Splash NewsInvestment properties don't always pay off in the end.
Teresa Giudice purchased a house in Lincoln Park, N.J., for a reported $170,000 back in 2005. According to NJ.Com and Trulia, the Real Housewives of New Jersey star and husband Joe Giudice rented it out to tenants and listed it for sale at $179,000 just before their October 2014 sentencing. When it didn't sell, lenders initiated foreclosure proceedings, and on Wednesday, the 3-bedroom, 1-bath home was sold back to its lender for the minimum $100 at a foreclosure auction.
In August 2015, the Giudices' Manahawkin, N.J., beach house was also bought back by its lender at a foreclosure action for the minimum $100 bid. According to NJ..com, family's Montville, N.J., mansion went into foreclosure in April 2015, but the couple was able to get their mortgage reinstated and settle the foreclosure in October of the same year.
A lawyer for the Real Housewives of New Jersey stars previously told NJ.com Joe and Teresa they were "eliminating excess" and "focusing on doing more with less." When E! News reached out to the Giudices' attorney for comment on Friday, they declined to provide any comment.
Joe is currently serving the 41-month sentence behind bars he was given after being convicted of bankruptcy fraud and failure to file income tax returns. Teresa was released from her 14-month prison sentence in December.
—Lindsay Good & Beth Sobol