Extreme Makeover pays off any existing debt on the homes they renovate. The Detroit family RE-MORTAGED the home that they owned free and clear.
The other Extreme Makeover home was in Suburban Atlanta, the "Harper Family." Extreme Makeover Home Edition paid off their debt and built them a brand new home. All they had to do was pay the property tax.
They took out a HELOC on their newly renovated home - from a reputable local lender, named CASH EXPRESS, for $450,000.
The premise of the loan was for a startup 'home construction" business that Mr. Harper, the head of the household, would run.
Kind of an interesting choice of business, since Mr. Harper apparently had little skill or experience in home renovations and/or construction.
Now, the home is in foreclosure and on the market for $950,000.
No sympathy here , sorry.
http://realitytv.about.com/od/extrememakeoverhome/ss/HarperMakeover.htm
http://www.hicktownpress.com/extreme-makeover-family-milton-patricia-harper-have-lost-their-home/