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Banned
Join Date: Sep 2006
Location: South of Heaven
Posts: 21,159
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IDIOTS! Foreclosure...
'Extreme Makeover' house faces foreclosure
Mon Jul 28, 11:32 AM PDT More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005. Three years later, the reality TV show's most ambitious project at the time has become the latest victim of the foreclosure crisis. After the Harper family used the two-story home as collateral for a $450,000 loan, it's set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed. The house was built in January 2005, after Atlanta-based Beazer Homes USA and ABC's "Extreme Makeover" demolished their old home and its faulty septic system. Within six days, construction crews and hoards of volunteers had completed work on the largest home that the television program had yet built. The finished product was a four-bedroom house with decorative rock walls and a three-car garage that towered over ranch and split-level homes in their Clayton County neighborhood. The home's door opened into a lobby that featured four fireplaces, a solarium, a music room and a plush new office. Materials and labor were donated for the home, which would have cost about $450,000 to build. Beazer Homes' employees and company partners also raised $250,000 in contributions for the family, including scholarships for the couple's three children and a home maintenance fund. ABC said in a statement that it advises each family to consult a financial planner after they get their new home. "Ultimately, financial matters are personal, and we work to respect the privacy of the families," the network said. Some of the volunteers who helped build the home were less than thrilled about the family's financial decisions. "It's aggravating. It just makes you mad. You do that much work, and they just squander it," Lake City Mayor Willie Oswalt, who helped vault a massive beam into place in the Harper's living room, told The Atlanta Journal-Constitution. ___ Information from: The Atlanta Journal-Constitution, http://www.ajc.com ----------------------- Nothing like losing a house that was already paid for. It is amazing how stupid people are. My brother did the same thing once when our Grandmother gave him her fully paid off suburban house in her twilight years- with the understanding that he'd fix it up and take care of her until her time came. Well, he took out a fly by night home equity loan from one of those rackets you see on TV, blew all the money on cars, guns, women and drugs(for women) so fast that my Grandmother sadly lived long enough to watch him lose it all. She died penniless in a nursery home, now him and his 4 kids from 3 different women live in his father in laws' duplex. Some people are really so stupid that it amazes me they remember to breathe. |
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07-29-2008, 02:07 PM
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Turbo 13b guy
Join Date: Mar 2008
Location: Atlanta, GA
Posts: 401
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Yeah basically everydown here cant believe they ar that dumb. That is a very nice house house down here too! That money goes FAR in GA.
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1975 911S Targa(333 hp/276 tq) |
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07-29-2008, 02:08 PM
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another round please
Join Date: Sep 2004
Location: Carmel In.
Posts: 4,452
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I heard about this today and cant believe it. There has to be another story here. But as things go, I dont think so. If the house was donated, why would a bank loan money to the owners? Some very stupid bankers out there. This should be good.
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Getting old is not for wimps. |
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07-29-2008, 02:12 PM
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Registered
Join Date: Jun 2003
Location: Fresno, CA
Posts: 7,763
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Quote:
I'm sure it was fun while it lasted. When you don't earn what you have, people have a tendency to let things like this happen - easy come, easy go. I just hope the news media doesn't try and make me feel sorry for these guys. |
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07-29-2008, 02:37 PM
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drag racing the short bus
Join Date: May 2002
Location: Location, Location...
Posts: 21,983
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You can rebuild a house, but can't rebuild stupidity.
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The Terror of Tiny Town |
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07-29-2008, 02:41 PM
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(the shotguns)
Join Date: Feb 2006
Location: Maryland
Posts: 21,527
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it sounds ignorant but many folks end up in rotten situations because they make bad decsions....repeatedly. in the few episodes i watched nothing was done to remedy this tendancy.
yes, i know some folks just suffer from bad fortune and they deserve help from us all. but it's the exception and not the rule. and shame on the banker who loaned money against that home. they most certainly should have known better regardless of how sound the business plan may have seemed at the time. the home was a GIFT and not intended as a financing tool. sometimes as professionals we need to do what is RIGHT and not was is ALLOWED. ****ing morons the lot of 'em.
