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Jon and Kate -- Overextended

10/5/2009 4:08 PM PDT BY TMZ STAFF

We're told Jon & Kate Gosselin aren't living hand to mouth, but the $200,000 account that Jon raided was the only real source of living income.

Kate Gosselin, Jon Gosselin

There's a report out that the couple is saddled with a $720,000 mortgage on their $1.12 million house. There was talk that TLC bought the house for them outright but we've learned that is not true. TLC paid them a salary and that's it.

We're told Jon and Kate have established a trust fund for their kids and it's well into the 6 figures, but they have significant debt. They still haven't been able to sell their first house and they owe a mortgage on it.

The reality is ..."Jon & Kate Plus 8" is good for the 8 but Jon and Kate are kinda strapped.

232 COMMENTS

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181.

Ellen    

I think they have more money then they let on. If they are so short on cash, why do they travel and stay in 5 star hotels? What about all the money Kate made on her books that got published and on the dvds you can buy PLUS the money they are making for being on the show and the money they even get when repeats are shown. I don't feel sorry for them at all. Kate was always about money.. her friends from high school even said that. Her family even says that and no one in her family even see her anymore because they can't handle her. Look how she dresses...look how the kids dress...look at the stores that they come out of with shopping bags that the papparazzi take. They have money!

1740 days ago
182.

agentzero    

These 2 take the cake. It never ceases to amaze me how affected reality tv "stars" can become. How could they not see how much they're exploiting their kids? This is light years beyond Larry Birkhead selling the rights to his child's birthday party to gossip magazines, this is bold new territory in appalling behavior. Larry had some legal difficulties but it was only when terrible and un-verified things were written about him in a book and when a shady Howard K. Stern tried to claim paternity of his daughter that he took it to the courts. Here we got the parents who are gearing up for an ugly divorce and God knows what after that. Despicable.

1740 days ago
183.

Maria    

So what is new?

Jon and Kate both stopped working once they were getting money from this show and thought they had it all.

Thy could sell their kid's privacy and not really work.

Yet they lied so much on the show that it became apparent to viewers that they were lying and they were finally getting caught in their lies.

Kate recently stated that she would work at McDonalds to support her children, yet she is a license nurse. So why not work in that capacity to support your children. Obviously she is talking out of her hole.

Jon is no better....

They have two mortgages AND an apartment in New York for Jon.
Their only living expense they had was in a joint account.

Yet one of them is claiming they have 11 accounts.

Kate also had millions from her book sales. Let us not forget the speaking engagements they had going for awhile.
They were getting paid for them ON top of churches asking people for love donations and they were selling pictures of the children for $20 each.


They should have kept their jobs and what is the problem now if money is tight. GO to work!

No, wait they are too busy jetting around to do interview after interview slamming each other and then claiming they are doing all this for their kids.


1739 days ago
184.

Diane    

Welcome to the real world Jon and Kate.You both need to grow up and act like parents not kids.You knew it would not last the money the shame and your poor kids.Come back down to earth and live like the rest of us.To bad you can't pay for things maybe you should have thought about that before hand.I only wish I could pull 200.000 out of my bank account.Was it worth it?go live with the homeless they have more class than you 2.

1739 days ago
185.

lori    

Jon and Kate really need to go back to the "humble beginnings" and remember the people that helped them "survive" the lean years. They also need to learn to be thankful and not just say it to who ever is nearby, but show it! I have NEVER seen Kate act thankful for a single thing she has, because she is so busy taking and being a snobby b---- about it. Now she acts as though she is owed all this attention. Listen, she just had 6 babies at one time.. I know there are more families out there that has done that and more and not market them for gain. Jon has never claimed to be anything more than a simple man raising his family, he hasn't claimed to be a brain, has fully admitted his faults as they go along, and being that they had those kids pretty young and naive. Kate seems to have had more experience in the greed department long before Jon ever met her and alienated family and friends along the way who didn't par take in her way of life. TLC needs to cut them both loose, and find another reality show worthly of its time.. this family has gone from need to greed in a matter of a few years. please release them with dignity and be done with it.. they got their trust funds for the kids as they set out to do... can we please let this couple break up in peace.

1739 days ago
186.

jms    

In all "reality" how long did they think they show would last, even if not for all the trouble in paradise. Sounds like to much high living and not enough planning. I had 5 kids...I know I'm 3 short... but my husband and I raised them from check to check. Now that's reality !!!!!

1738 days ago
187.

mary    

why did they need to move into this new larger home before they sold the other one?

1738 days ago
188.

Tammy H.    

How can that only be the money left??? That makes no sense at all. Their salary, book sales, all the free stuff and vacations...plus they already had trust funds for the kids given to them when the sextuplets were born by the Gov. of PA. Something isn't adding up here, but maybe Kate should of thought about saving money instead of blowing so much on unneeded things. Who needs their hair done every week or mani/pedi's every week...plus the kids got free hair cuts and dental visits so I would like to see their tax return and some receipts, but I don't believe for one minute, TLC didn't pay for most of the house if not all of it. That's bogus. They let that money burn a hole in their pocket and that just goes to show who came 1st in their life..themselves. Look at all the perks they got...nannies, cooks, housekeepers, trips, clothing, shoes..etc. They should be millionaires. It's their own fault. But the kids will suffer.

1738 days ago
189.

phyllis blackwell    

I don't blame them for doing the show to allow their kids to have a priveledged life like Jon had as a physician's son. Kate has placed a lot of the money into the kids' accounts and that can't be touched, thankfully. Jon says each of them have checking and savings plus a corporate account (he raided) and Household account the bills are paid from. There is no $2.2 million laying around. With his $230K- he said he took out one-tenth this year- then the other nine-tenths should be left for the 8 kids and Kate- whether it comes in the form of property or cash. Do you expect them to move to a 2 bedroom apartment and try to live on a nurse's salary? How much is left after child care for eight?

1737 days ago
190.

Kiln    

Its good they established a trust fund for their kids, I just hope they set it up properly so it isn't affected by their (the parents) debt problems. At least then the kids will have some college money and potentially start up money, when they're old enough.

1724 days ago
191.

suemny    

Jon is just plain stupid. He cut off his main source of income by halting filming, strictly out of spite towards Kate and TLC, which was giving him grief over violating the terms of his contract. Now they are going after the money he is being paid by E and The Insider. What they don't get, that sleazy lawyer of his will take. When all is said and done Jon will be petitioning the court for alimony. he will be broke and unemployed; Kate will be smiling all the way to the bank! The biggest losers will be those 8 kids! Once the vultures pick over Jon and Kate's bones, there will be nothing left for those kids, and they're the ones who earned the money!

1720 days ago
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