'Extreme Makeover' Home in Foreclosure
You know that show Extreme Makeover: Home Edition, where needy families get luxurious new homes from ABC's enthusiastic team of do-gooders?
Turns out things don't always end up happily ever after...
From accessAtlanta, via the Real Estate Bloggers:
Things couldn't look better three years ago for Milton and Patricia Harper of Lake City, who giddily accepted the keys to a small castle, plus enough money to pay taxes on it for 25 years.
Now, the Clayton County house that "Extreme Makeover: Home Edition" built is a two-story, turreted example of how things can go wrong. It's in foreclosure.
The Harpers used the house at 5489 Ahyoka Drive as collateral for a $450,000 loan, Clayton County mortgage records show. Records at the law firm handling foreclosures for the lender, JPMorgan Chase Bank, say it is in foreclosure. The four-bedroom house with decorative rock walls and a three-car garage is scheduled for auction on the Clayton County Courthouse steps Aug. 5.
The Harpers, who declined interview requests when reporters knocked on their door Friday, told WSB-TV they got the loan for a construction business that failed.
Tags: housing market | foreclosures
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Reader Comments
ubeliveable
this is so redicoulous.These people got a house for free and then got a mortgage on it for a business.I have no symphathy for these people as they dug their own grave.They could have gotten a regular business loan and put some other colateral also they must have had an income before and did not have a mortgage payment at the time.NUMBER ONE RULE IN BUSINESS NEVER USE YOUR DAM HOUSE!
Who and What did the home go for
I know the home went to auction, but who bought the home and for how much?
Thanks for making me see clearly
When I first read the article, I fell into the typical media trap of believing emotionally what the writer leads you to feel. Thanks to Eric and Mike for seeing beyond the bitter content supplied, and feeling compassion no matter what the circumstance. Because case in fact is...we as readers do not know the full story, only what the writer & editor indulge. I will hopefully keep a like open mind in future readings!
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