Alexis Bellino, Real Housewife of OC, Latest From Bravo Franchise to Face Real Estate Woes

Is there a theme going on with Bravo's

Real Housewives

? Because Teresa Guidice isn't the only Housewife with real estate troubles. Alexis Bellino, one of

The Real Housewives of Orange County

shown poolside at the Balboa Bay Club with one of her kids at right, and her husband Jim are the newest victims of the hungry real estate monster.

Their 6 bedroom, 6,400-square-foot Newport Beach mansion is being offered up in a short sale, meaning the asking price is less than what is owed on the mortgage.

Alexis Bellino

The price was reduced to $3,395,000 on Tuesday from the previous price of $4,995,000. The home sits on a 9,135-square-foot double lot, 50 feet away from a $35 million waterfront home previously owned by Nicolas Cage.

The listing boasts that the home, "has been completely remodeled with every high-end amenity imaginable." Features include gorgeous crown molding, pristine wood floors, and an elegant grand staircase. The spacious home also makes room for a gym, wine cellar, home theater, and recreation area with a pool table and bar.

The home was bound for a foreclosure auction on Friday, but the Bellinos' attorney, Michael York, reportedly said Tuesday the couple is working with the bank. He released this statement from the Bellinos:

"We have been communicating with the bank regarding loan modification options for several months. The bank has changed its offer, and the market has further declined since August, but we are continuing to work with the bank in an effort to reach a mutually agreeable resolution. The foreclosure sale will once again be canceled. In the meantime, as always, we will continue to follow the advice of our legal counsel with respect to this matter."


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