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Extreme Foreclosure
Filed under: TV News
Who's going to bail them out now?????
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 $100,000.
Crazy!
Sounds like the family wasn't too smart with their finances.
[Image via WENN.]
Re: Carri – poor people are you kidding. they are greedy little monsters and I say screw them.
Re: LettyB – Your avatar is great. No bank, just a little financial work for a decade or two, but the rules are always changing, so only people currently involved know the current rules. Oh, and the IRS.
I am a real estate broker and my husband and I watch these shows and have to tsk-tsk these poor homeowners who know NOTHING about housing or finances (it seems) and then get these incredible properties. Taxes anyone? Often these people are in no position to maintain taxes or the home itself. If the builder (god love 'em) pays off your mortgage !!! then you're a fucking asshole to take out another mortgage for ANY reason. But everyone gets bead-eyed greedy when it comes to this kind of new wealth and they exploit it. I think our San Diego recipient had fucked up problems with taxation. It's a real crazy TV world we all live in.
They were black.
Sounds like a bunch of ungrateful bastards! WHO would do that? They had NO mortgage…I can only dream of that and my house doesnt even cost half as much as that beautiful home they were entrusted with. TOTALLY unworthy…
Yes, their taxes probably went up, but if they didn't blow through the $100,000, they could have paid that. Then, an intelligent family would examine their finances and if they wouldn't be able to pay the taxes and utilities the following year, they should have sold the house.
Moon. it's not gift taxes ~ there is no such thing in a situation like this. It's a simple reassessment from the county of the "former" property to the new property as it looks after ABC TV gets done with it. And what triggers this is the almightly building permit. You have a building permit pulled and in most states/cities that authorizes the county to reassess the value of your home. The permitting indicates to the county that, Oh, we have some improvements going on here. And then the reassessment comes.
Re: lisa –
Seriously? I am sure no one just came to their door one day and offered them a second mortgage to finance their now defunct company, they went out and GOT ONE! honestly…its not the issue of the bank or mortgage company
As for the people whining about taxes…are you kidding me? we are talking like a few g's a year. Even at 4000 (which is utterly ridiculous for taxes) it would be like 333 a month….I assume most people with a full time job could afford that…an remember that is at 4000 which is not even likely
Re: moon – Why is it the families fault? Surely you jest. They had a big, freebie payday handed to them on silver platter. They chose to gamble their payday on the chance of yet bigger winnings. If they felt that they couldn't afford it, they could have sold it, downsized to a smaller, paid off home, banked the difference and lived off the bloody interest for the rest of their days, and lived like kings if they had jobs/incomes on top of that.They could have saved and financed their own business plan without risking their children's home and future; with no mortgage to pay, it would have been doable.
You can take the family out of the ghetto, but you can't take the ghetto out of the family. I hope a more deserving family buys this beautiful home and sends the Harper's back to a shack where they belong. Trash!
Disgusting. I bet that generous contractor never does another nice thing for anyone. What a slap in the face. With the housing market the way it is, he could probably use that $100K himself.
WHY CAN'T PEOPLE LIVE WITHIN THEIR MEANS???? THEY GOT A FREE HOUSE. THEY HAD NO MORTGAGE. THEY WERE GIFTED $100,000 AND NOW THEY ARE DEFAULTING ON A $450,000 LOAN. I do NOT even feel bad for them. I don't care what happened. If you are in a predicament where you qualify to get on Extreme Home Makeover, you get your house, then you think, oh, I'll take out a $450,000 loan to start a business, you deserve all you get. They should have sat on their home, saved their money, then started a business. What I wouldn't give to be mortgage free plus $100,000. I guarantee you I wouldn't be defaulting on any loans. SHAME shame on them. (And I don't want to hear from these bleeding hearts that "they couldn't help it" or "the housing market caused it" because this RIDICULOUS. THEIR HOUSE WAS FREE.
Greed is exactly what happened here along with poor spending habits.
Idiot family probably took multiple vacations, bought cars, etc etc. Crap they didn't need.
I hope the house does foreclose…… teach them a lesson that they can't just squander the gift that they were given.
Re: Hyde – word dude, how fucked up huh?!
They did a house in my city. It was located in a part of town where the surrounding houses were worth $80,000 tops. The house they built was a $400,000 home. The house across the street from it was a little shack. Didn't make much sense to me. They could have helped many families in that area instead of just one…..Ty was at the local bars every night. Even called my daughter, drunk, at 1 in the morning because a friend of hers asked him to. He says to her, "Hey, do you know who this is?" she says "Do you know what time it is?"
