Rising Tide of High-End Foreclosures

Jim Bellino, a real estate investor better known for his role on "The Real Housewives of Orange County," wants to make one thing clear: Defaulting on the $4.6 million loan for his family's stately home in Newport Beach, Calif., made perfect sense. "Here's the assumption everybody makes when you're getting your loan modified -- you're destitute and you're bankrupt," he said. "That's not the case. It can strictly be a business decision, especially when you're talking about several million...Full Story
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