Foreclosure proceedings on the Ocean County beach home of "Real Housewives of New Jersey" stars Teresa and Giuseppe "Joe" Giudice have begun and the canal-front home is set to go to auction in late-May, according to the Ocean County Sheriff's Office.
The five bedroom, two bathroom home on Sylvia Ln in Manahawkin was listed last October for $315,000 -- that's $30,000 less than what's owed on the house, according to the sheriff's office.
The Giudices listed their beach home just weeks before they were sentenced to prison on conspiracy and bankruptcy fraud convictions. It was taken off the market on April 3, according to public records.
Auction on the home, purchased by the "Real Housewives" star and her husband for nearly $350,000 in 2005, will be held on May 19. The winning bidder must present 20-percent of the final bid price in cash, certified, cashier's or Treasurer's check.
Bidding starts at $1,000, said a representative from the sheriff's office.
Teresa Giudice began her 15-month prison sentence in early January. Joe Giudice will start serving his 41-month sentence after his wife's release.