Oh, and all the people saying that the taxes went up, and cost of living, etc. Please. Don't care. They got $100,000. Was there a deathly ill family member with mounting medical bills? Doubt it. This is a simple case of people spending beyond their means and then blaming someone else for it. If you have NO MORTGAGE (which is the same as no rent or housing expense) PLUS $100,000 and you work (and watch, I guarantee, that comes out too) you should be able to afford taxes and utilities on a $500,000 WHICH WAS FULLY FURNISHED and COMPLETELY BRAND NEW.
So annoying.
I love the show, but I know a few people who knew one of the families who got a makeover.
I know alot fo those families are very deserving of the new homes they get, but some, not so much.
Like one family, I can't remember who it was, but the ppl that knew who they were called complete BS on what they were saying on the show.
The little organization that the family had, they had only set it up about a month before getting the makeover. All of their kids were considered to be idiots and bullies in school. The father had been to PRISON before. Yet on the show, they were painted to be freakin saints.
I don't think all the families are scammers, but of course others are which is very unfortunate.
Anyways… this family deserve to have their home taken away. The people here said it best. Put trash home in to a big house, they're still trash.
I mean seriously, how the hell does someone screw up something for free? AND getting 100k too?
This scenario is nothing new. Time after time, many huge Lottery winners (much more than this amount) go broke again and again after a couple of years, with their lives in worse shape than before they won in the first place. Not everyone is born with grey matter to spare. It is a bit of a slap in the face to honest, hard working people who could really use such a break, but they give it to 'poor' folks who are often not poor by accident.
Re: JJ – PROOF OF WHAT????????
Re: @v@ – LOL! YOU HAVE GOOD INFO FOR PEOPLE! BUYING A HOUSE IS MORE WORK THAN MOST PEOPLE THINK!
This is why celebrities and others with money should just do work with children or people in other countries. These people obviously needed a house, but ABC and EM are being blamed for building them one by some of you. Sounds like education would have been a better solution. You honestly just can't help some people. Even on a half million dollar house, the taxes alone should still be affordable. All this complaining about an act of charity is ridiculous. These people didn't manage their finances well at all. Just another act of generous charity gone down the tubes. You can't fix stupid……..
Re: moon – I would agree if ABC and Extreme Makeover didn't give them any money, but they got $100,000 and their first mortgage paid off!!! They had their house done 18 months ago. You don't pay $100,000 in 19 months in taxes. Hell, even NYC ain't got taxes like that. They used that house as an ATM on some bullshit business they didn't know how to run and now they may lose that house. I just hope ABC doesn't bail them out. It will set a precedent that ABC can't afford.
They were greedy bastard. Period.
LettyB - shut tfu you chola piece of crap.
A lot of the time, the reason some of these people are living in the horrible houses they had BEFORE the show, is because they are bad with money or lazy or -something-. It sn't just bad circumstance and chance that land these people where they are to begin with. Giving them a brand new house doesn't make them smarter people. What suprises me is that this hasn't already happened before! But you can bet that it will happen again
I knew that something like this would happen. For all the time and money invested in building these people a big home, it would have been better to build smaller decent less fancy homes and more families could have been helped. I stopped watching the show along time ago. The family put themselves in foreclosure. I don't think that the government should be helping these and many other people with their foreclosures. These people did it to themselves and knew what they were getting into when they went for sub prime and loans they knew they would never be able to afford.
I know a family and I know that They build houses too big for these families. Their taxes triple and their utilities go through the roof. Their monthly payments usually increase, despite no mortgage.
Its not necessarily the families, the show should be more modest.
What a fucking idiot. When someone builds you a dream home, pays off your previous mortgage then gives you $100,000 on top of that you don't go fucking it up & taking out a $450,000 second mortgage. Jesus Christ some people are stupid. That family that received the house basically just gave everyone who helped them a big "fuck you". Assholes!
Stupid nigs
No doubt they're Obama supporters.
I live in Iowa, and I heard the house they built here is trashed.
And we're supposed to feel sorry for these people? I think not.
Freaking crooks! ABC gave them 200k in addition to a brand-new house. They want to act like they won the lottery, they probably already spent all that $450k. I hope they lose everything!
It's probably because those houses that they build are so fucking huge that it's incredibly expensive to pay for utilities. I've heard that many of the families have sold the houses because they were too expensive to keep up.
these people are so fucking stupid. Gee, I wonder why they were living in a shithole to begin with!? maybe it's because they can't manager their finances and make poor decisions about what do do with their cash. idiots. They get a free house, a $100K GIFT and they squander it. Please, this is ridiculous!
