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Real Housewives of Orange County – Another Home Bites The Dust!

Posted by ImaJustSaying on May 6, 2011

According to the EXCLUSIVE of  Peggy Tanous is the next Real housewives victim to fight the banks to keep her home.  I think this may be an epidemic of the worst kind while people spend so much money to film their lifestyles on Bravo while pretending to be swimming in the dough.  How many times have we seen Real Housewives husbands (mostly OC) shower their wives with jewels, fancy cars and extravagant furnishings just to impress the viewers then subsequently have their homes fall into foreclosure?

I would only imagine if the camera’s were not rolling, the spending habits would not be so extravagant.  Who is trying to out do who?  I wonder if Tamra is going to make fun of Peggy or show some sympathy?  Or is that just reserved for girls who she seethes venom for who has a better body?  Tsk Tsk Tsk OC.  Cant anyone learn from other cast members?

On the other hand, even Real Housewives can fall victim to where their homes had fallen so much in value from the original purchase price that it would not make sense to keep.  Details below.

Ok now that I spewed me shnark, it is a trying economical time for all and I do have sympathy for anyone who experiences this.  I mean the people who are working hard to avoid the bill collectors.  Not the ones who are spending hard in front of the cameras to make us think they are rich and carefree to impress.. um.. us?  Expensive dinner party anyone?

Former model Tanous is in a dogfight with three banks to keep her $1.3 million-home in Irvine, Calif., out of foreclosure, has learned.

While BAC Home Loans Servicing, U.S. Bank National and PNC Mortgage are trying to kick her and her family out and sell the house, Tanous has struck back with a lawsuit.

She claims the banks didn’t honor a loan modification agreement!

The 41-year-old Tanous and husband Micah, an internet entrepreneur, made timely payments for about two years after buying the place in 2006.

But, like millions of Americans, the Tanouses began experiencing financial trouble, according to her lawsuit. Their monthly checks on not just one, but two loans, because few and far between. They have one mortgage for $1 million, and a second for $312,540, according to records.

They also quit paying Orange County property taxes. The couple, however, negotiated a payment plan that they’re abiding by.

In her lawsuit, Tanous claims she made similar arrangements the banks. She hammered out a deal to pay interests only for 10 years – but was shocked in November when the banks still filed a foreclosure notice!

“(Tanous) is determined to keep the property,” the lawsuit reads. “It is her family’s home, and she does not want to lose the Property in a foreclosure sale.”

The stay-at-home mom of two little girls wants a judge to prevent the foreclosure sale.

Her home is in Irvine, California.

Last sold for $1,379,000 on 2/17/2006
Last assessed at $875,000 on 2009

Previous assessments:

  • $875,000 on 2009
  • $1,136,000 on 2008
  • $1,377,000 on 2007

9 Responses to “Real Housewives of Orange County – Another Home Bites The Dust!”

  1. dreemz said

    The logical grown-up home owner me sympathizes with the Tanous’s, it really sucks that their home has gone down in value. However, they are certainly old, enough to have learned to use restraint and judgement in spending their $$, it’s not like they are right out of high school. They knew what the payments + taxes were going to be when they bought the house. I haven’t heard anything about him losing employment, and they have gained a paycheck, RHoOC. So here they are, last episode, hired chef and dinner party. He’s dressing bragging about a Bentley & a watch..A WATCH, and she has recently had a boob job and some huge diamond earrings (gaudy). Now she’s crying about their “family home”? I have no respect for these people. And they wonder why people tear them apart on twitter & on the blogs! They don’t deserve anything nice.

  2. KurlyHairedB said

    Sell the Bentley and Hummer, buy 2 small economy cars instead. Save money on gas, insurance and pay some bills. These people have no clue as how to live in reduced economic states. Oh, and stop trying to live the lifestyle of the rich and famous when you are broke and a famewhore. ok, rant done.

  3. G-sus said

    Dreemz, yep I agree. All these individuals are just trying to get out of their homes or have their mortgages reduced and are willing to take the hit of having a foreclosure on their record. It’s a win-win for them. If they get foreclosed on, they just use the loopholes (ie. fake companies) to go buy one of the bargains on the market. If they tie up the banks for too long, the banks relent and reduce their mortgages.
    It needs to be easier for the banks to go into these situations and take the bentleys, watches, jewelry, furniture and money out of their banks unless they pay up.

    My house has lost value, luckily I can afford the mortgage, but their isn’t an ounce of me that wishes that I could sell it or walk away and buy a bigger house for the same or lower price.

  4. G-sus said

    *doesn’t wish* that is

  5. […] the rest here: Real Housewives of Orange County – Another Home Bites The Dust … Stop Snoring | Affordable SEO […]

  6. LWoo said

    @ 2: I second that!

  7. I think every person should cut his coat according to his cloth so that one must not suffer afterwords.

  8. @tweatcyn said

    I hate to say it but Jill Zarin said it best, Don’t spend more than you have. Period. The End. Oh, P.S. Nobody is going to buy a Hummer during these high gas times. It’s a behemoth gas guzzler.

  9. dreemz said

    G-Sus, you’re absolutely right! I hadn’t even thought about that angle…that’s what they’re doing! They’ll take that hit on their ‘credit name’ in order to either stay in the same house for less money or upgrade for less. Bingo! POS scammers. And all the while spending money with no respect for it, as though holding a fist full of one hundred dollar bills and lighting them on fire would be impressive to us. Like they think we’re a bunch of Homer Simpsons to impress out here in Tv land, easy to befoodle. lol

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