Don’t be Tardy for the Auction

[Anonymous]

Anonymous wrote:

Anonymous wrote:How do they have a $1.65M mortgage for a house they paid $880k for 11 years ago? Did they go crazy with a HELOC?

They have done several cash out refis to pay for their lifestyle. The first foreclosure in November was for the second mortgage. This foreclosure is now for the first mortgage. They will lose the house this time unless they finally win big at the casinos.

They can do a new version of "Downsizing".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How do they have a $1.65M mortgage for a house they paid $880k for 11 years ago? Did they go crazy with a HELOC?

They have done several cash out refis to pay for their lifestyle. The first foreclosure in November was for the second mortgage. This foreclosure is now for the first mortgage. They will lose the house this time unless they finally win big at the casinos.

They can do a new version of "Downsizing".

I’m SURE they have been pitching shows like mad the last few months.

[Anonymous]

If it's not underwater, why didn't it go to short sale?

[Anonymous]

I just don't understand how they really thought they'd be able to keep up this lifestyle forever. They haven't had a show in years and I feel like her poor husband can't say no to her.

[Anonymous]

Here's what I don't understand: They owe 1.65 but the house is worth 2.5 or so - why let this go to foreclosure? Could they not just sell, take the 900k remainder and buy something else? Bonus that they would not trash their credit in the process. What am I missing?

[Anonymous]

Anonymous wrote:Here's what I don't understand: They owe 1.65 but the house is worth 2.5 or so - why let this go to foreclosure? Could they not just sell, take the 900k remainder and buy something else? Bonus that they would not trash their credit in the process. What am I missing?

This is supposedly the first mortgage going into foreclosure. They had a second that went into foreclosure last year. And supposedly have taken the rest of the equity out via HELOCS.

I haven’t read all the documents, but there are a bunch of Bravo-focused pages that have dug in on all they owe.

[Anonymous]

So sad for their kids. They need their parents to model financial responsibility or this cycle of reckless spending will continue with their children.

[Anonymous]

Just want to say that this thread is extremely well-titled.

[Anonymous]

All flash. No cash.

[Anonymous]

I wonder why at the time they purchased it, why didn’t they just pay for it all in cash up front??

They certainly had the money then.

Then once they had the deed, they could have updated it to their liking.

And they should have skipped the cosmetic surgery and instead put that money into their home renovations.

[Anonymous]

Anonymous wrote:I wonder why at the time they purchased it, why didn’t they just pay for it all in cash up front??

They certainly had the money then.

Then once they had the deed, they could have updated it to their liking.

And they should have skipped the cosmetic surgery and instead put that money into their home renovations.

I know that’s what you would have done but you’re not famous and this is why. Her fame has always been the fun of the train wreck.

[Anonymous]

Why do I feel like there is a Go Fund Me coming to help them keep their house?

[Anonymous]

Anonymous wrote:Why do I feel like there is a Go Fund Me coming to help them keep their house?

I think they are going to pop up renting in a new city, having filed for bankruptcy, and pretend some money manager caused the foreclosure.

[Anonymous]

Anonymous wrote:Just want to say that this thread is extremely well-titled.

OP here. Thank you, it just sort of came to me.

[Anonymous]

Anonymous wrote:I wonder why at the time they purchased it, why didn’t they just pay for it all in cash up front??

They certainly had the money then.

Then once they had the deed, they could have updated it to their liking.

And they should have skipped the cosmetic surgery and instead put that money into their home renovations.

I'll bet the idea never occurred to them to pay off a mortgage or any loan early.