Why does this come as such a surprise. While EMHE helps families that have dealt with loss and illness, they also "help" families who are just … poor.
If you give a poor person a million dollars do you think they'd know what to do with it? Would they invest smartly or go on a shopping spree?
It is the same with a giant house and a bunch of fancy electronics. ABC should teach the less affluent families how to handle their new "investment" so that they don't end up fucked in the end…this evidently isn't the first time something along these lines has happened to an EMHE winner.
Extreme Makeover did a rehab of a house a few towns over. A church donated the house. Within weeks the family blew all the $$ and then tried to sell the house.
This is not the first "extreme" home to have this issue. A few months ago the house in camden, nj was having issues too. Someone needs to do some serious follow up with these people.
Re: Carri – Are you freaking kidding me?! Your taxes are not going to go up THAT much if you are staying in the same spot. Tax rate is going to increase more by county/city. Plus, if you don't have any house payment, plus have an extra $100,000 cash to pay for your other bills/payments, what other things DO you have to pay for?
Live within your means, people.
Re: Nyssa – Ok, Extreme Home Makeover came on the air in 2003. I don't know when this specific home was done, but at the MOST 5 years ago. So, are you telling me that you think they spent $100,000 in 5 years just on energy bills and higher taxes?!
Common, let's think about this logically!
Stupid cunts didn't DESERVE such gifts! How the fuck do you go and squander away your home and money (especially when you have NO mortgage) like that?? I hope EHM doesn't do SHIT for them. Idiots. Hope it was fun while it lasted, now they can go sleep in a fucking car.
All these dumb fucks who have more house than they could handle (or afford) should NOT be getting any sort of government bail out. They should just get kicked out of their fucking overpriced homes they knew they couldn't afford and go fuck off.
That's why the poor are poor and stay poor.
Re: jm – I am in total agreement, Jim. My husband had a heart attack, and then was diagnosed with cancer, since March. If I hadn't re-financed the mortgage, we'd be screwed. AND, we live in Canada, believe it or not. I can't even imagine the nightmare of uninsured people in the States in our position.
Yeah Extreme Home makeover turned down a great family in Atlanta with 18 adopted children with down's syndrome for that family bet they fill like shit now!!!!!!!!!!!!
what dumb ass niggars….. no surprise though
ty is such a douch… and those people are retards… they get 100 THOUSAND dollars and spend it all in one year! ( okay, it's not that hard, but they're still retards) IDIOOOTS
If the house wasn't worth $450,000. why would the band loan them that much? Banks are in trouble now for being so stupid.
Re: lisa –
That is the best comment I have read so far. Who are the idiots who allowed them to take out a second mortgage? This family needs more than freebies. They need some financial counseling on how to spend the money they do have.
By the way, I love your name.
Poor money management. They were given a gift and it sounds like they blew it!
fukin idiotz
zzzzzzzzzzzzzz
didn't appreciate nothing
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maybe they should chooze more wizley
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
when picking people who dezerve a houze
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
THese people are idiots. People have been so generous to help them out and then they want more. Such greed!
This trash was given enough cash to pay property taxes for 25 years, but they went and took out a 2nd. I don't believe reports of a failed construction business. I think they wanted to buy more krap. They deserve to lose the home. I feel sorry for the other more deserving families in the area that applied and didn't get the free house.
Re: moon –
The family is at fault because, if you would have read the story, they took out a 450,000 loan and invested it in a company that failed. They didn't take out the loan to pay taxes. They risked their home on a bad bet basically. Dumb.
Re: stack – I totally agree with you! what idiots!!! They are getting what they deserve. I actually heard that they got the makeover because sewage would flood into their basement…umm, repairs much?
WOW I KNEW THEY WOULD BE BLACK!! LAZY!!!!!
Stupid as people. I'll bet they don't even work, just sit on their lazy bums and live of the mortage….
T.F.N.!!!!!
what the hell? $450,000.00 Home Equity Loan??? That means they were just being plain greedy and terribly stupid. Obviously they weren't too smart with their finances or there wouldn't have been a need for the Extreme Makeover to begin with. We need to stop helping stupid people with these shows. Seriously. Now people have to bail them out again? Because they have some stupid sob story? Ask enough people and you'll find someone who has it worse who doesn't walk around with their hand out. That just makes me so angry.
Karma
Everyone is talking about taxes, I live in NJ and I spend $11,000 a year just on taxes, I am not including my mortage, water, gas, heating oil and other living expenses. If I can pay all of my bills on my own, I am a Single Working Female and besides my 30 year mortage I have no debt, why can't they do it as well.