Heidi Montag Bankrupt and Homeless

Heidi Montag and Spencer Pratt are considering filing for bankruptcy after blowing over $10 million they made from working on The Hills and other projects.

"We were immature, worrying too much about the famous part instead of the actual business part," The newly reunited couple tells Life & Style. "In hindsight, we shouldn't have spent any of our money. We should have been low-key and saved. We spoke with a bankruptcy attorney and I've looked into unemployment checks."

So, how exactly did Speidi blow their reality television fortune?

The former Hills stars claim they spent $3 million on Heidi's failed music career including buying songs for $40,000 a piece plus hundreds of thousands on Heidi's surgeries, and now owe $2 million in back taxes.

"We thought The Hills was going to be like 90210 and we'd have another five to 10 years," Spencer says. "The ratings were consistent. But we never saw Jersey Shore coming. Before, TV audiences were fine with seeing us all argue, but now they want you to punch one another in the face and hook up with three different people. Our cast was a bit boring and snoozeworthy in comparison. No wonder we got canceled."

"At our lowest point, I considered posing for nude pictures in Playboy," Heidi admits. What stopped her? Spencer's parents' appeal for her to keep her clothes on in exchange for living in their guesthouse - a studio apartment. "Spencer's parents go to the grocery store for us once a week," Heidi says, "and that's all we get."

"But we don't want sympathy. We did this to ourselves and feel like idiots. But we've grown up and are definitely not as naive anymore," Speidi added.