EXCLUSIVE: OC Housewife Writes Letter To Pals: 'We're Not Bankrupt'
Posted on Dec 14, 2010 @ 02:05PM
Cash strapped Real Housewives of Orange County star Alexis Bellino and her husband have sent a letter to their closest friends and business associates in which the pair deny they’re bankrupt.
RadarOnline.com was sent the letter, which you can read in full here.
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“To set the record straight, we have not filed bankruptcy,” Alexis and Jim said, in their six paragraph letter which was emailed to pals on Tuesday.
“I have been buying and selling residential and commercial properties for more than two decades. I have been working since I was 13 years old, and have made sure that our investments are diversified – we own multiple companies, properties, securities and other assets.
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“Thankfully, our financial future is secure. The bank’s actions, however, forced the entity that holds title to the home to file Chapter 11 re-organization bankruptcy protection for the purpose of protecting this asset while we continue to work towards resolution. This is commonly done.”
Read the entire letter here:
Bellinos Bankrupt – NOT!
The schoolyard bully mentality of today’s banks has destroyed the hopes and dreams of millions of American homeowners who quite understandably feel they have no power to do battle with these financial behemoths. We certainly understand that we are just one family doing battle with one bank over one home, but we refuse to be scared into submission.
As we shared with you in August of this year, we had reached an agreement with JP Morgan Chase for a loan modification of our home. After we had agreed, the bank changed the terms, demanding twice as much up front cash, and increasing the interest rate (has this happened to any of you?). All we expect from the bank is that they live up to the original deal they made with us.
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Despite the bank’s conduct in this matter, we remain willing to negotiate in good faith in an effort to reach a mutually agreeable resolution. If forced to do so, however, we will not hesitate to pursue any and all legal recourse available to us under the law, and we will continue to follow the advice of our real estate attorney in this matter. JP Morgan Chase may be the Goliath in this scenario, but we will not sit by quietly and allow this financial institution to subject us to these unfair business practices without a fight.
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Not surprisingly, the mass media got the story wrong. Like most families, we are just trying to live the American dream, but that isn’t sensational enough. As we all know, the media loves bad news, and will create it when they can’t find it. For example, “Housewife Hubby Files For Bankruptcy Protection” makes for a great headline, even if it isn’t true. Imagine if your hometown newspaper (like the Orange County Register) said you were going personally bankrupt when you weren’t. Our attorney has formally demanded that the Orange County Register publish a retraction and correction.
To set the record straight, we have not filed bankruptcy. I have been buying and selling residential and commercial properties for more than two decades. I have been working since I was 13 years old, and have made sure that our investments are diversified – we own multiple companies, properties, securities and other assets. Thankfully, our financial future is secure. The bank’s actions, however, forced the entity that holds title to the home to file Chapter 11 re-organization bankruptcy protection for the purpose of protecting this asset while we continue to work towards resolution. This is commonly done.
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Our deepest thanks go out to so many of you who have expressed your concern for us. We cannot tell you how touched we have been by the outpouring of love and support during this challenging and frustrating experience. Please know that we are all healthy, happy and very well. At this time of year, we are reminded of how very, very blessed we truly are. We wish you and your families abundant love and joy during this holiday season.
Jim and Alexis
The Bellinos join a long list of Housewives -- including Lynne Curtin, Tamra Barney and Jeana Keough – who got caught up in real estate nightmares when the bubble burst. NJ Housewife Teresa Giudice and her husband also filed bankruptcy last year.
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The Daily Juice
when you overly try to explain yourself - and worse - ASSuming you are fooling normal minded people - proves that much more - you are not financially secure! it's okay to be stupd but don't be idiots!
Posted Wed, 03/23/2011 - 8:34pm
What's wrong w/this picture other than his POINTLESS hairdo and her lips? If they own all that other crap, why wouldn't they sell it to save their home and their precious reputation that they think has everyone fooled.
Posted Wed, 12/15/2010 - 1:43am
Damn, that dude is fugly!!! That stupid-a$$ goatee and fauxhawk only accentuate his ginormous dome.
Posted Tue, 12/14/2010 - 7:59pm
He has to have the goatee so you can see where his chin stops and his neck begins.
Posted Wed, 12/15/2010 - 10:46am
Exactly!! The old Nic Cage trick....
Posted Wed, 12/15/2010 - 8:07pm
It's amazing how you want to throw millions of us Americans into YOUR predicament? NOT. We pay our mortgages, spend what we have and don't sell loans on craigslist.
Posted Tue, 12/14/2010 - 7:37pm
Another note...WHO would send a letter like that to your friends outlining such personal financial information? They are SO caught up in "looking" wealthy. It's a disgrace.
Posted Tue, 12/14/2010 - 7:20pm
He put the home loan under his business name and IS filing bankruptcy...business bankruptcy. It's not PERSONAL bankruptcy. You have to be late on your mortgage payments to negotiate with the bank, so he doesn't have as much $$ as he says.
Posted Tue, 12/14/2010 - 7:17pm
"All we expect from the bank is that they live up to the original deal they made with us." And all the bank expected was for you to make payments azzhats. You're so financially sound, THEN MAKE YOUR HOUSE PAYMENTS PER THE LOAN AGREEMENT!!!
Posted Tue, 12/14/2010 - 7:13pm
If their lips are moving...they're lying. Of course, it's kind of hard to tell when her lips are actually moving cause they're so stiff from botox.
Posted Tue, 12/14/2010 - 6:55pm