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Rep: Melissa, Joe Gorga Don't Owe $2.25 Million Mortgage on $520,000 House

USMagazine, Thursday, June 21, 2012, 12:40pm (PDT)
  • Bad finances on display for Joe and Melissa Gorga? Fuhgeddaboutit!

    On Thursday, a story in the Daily Mail claimed that the "Real Housewives of New Jersey" couple were in dire financial straits related to their summer home in Toms River, N.J. Although the couple are selling the 5,000-square-foot waterfront pad for $520,000, the British paper, citing documents from a local bank, claims that the reality couple now owe a whopping $2.25 million mortgage after refinancing the property.

    PHOTOS: Biggest Housewives wars ever!

    "The Gorgas are not in financial trouble," the Gorgas' rep explains to Us Weekly exclusively. "The documents in question represent the construction loan that the Gorgas took to build their main home, which used their shore house as collateral. Once the Gorgas secured a permanent mortgage, which is a matter of public record, that construction loan was null and void. The bank is currently correcting the paperwork."

    Regardless, Melissa and Joe -- their prickly relationship with his sister Teresa Giudice provides weekly drama on the Bravo smash -- are certainly busy on the real estate front lately. In addition to the Toms River home, the couple have placed their $3.8 million Montville Township, N.J., mansion on the market as well.

    VIDEO: Teresa and Joe's vicious battle

    Hoping to bring their family, including kids Joey, 2, Gino, 4 and Antonia, 6, back to Franklin Lakes, N.J. when their main home sells, Melissa and Joe aren't ruling out a move to the West Coast so that "Rockstar" singer Melissa can work on her vocal career.

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    "It's definitely not a no," Melissa told Celebuzz, adding that the family would not make a permanent move, but rather remain bicoastal.

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