Easy come, easy go.

The big spending Teresa Giudice, who stars on “The Real Housewives of New Jersey” reality show, will be forced to auction off many of her worldly possessions as part of a bankruptcy filing, according to People.com.

Televisions, sofas, chairs, chandeliers, as well as a boat and jet ski — even a suit of armor — are scheduled to hit the block at their Towaco, N.J., mansion on Aug., 22, 2010, at 12 p.m. ET. To check out a complete list of available items click here.

Giudice, who was looking for a “fresh start” after claiming a downturn in the economy crippled the family finances, is currently appealing the bankruptcy auction.

From her attorney, Jim Kridel:

“Obviously we have objections to what they’re trying to do…. I don’t think Teresa is happy seeing all her belongings displayed on the Internet. Clearly they are under the microscope because they are famous.”

If the auction goes off as planned, interested bidders are required to present a $300 refundable deposit at the time of registration. In addition to their possessions, the six-bedroom, five-bathroom “rococo chateau” is for sale for a little less than $4 million.

“People aren’t angular. So why should they live in rectangles?”

– Charles Deaton, architect

It was Deaton’s unique three-story mountain home design, which “curves unpredictably,” that likely attracted acclaimed director, Woody Allen, to use it as the scene for one of his most successful feature films, “Sleeper,” in 1973.

Today, the five-bedroom, five-bathroom piece of architectural art — one that also boasts a four-car garage and media room, among other cushy amenities — is in jeopardy of being repossessed and sold to the highest bidder at a foreclosure auction.

Denver Business Journal (the home is perched in the Genesee Mountains just outside “Mile High City”) reports that the current owner, Michael Dunahay, has defaulted on a $2.77 million mortgage loan.  Dunahay, a Denver businessman, purchased the iconic 7,000 sq. ft. home for $3.43 million in 2006.

It’s not the first time this has happened — the lender initiated foreclosure proceedings in early 2009, “but withdrew it” last May. Apparently, whatever problems affected the mortgage a year ago were never completely resolved.

And if Dunahay and his lender can’t hammer out a deal, the “Sleeper” house will soon be put to bed up on the block.

Stay tuned.

David Olsen spawned perhaps the richest twin girls, Mary-Kate and Ashley, on the planet 24 years ago.

Today, however, he’s filed for bankruptcy and is facing foreclosure on a $2.1 million home located in Tarzana, Calif., according to PopCrunch.com.

His millionaire daughters, who got off to their famous starts as baby actresses on the hit television series “Full House” back in the late 1980s, have amassed a massive merchandising empire through Dualstar Entertainment Group (founded when they were just six years old) over the years.

In fact, Forbes lists the dynamic duo as eleventh on its list of richest women, worth and estimated $100 million, selling everything from videos, books, dolls, cosmetics and clothes.

The report quotes an “insider” (consider the source) that recent “changes” in the relationship between father and daughters could be behind their decision to not lend a hand right away.

Here’s a snip:

“Something is wrong now. Over the years, The Olsens were all close but along the way maybe something has changed. He’s behind on mortgage payments and won’t be able to stop the auction unless he gets his hands on $2 million. Hopefully, Mary-Kate and Ashley will help before it’s too late.”

If the twins don’t come to their father’s financial rescue, David, his new wife and two children, could lose the home on July 9, 2010.

It’s hard to believe, but today (June 25, 2010) marks the first anniversary of the death of mega musical icon, Michael Jackson.

The self-proclaimed “King of Pop” made huge headlines for about 45 years, as a child in the “Jackson 5″ in the early 1960s right up until his untimely and sudden demise in 2009.

He was a worldwide sensation. And he still is, perhaps generating more interest now more than ever.

So we decided to take a look back, one year later, on what is far and away the most talked about foreclosure ever, which included Jackson’s sprawling 2,676-acre Neverland Ranch in Los Olivos, Calif., in ritzy Santa Barbara County.

Before his death, Jackson was in serious financial straits (all things being relative, of course) and could not afford the more than $10 million annual price tag that came with maintaining his over-the-top playground.

It was truly the epitome of excess, featuring “two railway lines, two helicopter pads, its own fire department, a zoo and a plethora of amusement-style rides,” according to MSN Money.

He wound up defaulting on a $24.5 million loan on Neverland in 2008.

The good news is that he avoided foreclosure by selling Neverland to a real estate investment company, Colony Capital, that entered into a joint venture with Jackson to renovate and re-sell it.

That was then, this is now. And to date, nothing has been done. So what’s next for Neverland?

USA Today explores whether or not Jackson fans — and the general public — can expect it to be turned into a Graceland-like museum someday soon.

Here’s a snip:

Read the rest of this entry »

Ron Artest can thank his real estate agent, not his psychiatrist, for pulling off this latest feat.

“Tru Warrior” recently closed a deal on his $1.85 million Sacramento, Calif.,-area home, unloading it to a local businessman, Paul J. Bianchi, for $1 million in a short sale transaction.

With Artest now playing small forward for the Los Angeles Lakers, the home (to check out a pic click here), which he purchased in 2006 while playing for the Kings of the National Basketball Association (NBA), was no longer necessary.

But with the collapse of the housing market, it also became nearly impossible to re-sell with such a large price tag.

So the lender accepted a lower offer on what it was owed and, more than likely, will forgive the nearly half-million dollar difference.

That’s good news for Artest, who agreed to what many experts believe to be a low three-year (with an option for five) $18 million contract (full value is about $34 million if he opts for the extension) with the Lakers just last year with the hopes of winning a world title.

Mission accomplished — Artest was a major contributor in the Lakers second straight NBA championship in 2010.

His electric performance in the pivotal Game 7 against the Boston Celtics helped lead the team to victory.  It was his first time he hoisted the trophy in his enigmatic and volatile 11-year professional basketball career.