Extreme Home Makeover, Extreme Forclosure?

[REP0MAN]

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'Extreme Makeover' house faces foreclosure
Mon Jul 28, 11:32 AM PDT

More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

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

After the Harper family used the two-story home as collateral for a $450,000 loan, it's set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed.
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The house was built in January 2005, after Atlanta-based Beazer Homes USA and ABC's "Extreme Makeover" demolished their old home and its faulty septic system. Within six days, construction crews and hoards of volunteers had completed work on the largest home that the television program had yet built.

The finished product was a four-bedroom house with decorative rock walls and a three-car garage that towered over ranch and split-level homes in their Clayton County neighborhood. The home's door opened into a lobby that featured four fireplaces, a solarium, a music room and a plush new office.

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.

ABC said in a statement that it advises each family to consult a financial planner after they get their new home. "Ultimately, financial matters are personal, and we work to respect the privacy of the families," the network said.

Some of the volunteers who helped build the home were less than thrilled about the family's financial decisions.

"It's aggravating. It just makes you mad. You do that much work, and they just squander it," Lake City Mayor Willie Oswalt, who helped vault a massive beam into place in the Harper's living room, told The Atlanta Journal-Constitution.

The story didn't have any pictures of the house, so, I went to Youtube and found this video. I guess it's Obama's fault, according to the video.
http://www.youtube.com/watch?v=QoCZVrby1FE

The Harper Family House


The Harper Family

[xNOVAx]

The financial idiocracy of some people is making my head hurt more and more every day..

The 2 golden rules of personal finance:

1: Never EVER risk what you can't afford to lose.
2: Never go into debt for anything you couldn't pay cash for unless its education or a home.. If it's a home, be able to cover your damn mortage or you don't fluff'n buy it..

Simple simple simple, but people just don't get it..

[Sandman]

Oh they could afford to lose it. It's not as if that house cost them anything.

[Fulmar]

I'm honestly surprised this is the first I've heard of this.  Ty Pennington is in my top 10 most hated people on the planet...probably in the 5-6 range behind Cher and Rosie O'Donnell.  

I've seen clips of that show before.  I had to schedule a dentist appointment the following week it was so sappy sweet.  8 cavities.

[xNOVAx]

Oh they could afford to lose it. It's not as if that house cost them anything.

That's true I guess, but it's still pathetic as hell they fully risked and lost a beautiful house that was simply given to them..

I suppose giving people a home like this who have no idea how to handle money is like giving the keys of one of these



to a 13 year old who's watched 'Fast and Furious' a few too many times and tell them to "Have Fun"

[Gh0stFT]

LOL that is the car my chef drives in the summer besides his Mercedes & Porsches 
cept with black stripes! What a sound.
Btw. he bought an old Castle for a few millions. where he lives now, hehe
Lucky bastard, but a selfmade $ man!
Back to the topic, a nice house!