All That Plastic Must Make Her Non-Stick

Now, what was I saying before I was so rudely interrupted? Oh yeah, the Bellinos. Their foreclosure auction has been pushed back. Again. And probably will be pushed back another time. Taxpayer dollars at work, my friend.

Loving the OC Register –

A foreclosure auction scheduled for Monday for the Newport Beach home of O.C. ‘Housewife’ Alexis Bellinoand her husband James is rolling to next month.

The new auction date has been set for Feb. 10.

But there’s a good chance it won’t take place then, either. As we’ve reported, James Bellino filed for Chapter 11 bankruptcy protection for the company, Global Marine Inc., that holds title to his house.

Bellino is president of Global Marine, a single-asset real estate corporation. A document filed in the bankruptcy case says “after any exempt property is excluded and administrative expenses paid, there will be no funds available to unsecured creditors.”

The bankruptcy filing says the estimated number of creditors is between 1 and 49, and the estimated assets of Global Marine, Inc. are between $1,000,001 and $10 million.

Bellino’s business is based at his 6-bedroom home in Newport Beach, which, in addition to being in default on a loan, is listed for sale .

The 6,400-square foot, 6-bedroom house is also on the market and being offered as a short sale — or for less than what is owed on the mortgage. But the lender, JPMorgan Chase, would have to agree.

The asking price is $3,395,000. The published bid at auction is listed at $4,677,635.

The couple has said they are still negotiating with the bank.

The listing on the home states: “Owner has over $6 Million into the property, reduced for quick sale,” and notes that the house is ”50′ from $35M waterfront sale previously owned by Nicolas Cage.”

The listing describes the home, on a 9,135-square foot double lot, as having “every high-end amenity imaginable.”

That includes: “High ceilings, gorgeous crown molding, pristine wood floors, and a grand staircase… a state-of-art kitchen, wine cellar, home theater, & large recreational area with pool table & bar …” There’s also a wrap-around balcony, rooftop view deck, a gym and a 6-car garage.

Realtor John Stanaland of Hom Real Estate Group has the listing.