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Teresa and Joe Giudice: Living a lie?

Teresa Giudice, 41,and her husband Giuseppe, 43 are facing jail time. Credit: Reuters Teresa Giudice, 41,and her husband Giuseppe, 43 are facing jail time. Credit: Reuters

Reality show couple Teresa and Joe Giudice have been living large, but according to documents obtained by TMZ, they don't have too much to their names.

Apparently they have almost zero equity in the three homes they own, one worth $1.7 million. Their three lavish rides — a Maserati, Escalade and a Ford 350, also have no equity in them. Neither do their Doo boat, Kawasaki four-wheeler and go carts.

The couple, who could face serious prison time for fraud, don't even have enough cash to pay their creditors. TMZ is saying one bank won't get the more than $5 million owed to them.

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The bankruptcy trustee also said the Giudices' dogs aren't valued at $600 — what the couple listed them as. Unless they have a gold tooth in their mouths, the pups aren't equity.

It makes us think … what other reality show stars don't live true to their show's premise? Are the Rich Kids of Beverly Hills really rich? Are the Gypsy Sisters really gypsies? Is the Bachelor real? Do we even have to ask that last question?

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