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***************************************** Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again! I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions. |
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07-29-2008, 03:02 PM
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Registered
Join Date: Nov 2003
Location: Seattle
Posts: 1,246
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Why anyone watched that 60 minute Sears ad is beyond me.
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"Rust never sleeps" |
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07-29-2008, 03:15 PM
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(the shotguns)
Join Date: Feb 2006
Location: Maryland
Posts: 21,527
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not to mention what a disgusting waste of resources some of those houses were. how many needy families could've been helped instead? i see this family endured the loss of a 2yr old and that is truly beyond my comprehension. i could never function after such a thing. but honestly did they really need all that crap?
not only are we a wasteful society but we praise this waste!!! as if those clowns were doing some sort of great work in the public interest. sick.
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***************************************** Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again! I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions. |
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07-29-2008, 03:16 PM
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(the shotguns)
Join Date: Feb 2006
Location: Maryland
Posts: 21,527
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every one of the homes they did should have been held in trust.
again, pitiful.
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***************************************** Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again! I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions. |
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07-29-2008, 03:19 PM
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Registered
Join Date: Oct 2006
Location: Colorado, USA
Posts: 8,279
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To all those good-hearted, hard working volunteers:
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07-29-2008, 03:39 PM
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Slackerous Maximus
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,157
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Its STUNNING how ****** stupid people are.
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2022 Royal Enfield Interceptor. 2012 Harley Davidson Road King 2014 Triumph Bonneville T100. 2014 Cayman S, PDK. Mercedes E350 family truckster. |
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07-29-2008, 03:39 PM
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Registered
Join Date: Feb 2003
Posts: 572
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Easy come, easy go. A fool and his money are soon parted.
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07-29-2008, 03:39 PM
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Registered
Join Date: Oct 2006
Location: Colorado, USA
Posts: 8,279
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Quote:
The article says the family used the loan to try to start a construction business that failed. I guess there are worse things the money could have been spent on. |
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07-29-2008, 03:43 PM
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Virginia Rocks!
Join Date: Oct 2003
Location: Just outside the beltway
Posts: 8,497
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I would like to know what the loan was for. What could they possibly need? Really.
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Rosewood 1983 911 SC Targa | Black 1990 944 S2 | White 1980 BMW R65 | Past: Crystal 1986 944 na Guards Red is for the Unoriginal
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07-29-2008, 03:44 PM
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Registered
Join Date: Oct 2006
Location: Colorado, USA
Posts: 8,279
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Quote:
"The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed." |
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07-29-2008, 03:46 PM
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Sultan of Sawzall
Join Date: Oct 2004
Location: Louisiana "Take me to 'da bridge"
Posts: 4,806
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The "gimmee, gimmee" mentality strikes again!
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Gruppe B #319 2 '86 911 Carrera coupes (red & white) '66 Corsa convertible 140/4(red) '66 Monza coupe 110/PG(white) '95 993 cabriolet (wife's) |
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07-29-2008, 03:48 PM
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Registered
Join Date: Jan 2004
Location: Texas
Posts: 11,256
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given the pool, that scholarship $ is going to sit for a long time..
GED or Bail fund maybe, Rika |
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07-29-2008, 04:07 PM
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Registered
Join Date: Jan 2004
Location: Texas
Posts: 11,256
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given the pool, that scholarship $ is going to sit for a long time..
GED or Bail fund maybe, Rika |
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07-29-2008, 04:07 PM
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Yesterday CNN ran a story about a woman fighting off foreclosure on her house by suing her realtor because her loan officer was already out of business. The woman was a librarian and makes around $52k a year and bought a house for over $500k. No mention whatsoever in the story about why this woman thought she'd be able to handle a mortgage 10x her annual income. It was all greedy lenders' and realtors' fault. The CNN reporter didn't ask her at all why she thought she could afford that house.
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2022 BMW 530i 2021 MB GLA250 2020 BMW R1250GS |
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07-29-2008, 04:16 PM
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Registered
Join Date: Oct 2000
Location: agoura hills, ca 91301
Posts: 2,634
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Quote:
Eeehhh! That is nothing in my law-of-relativity! My uncle won the lottery to himself; blew ALL the millions in less than 2 years! 
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07-29-2008, 04:33 PM
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Only Porsche
Only bike
