A home belonging to the newest cast member of “The Real Housewives of Orange County” narrowly averted foreclosure Wednesday after she and her husband got a last-minute loan modification from their lender, Register reporter Richard Chang reported Friday.
Alexis Bellino and her husband, Jim, defaulted on more than $80,000 in debt payments on the $4.56 million home they have owned for two years, according to documents Chang obtained.
“Chase Bank has been great to work with on my modification,” Jim Bellino told Chang today. “The trustee sale has been canceled, and the modification has been agreed upon.”
Alexis Bellino is described on Bravo’s website as “a 32-year-old spicy blond” and stay-at-home mom. The site describes Jim Bellino, 47, as a self-made entrepreneur. Alexis and Jim have three children – 4-year-old James and twins Melania and Mackenna.
Although the Bravo site says that the Bellinos live in Newport Coast, the address and ZIP code for the home match a Bayshore community home located two blocks from Newport Harbor — and just one block from the home that actor Nicolas Cage sold for $35 million in 2008, the highest price ever paid for an Orange County residence.
County records show that the Bellinos bought the home for $4.56 million in August 2007 — a month after Orange County’s median home price hit an all time high, then plummeted 42%. Zillow.com estimates that the home is now worth just under $4 million.
According to Redfin, the house has five bedrooms, five bathrooms and nearly 4,200 square feet. The home, built in 1951, sits on a 9,135-square-foot lot, according to Redfin.
The couple put the home up for sale in May 2008, according to Redfin, and had it on and off the market until October. A notice of default filed in April said that the couple stopped making mortgage payments in January and that no payments had been made since. Jim Bellino told Chang that his family intends to stay in the home for an extended period of time.