale, she is practically left with nothing as a result because her increasing debt from the former couple’s earlier fraud case has left her with nothing as well.
According to the information provided by the source, “at the end of the day, neither one of them received any earnings from the house.” “Teresa didn’t get money. Joe didn’t get money.”
According to another statement made by the source, “they had a mound of debt, which they discussed in the divorce.”
According to the documents, Joe, now 52 years old, purchased the property in 2002 for the price of $530,000. Teresa wasn’t included on the deed until much later.
Due to the fact that the now-former couple owed the bank $1.7 million in connection to their fraud case, which resulted in Teresa being sentenced to 15 months in federal prison and Joe being sentenced to 41 months in prison, the couple’s home was threatened with foreclosure in the year 2015.
In the meantime, Teresa was explaining how it was difficult for her to let go of the house where she had raised her children for the past 20 years, but that it was something that she had to do.
During the month of March, she admitted on camera during a confessional that “it’s hard for me to sell the house.” “[My now-ex-husband] Joe and I worked together to build the house, and it was there that we brought up our four girls.”
She continued by saying, “I am ready for a fresh start.” “I’m hoping to make a clean slate of everything.”