Teresa Giudice to Auction Off N.J. Mansion, Other Expensive Crap She Really Couldn't Afford

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Bravo's Real Housewives franchise is a huge hit because TV viewers love a glimpse into the lives of the rich and obnoxious. Well, one star is only the latter.

New Jersey housewives will soon have the chance to own part of reality TV history as Teresa Giudice and her husband, Joe, are set to auction off their stuff.

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Their 16-room, 10,000-square-foot Towaco, N.J., mansion's contents will be sold in a bankruptcy auction to take place there August 22, according to reports.

According to court documents, the couple owe $10.85 million to creditors - and that doesn't even take into account the newly-filed Danielle Staub lawsuit.

Teresa Giudice recently said of her fiscal woes: "When people fall, the way to success is to get up and learn from our mistakes. We are in that process."

We'd feel bad for Teresa and Joe Giudice, but we really don't. Unlike millions of Americans feeling pain from the recession, they lived way beyond their means.

Among the items up for bid will be a grand piano, two LCD TVs, a decorative urn, an antique pool table, a suit of armor, four chandeliers, a jet boat, a snowplow, framed paintings and numerous pieces of furniture, according to the auction company.

All stuff they couldn't actually pay for but purchased anyway, because these are the kinds of values fostered by the Housewives programs, and arguably society in general. Nice work. The reality couple reportedly filed for bankruptcy last year.

"Due to the economy, most of my husband's real estate ventures failed despite his hard work and effort," Teresa said, ignoring their shady financial practices.

"As a result, we looked to the Bankruptcy Court for a fresh start.”

Another fresh start idea: Savings accounts. Just saying.

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Yes Iris, everything is fake just like her. It's disgusting how she spends money and then files for bankruptcy. I hope the Court sees what kind of scum these people are and deny their bankruptcy.

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The items they listed for auction really have no value at all.
Everything written is "faux" marble regarding their furniture.
Which means FAKE. Kate Gosslein, reporters and magazines wrote, earned $500,000.
The longer you get to stay on, the more money one makes. BUT don't they have to pay taxes on that money?

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Yea I think I would be cool too! Just thought it was so ironic that she thought it was so beneath her and now she might have to consider someother place than her 5 million dollar home. Karma's a bitch and so is she!!

Finstoneschewableheroin

@Monkey
Do you have any idea how cool it is to live above an independant restaurant? I lived above a Cuban place at my old place in Brooklyn and it was the best. I now live next to a Polish daycare. Meh. Lucky for me I don't mind kids. Anyway, this whorebag doesn't know what she's missing.

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Remember when Joe was showing her the pizzeria and was joking about the appartments upstairs that it was going to be there new home and she was like I would never live here! Maybe you do now...

Finstoneschewableheroin

Oh god, she looks like Admiral Ackbar. And Joe? He looks like Corky from Life Goes On. No wait, that's an insult to Chris Burke who is pretty cool. He just looks like a schmuck.

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She used to be a cast member I liked watching but once the word was out about her over spending she makes me sick. They have no clue what they are doing wrong and IMO don't care. She should auction off most of her awful wardrobe, to include her kids clothes too...to raise money. If I was a betting person I'd say they won't ever learn. Shame, she just might have to move to a house someone else once lived in.

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