'Extreme Home Makeover' House Threatened With Fore
 

'Extreme Home Makeover' House Threatened With Foreclosure

CLAYTON COUNTY, Ga. -- An Extreme Home Makeover may be going bust. The first metro family who got a new home is facing foreclosure.

Channel 2 followed the progress as an army of volunteers swarmed a Clayton County neighborhood to build a new home for a deserving family on “Extreme Makeover: Home Edition” in 2005. When the show came to town, no one could have predicted what would happen less than four years later -- foreclosure.

A foreclosure notice appeared last Friday, a $450,000 second mortgage they took out less than 15 months ago was in default.


http://www.wsbtv.com/news/16980412/detail.html

Re: 'Extreme Home Makeover' House Threatened With
 

So sad that people can't be good stewards!

Re: 'Extreme Home Makeover' House Threatened With
 

It was one of the biggest houses to date --can you imagine losing a free mansion?!

Re: 'Extreme Home Makeover' House Threatened With
 

I heard this on the news and thought how could anyone do such a thing. The family gets blessed with a makeover and then it's threatened with foreclosure.

Re: 'Extreme Home Makeover' House Threatened With
 

Some of them get the mortgages paid off by the builders some don't. The taxes must be huge too.

Re: 'Extreme Home Makeover' House Threatened With
 

They took out a second mortgage?!?!??!?!?!?!?

Re: 'Extreme Home Makeover' House Threatened With
 

Their mortgage was paid off and they got $100 thousand dollars? Wow, they did get themselves into a mess.

Re: 'Extreme Home Makeover' House Threatened With
 

Yes, and invested the free $100 thousand dollars into something that turned out to be a bad investment. Hence the 2nd mortgage.

Re: 'Extreme Home Makeover' House Threatened With
 

In those types of situations, the person receiving the house should not be able to borrow against it. Someone else maybe should hold the deed to the home. Its just a shame ,,,,

Re: 'Extreme Home Makeover' House Threatened With
 

:crazy

Re: 'Extreme Home Makeover' House Threatened With
 

I agree that should be part of the deal-not being able to borrow against it.

Re: 'Extreme Home Makeover' House Threatened With
 

Extreme Makeover Home Edition is my favorite TV show. A lot of times the children get free education, and some of the families get free vehicles. I really don't understand this at all. I guess I will have to watch the video to remember this family.

Re: 'Extreme Home Makeover' House Threatened With
 

Re: 'Extreme Home Makeover' House Threatened With
 

Some people are just plum stooopid!!!!

Re: 'Extreme Home Makeover' House Threatened With
 

I agree 100%. There should be a trustee set up at a bank or something and they should not have the ability to do something like this for at least 10 years.

Re: 'Extreme Home Makeover' House Threatened With
 

I bet this will be in place now.

Re: 'Extreme Home Makeover' House Threatened With
 

My thoughts exactly!

Re: 'Extreme Home Makeover' House Threatened With
 

I am not sure I see the connection to the subprime mess, but it is one thing for a family to bite off more then they can chew -and loose their home. It is quite another to be GIVEN a FREE home, and still lose it.
What it does remind me of, and is consistent with, are the great number of lotto/powerball winners who take home millions -only to declare BK within a couple of years!

Re: 'Extreme Home Makeover' House Threatened With
 

I wish I had learned how to be smart with my money when I was younger. It took too long to figure out how dumb I was being.

oh well, like GI Joe says, "Now you know! And knowing is HALF the battle!"

Re: 'Extreme Home Makeover' House Threatened With
 

:ursofunny

Re: 'Extreme Home Makeover' House Threatened With
 

Re: 'Extreme Home Makeover' House Threatened With
 

Re: 'Extreme Home Makeover' House Threatened With
 

Sister, in the future, if you write a book this important, would you mind sending me a copy BEFORE i make all the mistakes?????


thank you.

Re: 'Extreme Home Makeover' House Threatened With
 

I agree it was not smart to take a second mortgage on the home. They did get the money to help launch a construction business, it failed. You would think that they would have considered this, "I can get the money for the business and if it don't workout I lose my home...No thanks!" But alas it seems that if it were a consideration they were just plain dumb about it. Myself being a second mortgage lender I could say with real conviction, what was the bank thinking? No bank wants to end up with your home cause you can't pay the debt. I will not do a second on a large home if income can not be verified and there is a laundry list of things, we don't want your house. Many banks have stopped lending on high dollar homes, for second mortgages, cause is some areas the resale market on those homes are very poor. Practicing irresponsible borrowing and practicing irresponsible lending is some of what got the country in the shape it is with peoples homes.

Re: 'Extreme Home Makeover' House Threatened With
 

Re: 'Extreme Home Makeover' House Threatened With
 

LOL! im trying! but my baby keeps racking up $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$


gonna write that boy a bill plus interest when he gets older.

Re: 'Extreme Home Makeover' House Threatened With
 

Probably not. The type of people who could get themselves into this sort of situation are also the type who don't think there's anything wrong with them or their habits. They sincerely believe their hardships are all the blame of external forces they couldn't control and not "the guy in the mirror"doing stupid with 0s on the end.

Re: 'Extreme Home Makeover' House Threatened With
 

Re: 'Extreme Home Makeover' House Threatened With
 

Sister, life may get worse, but the expense? if so, he is gonna have to be a doctor are a major wall street banker to pay me back.

Re: 'Extreme Home Makeover' House Threatened With