Luis Ruelas Takes Out $1 Million Loan On Teresa Giudice’s Mansion Amid Financial Crisis Rumors!
Luis Ruelas move to secure a $1 million loan against the mansion he co-owns with wife Teresa Giudice has sparked speculation about the couple’s financial situation.
Teresa Giudice, 52, and her husband Luis “Louie” Ruelas, 49, purchased their marital home in January 2021 for $3,350,000.
Court records exclusively obtained by the US Sun reveal that the couple did not secure a loan on the seven-bedroom, 10-bathroom mansion until March 2024.
The mortgage details indicate that Luis, as the “sole member,” of the LLC that bought the Montville property, took out a $1 million loan on March 25. The loan was issued by a Florida-based limited liability company, referred to as the “mortgagee.” However, the real estate documents do not specify the loan’s repayment term.
Luis’ financial troubles are expected to be a storyline in the current season of The Real Housewives of New Jersey. In the season 14 trailer, Teresa’s rival Margaret Josephs is heard accusing Luis of mismanaging funds, saying he “pissed her money away.”
Although the episode featuring this accusation has not yet aired, Teresa addressed the rumor on Tori Spelling’s podcast, misSPELLING, denying the claims.
“Margaret says my husband spends all my money. Like, b***h, you don’t even know what you’re talking about,” Teresa said.
“She’s not even in my house. She’s putting out this false narrative out there. And it’s like, she’s trying to make me her storyline.”
Louie, co-founder of Digital Media Solutions (DMS), recently helped launch Vinivia, an interactive live streaming app. Despite being described by some as “his company,” The U.S. Sun was informed that he is actually an independent contractor, providing services to the Los Angeles-based venture.
Luis has claimed to have “suffered economic injury,” including job loss and multiple missed business opportunities.
These claims are part of a $5 million lawsuit Luis filed against lawyer Kevin S. Johnson and his firm, Johnson Litigation Group. Court documents obtained by The U.S. Sun allege that Johnson fabricated emails “under fake names/personas” to “damage Ruelas‘ chances in the court of law, stir controversy, and create reality TV content.”
Luis claims his reputation has been “damaged beyond repair” and that potential clients have been influenced by the damaging material online. The lawsuit, filed in February 2024, is ongoing in New York.
As of 2023, Celebrity Net Worth estimated Teresa’s fortune at $500,000. The businessman is reportedly worth $2 million. He and Teresa tied the knot on August 6, 2023, in an extravagant ceremony held at the Park Chateau Estate & Gardens in East Brunswick, New Jersey, attended by over 200 guests.
The Real Housewives of New Jersey airs new episodes every Sunday, at 8 p.m. ET, on Bravo.
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Nancy Zhāng is an Entertainment Blogger for All About The Tea. Nancy covers hot topics, recaps and celeb news. She loves to multi-task as a writer and a private chef. She received a B.S. in Mass Communications from LSU. Nancy’s married and the proud mom of 2 German Shepherds.
