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Ariana Madix Opens Up About Tom Sandoval Taking Out a Home Equity Loan to Finance the New Bar
The Vanderpump Rules cast member shared her feelings on her boyfriend's plan to finance his upcoming bar with Tom Schwartz.
As Tom Sandoval prepares to open a new bar with Tom Schwartz, Lisa Vanderpump has some strong thoughts on Sandoval's financial situation.
On Vanderpump Rules' October 5 episode, Lisa and Ariana Madix met for lunch and quickly got to talking about Tom's home equity loan to finance the bar. "You're remortgaging your house and everything, refinancing your house," Lisa said, to which Ariana replied, "Well, he's doing that loan, but it's only against his own equity. It doesn't affect me at all."
Lisa was confused, to say the least, asking, "What do you mean it's only against his equity?" and pointed out that Ariana and Tom are "joint co-owners" on their $2 million Valley Village house." In an interview, Lisa shared more thoughts on the arrangement. "I'm not sure that Ariana quite understands the concept of putting your house up as collateral," she said. "If they default on their loan, then the bank never goes and takes half the house back. It's like, 'Ariana, you stay in bed. We only want Tom's half.' It doesn't work like that."
Still, Ariana felt confident in her plan with her longtime love. "All of that financial responsibility is on him and him alone, and my financial responsibilities are remaining intact," she said in an interview, adding to Lisa, "We've worked this out together."
Sandoval and Schwartz revealed their plans to open their new bar and restaurant on the show's Season 9 premiere, although they hadn't yet agreed on a name. On Watch What Happens Live with Andy Cohen's September 28 episode, the best friend duo finally confirmed the name for their new venture. "It's Schwartz and Sandy's," Sandoval said, while Schwartz added, "It's official."
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