A paid-off Extreme Home Makeover house in foreclosure

[llecs]

http://www.wsbtv.com/video/16981154/index.html

They blew it!

[Anonymous]

big time- blew it

[Anonymous]

OMGosh!!! I can't believe that!!!

What in the *bleepity-bleep-bleep-bleep* made them even CONSIDER it?? No investment's worth sacrificing your HOME, for goodness sake!!

Apparently, out of the whole "deal" they "MADE" $350K. $250K in donations and $100K towards their old mortgage. Wow. Just ... wow.

What do you think they'll do now?? And I wonder what Extreme Makeover will do, too. Do you think they'll take steps to prevent this from happening in the future? Or will they just stop everything, period??

[Watchmann]

This is a fairly common practice with families that get free homes, like Habitat for Humanity.  They are offered a cash out refinance which puts 'free' money in their pocket, then they default.  These are very financially unsophisticated people.  A real shame.  You can see how some people got sucked into buying homes in the last couple of years who have no idea what paying a mortgage means.

[athensguy]

Maybe the ABC should put a lien on the house.

Here's a text article:
http://www.nationalledger.com/artman/publish/article_272621800.shtml

[Anonymous]

abc has no right , they are scum's they don't give  a penny towards the house , they pay to advertise the show and pay TY's  salary, the actual house is donated by the local government and local business

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athensguy wrote:
Maybe the ABC should put a lien on the house.

Here's a text article:
http://www.nationalledger.com/artman/publish/article_272621800.shtml

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[athensguy]

Well fine, maybe whoever gave the most money towards the house should get a lien Only to prevent taking out loans, etc, and so it can't be sold right away.

[llecs]

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rbbyrbsn wrote:

abc has no right , they are scum's they don't give  a penny towards the house , they pay to advertise the show and pay TY's  salary, the actual house is donated by the local government and local business

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Without ABC, the advertisers, and the show, that family would have been homeless sooner. And yes, ABC, the companies who advertise their wares by donating to these homes, and the builders who mostly paid for these homes are doing this for profits. And that is a good thing. Otherwise it is hard telling where scores of families would be today.