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drag racing the short bus
Join Date: May 2002
Location: Location, Location...
Posts: 21,983
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From the irony file: Extreme Makeover Home in foreclosure...
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The Terror of Tiny Town |
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12-08-2008, 02:40 PM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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Is this the same family that remortgaged and put the money into a business that failed or a new situation all together?
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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12-08-2008, 02:43 PM
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Registered
Join Date: Jan 2002
Location: Long Beach CA, the sewer by the sea.
Posts: 38,239
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From that link: "After their appearance on the show, Larry was laid off and they remortgaged the house. Since then the mortgage has been resold to different companies three times, with the interest rate jumping each time."
Something wrong there. |
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12-08-2008, 02:46 PM
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another round please
Join Date: Sep 2004
Location: Carmel In.
Posts: 4,452
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Is the foreclosure caused by the business failure or too much house mortgage? I thought the houses are given to the people at no cost. Correct me if I'm wrong. I dont watch the show.
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Getting old is not for wimps. |
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12-08-2008, 03:15 PM
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Band.
Join Date: Dec 2003
Location: Denver, CO
Posts: 13,411
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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/
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1983 SC Coupe 2020 Macan Turbo 1963 BMW R60/2 1972 Triumph Tiger 1995 Triumph Daytona SuperIII Last edited by Gogar; 12-08-2008 at 03:20 PM.. |
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12-08-2008, 03:17 PM
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another round please
Join Date: Sep 2004
Location: Carmel In.
Posts: 4,452
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You mean they got $450,000 and now want $950,000 for the house. Wow, must be nice.
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Getting old is not for wimps. |
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12-08-2008, 03:22 PM
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Band.
Join Date: Dec 2003
Location: Denver, CO
Posts: 13,411
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Quote:
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1983 SC Coupe 2020 Macan Turbo 1963 BMW R60/2 1972 Triumph Tiger 1995 Triumph Daytona SuperIII |
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12-08-2008, 03:42 PM
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