Reality star Victoria Gotti is facing foreclosure on her lavish Long Island home. According to New York Post, Victoria Gotti owes $650,000 to JP Morgan Chase for her $4.2 million home and has fallen two years behind in loan payments.
Victoria Gotti had inherited the mansion (as well as the mortgage debt) after her 2003 divorce from ex-husband Carmine Agnello. She claims that Carmine Agnello had secretly taken out an $850,000 loan in 1997 and left her holding the bag. Since assuming ownership of the house, Victoria Gotti has struggled to hang onto it. In 2005, after defaulting on her loan, JP Morgan Chase planned to auction the house. But she convinced the bank to work out a payment plan of $200,000 by February 2006. Now a Nassau County referee will determine how much she owes and how to proceed selling the property. The mansion is currently listed for $3.2 million.
Victoria Gotti: Life and Career
Victoria Gotti is the daughter of Gambino crime family Mafia boss John Gotti. From 1984-2003, she was married to Carmine Agnello who was later convicted of racketeering and arson and sentenced to nine years in prison.
Victoria Gotti has worked as a columnist at New York Post and Star and is the author of several books. From 2004-2005, she was the star of the short-lived reality series Growing Up Gotti, featuring the lavish house which is now under foreclosure. Critics argued that the show glorified organized crime by showcasing a lavish lifestyle that was brought about by her father’s Mafia escapades.
Victoria Gotti Faces Foreclosure: Other Divorcees
While Victoria Gotti’s father was able to provide her a luxurious lifestyle, it was the divorce settlement that gave Victoria Gotti her Long Island mansion. Victoria Gotti is not the only high-profile divorcee to struggle to maintain her lifestyle. Swedish Countess Marie Douglas David’s divorce from CEO husband George awarded her a post-nuptial agreement of $43 million. Yet during the proceedings, she contested the settlement, arguing that it wouldn’t be enough to pay for her $53,000 per week living expenses.
When listing her expenses, Marie Douglas David cited (among others) $8,000 in travel, $4,500 in clothing, and $600 in flowers. When compared to $600 per week spending on flowers, Victoria Gotti’s struggle to hang onto her $4.2 million home suddenly does not seem so frivolous.
Sources:
Victoria Gotti Losing TV Castle to Foreclosure, Selim Algar and Kati Cornell, New York Post
Marie Douglas David Divorces Husband George, Tina Molly Lang, Associated Content
