'Real Housewives' Melissa and Joe Gorga Sell Summer Home to Ease Debts

The "Real Housewives of New Jersey" stars Joe and Melissa Gorga are reportedly selling their Toms River summer vacation home just one month after listing their Montville Township estate in a bid to help ease their ongoing financial woes.

Their 3-bedroom, 2-bathroom home, which was recently featured on the hit Bravo reality TV show, was custom built by Joe himself and has been listed at $520,000, according to Radar Online.com.

"Melissa and Joe are in way over their heads. Joe owes a lot of people money. They have the house on the market because they can't pay the mortgage now that the interest rate on it has exploded," a source close to the couple previously told Radar.

The Gorgas, who are known for mocking their co-stars Joe and Teresa Giudice's previous bankruptcy woes, are now facing their own money problems. They are accused of desperately trying to portray that they are rich on the show when in fact they are reportedly broke.

"They are portraying a life they that they really didn't live prior to the show. Melissa likes to drop name brands now and has become very arrogant. Joe loves the fact that Joe Giudice has financial issues, yet he's in the same boat!" the source said.

Melissa, 33, Joe and their children were reportedly living in a more modest 3-bedroom, 2-bathroom home said to be worth around $500,000 prior to signing up for the "Real Housewives" gig.

The reportedly quickly decided to move into the $3.8 million Montville Township mansion when filming began to fit in with their wealthy cast mates.

"Joe built the house as a spec home, hoping to find a buyer. As a builder, he got an interest free loan for a period of time in which he was to sell the house," the insider said.

"When his wife was hired for RHONJ, the Gorgas decided to abandon their home and move in to give themselves an appearance of wealth that they don't really have," the insider added. "Now, the interest-free period on the loan has expired, so they have to move."