In heels of the Community Bank of Bergen County announcing that the Giudice’s have caught up on their mortgage payments on the Montville house and are no longer facing foreclosure we have more interesting news. According to Vicki Hyman of NJ.com, The IRS placed a $551K tax lien on the property the day before the bank took them out of foreclosure. By my calculations for the Giudices to have made up essentially a years worth of payments, that would have amounted to just under $130K without consideration of any late fees and fines. Teresa paid $200,000 toward their IRS debt before she went in. The new attorney says that they have been making regular payments to the $414,000 in restitution and are on track (whatever that means).
Allegedly. Wells Fargo has some how garnished 25% of Tre’s Bravo wages until they are paid off whatever they are owed.
Teresa’s plea deal states she must pay $200,000 back to the IRS prior to her sentencing date of July 8, 2014 as partial satisfaction of her debt. If you recall, Teresa was late on the $200K because $150K of that the amount of her final Bravo check of the season (including interviews on WWHL) and she borrowed the other $50K from family. She was also required to refile all of her taxes from 2000 through 2011 with all necessary documentation. She was required to make necessary payments for all affected tax years prior to her sentencing date. In the event she is unable to make such payments in full, she must set up a mutually agreed upon plan with the IRS.
In the forfeiture section of Joe’s plea, there is no agreement in the deal to pay the IRS any sum of money before his sentencing. He did have to refile/file taxes from 2000 -2011 and make those payments, or arrangements for a payment plan before sentencing.
So It looks to me like they owed $751K in total and Tre paid $200K leaving the $551K in money still owed the IRS. So the lien is on the house with maybe $300,00 in equity in now that they have recently paid $130k. Actually, I think there is less than $300K in there.
So assuming Tre is not able to make the $10,679 mortgage payments on that house, plus whatever the payments are on the rental house, plus the utilities on that monstrosity which must cost at least $5K a month, plus state and federal income taxes for the 2016 year, plus property taxes, plus the car payment for whatever she is going to drive, plus all of her hair, makeup and shoes, oh and the entire tribe of children, the eventually the foreclosure process will start again. There won’t be enough for the IRS, so then they will come after her hair weave I presume. Unless the house is sold for more than they owe the bank (which is more than the house is worth by about a million dollars) this IRS lien means nothing for now.
Meanwhile, please turn into the next season of RHONJ to watch her eat off of Gucci plates and give her daughters diamond necklaces and designer prom dresses.