Home makeover disaster! How could they be that irresponsible?

[kt_luvs_kitties]

An Atlanta home that the Extreme Makeover: Home Edition folks refurbished is in foreclosure danger, according to a new report.

The owners, Patricia and Milton Harper, reportedly took a $450,000 second mortgage on the home about 15 months ago and have defaulted on the loan.

One of the homeowners said they struck a deal with their bank to rescue their "extreme" home and that there will be no foreclosure auction.

But, the bank would not confirm that claim.

The report goes on to point out that the loan proceeds were invested in a failed construction business.

A city official, who volunteered to help the ABC show create the 'dream home', expressed surprise that the family is in a foreclosure predicament.

He said the local contractor who 'sponsored' the ABC rebuild effort paid off the Harpers' mortgage AND gifted the family with $200,000.
--------------------------------------------------------------------------Here is the family in question:

http://www.ajc.com/living/content/li...21extreme.html
__________________________________________________ _______________

That is just crazy!

[jennielynn1970]

Can we say "GREEDY" and "UNGRATEFUL" ?!

What a shame.

Take the house and let them go live a an RV or trailer.

[shepgirl]

Maybe NILIF should apply to humans also.

[Karen]

I think they were just as unwise after the makeover with their finances as they were before ... money does not come with an endowment of intelligence added.

[jennielynn1970]

If that's the case, I hope the makeover people have better screening processes.

[lizbud]

I think they were just as unwise after the makeover with their finances as they were before ... money does not come with an endowment of intelligence added.

Unfortunately true. The program is aptly name, it was all extreme.
All that money spent for one house? What a waste.

[Freedom]

All that money spent for one house? What a waste.

It says that is what they would have spent, materials and labor were all donated for the house.

I guess it is similar to some folks who win the lottery and are in bankruptcy 3 years later. Not everyone can manage money; and sometimes that is why they are in the hole they are in before the show arrives to fix things.

[kt_luvs_kitties]

I just hope that the show does not bail them out again. That money/time/energy needs to go to families that can be responsible and handle it. With all of the cash, and a fully piad for home, that money couldv'e lasted a VERY long time. Not to mention they could have went back to school to learn a valuable trade...

And I never got that either... Why build one ridiculous home, when the cost for supplies could build atleast 10 nice standard homes for other families

[Daisy and Delilah]

If anyone has watched the show, they spare no expense for any of the families. It's unbelievable how much they do for the people that live in the house. I've often wondered how the family plans to cover expenses after the crew of 2000 people has gone.

I think I remember them paying a years mortgage in some cases but, some people are just irresponsible. How can the show guarantee the family will take care of all the costs? I guess they can't.

Getting a new, gorgeous, home like that should make them get out there and do everything they can to keep it. It would be a very humbling experience for me.

[jennielynn1970]

I never realized that they didn't get the home free and clear.

I always thought it was "Here's a brand new house. You never have to pay a mortgage payment ever again."

Did they only do that with this one family (paid in full), or did it depend on the family??

I've not been a watcher of this show. I think I've seen 2 of them.

[Cinder & Smoke]

The owners, Patricia and Milton Harper,
reportedly took a $450,000 second mortgage on the home
about 15 months ago and have defaulted on the loan.

I always thought it was "Here's a brand new house. You never have to pay a mortgage payment ever again."

I think is WAS "free & clear, with no mortgage" ...
Untill the homeowners took out a SECOND Mortgage for $450,000!!

[jennielynn1970]

But are they usually free and clear??

[Grace]

But are they usually free and clear??

I do think so. The shows that I've seen, at the end Ty tells the owners that a certain business in town has paid off the mortgage. Don't know if it was always done like that.

They do have to pay the taxes on the property. And I guess it's possible for them to take out an equity loan.

[kt_luvs_kitties]

Yes, they get the house free and clear.. They do have to make payments for taxes, electric etc... They usually give the new homeowners "gift money" to help with those costs.. Either way it would be way cheaper than paying ANY mortgage payments.

AND they usually pay off the old mortgage on the house they tear down... I have never seen them NOT do it...

I just can not believe anyone, after having a gift like this to change their lives, can manage to make it a bad thing... It is CRAZY!

[Catty1]

Hey - wish the extreme makeover bunch could start renovating and funding a few large FOSTER HOMES for animals!

A couple of years' mortgage paid would go a LONG way - maybe even help set up a low cost S&N or TNR.

I can dream, can't I?