How RHOC's Alexis Bellino Lost Her Money

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Back when Alexis and Jim Bellino were still married, they bought a home in Newport Beach, California in 2007, per Radar Online. With renovations, they spent a total of $6 million on the property. Unfortunately, they ended up defaulting on their loan worth $4.5 million, and in the end, they were in debt of $4,677,635.01, including fines for late payments. The home ended up going into foreclosure and so the Bellinos sought out a new mortgage through Chase Bank, according to The Orange County Register. Unfortunately, the bank ended up changing the deal of the mortgage. They tried selling their home, initially listing it for $4,995,000 but had to drop the price to $3,695,000 a few weeks later.

Alexis and Jim issued a statement after they changed their loan. “To set the record straight, we have not filed bankruptcy,” they wrote. “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 the title to the home to file Chapter 11 re-organization bankruptcy protection for the purpose of protecting this asset while we continue to work toward resolution.” The couple added that this is routine practice.