Extreme Make-over Home in Foreclosure

[cstreu1026]

http://tv.yahoo.com/extreme-makeover-home-edition/show/36736/news/urn:newsml:tv.ap.org:20080728:tv_extreme_makeover_ foreclosure

[NaomiDstangLvr]

That sucks, maybe they shouldn't have put it up for collateral on a $450,000 loan! Dummies!

[Black Horse]

I remeber that particular show...thought to myself that that was a hugh house for that family in that neighborhood. It was that very show that put me off of watching the show until last season when they became a bit more realistic.

Bottom line, when someone gives you seeds, you have to plant, water and nuture or they will die.

[cstreu1026]

yup....fools and their money (or in this case collateral) will be parted.

[95redstang]

They were syaing this is the most expensive home ever built by the show. On the last day of filming at the West Chester house, I was talking to one of the builders from Dallis Homes and they estimated this house $800,000-$850,000..
Hopefully everything goes well for the West CHester family.They were really nice. It was great to drive them around and be in the show, even though I don't agree with a lot of the stuff that goes on with the show. That is a deserving family for sure. This house is sweet..:bigthumb

[7upStang]

Unfortunately this happens too often when someone is given a home for nothing. There has been a few articles on people who get Habitat for Humanity Houses. Someone is given a house for free and not educated in protecting their largest single asset and they squander it. I am not saying this happens to the majority many of the people who get these houses will never consider losing them. It is vary easy for unscrupulous people to take advantage of these people and steal a valuable asset. I do not know the circumstances of these people or how this whole deal went down.

[Waffles]

"Three years later, the reality TV show's most ambitious project at the time has become the latest victim of the foreclosure crisis."

HA! The bank lent money, the borrowers didn't repay the money. How is anyone besides the bank a victim?

[ADaughen]

"oops!"

What did they need $450k for? :o


Personally, if I didn't have a house payment/house maintenance costs. I would be sitting pretty.

[5.0calypso93lx]

"oops!"

What did they need $450k for? :o


Personally, if I didn't have a house payment/house maintenance costs. I would be sitting pretty.

The "used" it for an attempt on a construction company that failed. Not sure how much I believe that all that money went towards the business.

Once poor, always poor...

[ibstrokin]

What it boils down to is, A bunch of people got together and gave the family 450k, which they blew in 3 yrs., and now don't have anything to show for it.

[Black92LX]

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.

Ironically enough Beazer Homes is in serious financial troubles as well.
They completely uprooted from here and Louisville. While having quite a few contracts to build.
I know a couple people that got screwed in that process.

[PONYGRL]

That's what happens when people live outside their means. Like my parents were saying last night, they could go out and get approved for a $750,000 loan for a house.... but it would be completely IDIOTIC for them to do that. Yet that's what tons of people do, they get the biggest nicest house they can, solely because they can get a loan, then a year later.... foreclosed because they realize they can't afford it.

[REDHOTGTGIRL]

That's what happens when people live outside their means. Like my parents were saying last night, they could go out and get approved for a $750,000 loan for a house.... but it would be completely IDIOTIC for them to do that. Yet that's what tons of people do, they get the biggest nicest house they can, solely because they can get a loan, then a year later.... foreclosed because they realize they can't afford it.

Bingo!

[cstreu1026]

Ironically enough Beazer Homes is in serious financial troubles as well.
They completely uprooted from here and Louisville. While having quite a few contracts to build.
I know a couple people that got screwed in that process.

They pulled out of our neighborhood as well. They still own a lot of land that they now have no plans on developing. Actually I just looked and it seems they have pulled out of Ohio all together. Its looking as if our neighborhood is going to have to sue Beazer to gain control of the HOA as well.

[Jaylynn]

I only watched the show a few times that year - - - it was depressing watching ppl get a house that was waaay outside of their means when they didn't take care of the one they had. (not all were like that) I really LOVE the ones where there's special-needs involved - most of those ppl are dong ok or just trying to get by but can never really do better b/c of medical costs etc.

Just kind of dumb to gamble this awesome gift you rec'd .........

[PONYGRL]

I only watched the show a few times that year - - - it was depressing watching ppl get a house that was waaay outside of their means when they didn't take care of the one they had. (not all were like that) I really LOVE the ones where there's special-needs involved - most of those ppl are dong ok or just trying to get by but can never really do better b/c of medical costs etc.

Just kind of dumb to gamble this awesome gift you rec'd .........

Agreed.

[wild87stang]

All i can say is that family was that dumb to go out and do that then they are getting what they deserve i hate to say somthing about a family like that but its true you are given this great gift and its like they dont even care!