Thursday, July 24, 2008
Here's a wild one: The mini-mansion at right, which was built by the ABC reality show "Extreme Makeover" in 2005 as a gift to an Atlanta-area family, appears headed for foreclosure. How do you lose a house that someone gave you as a gift on national television? According to the Associated Press, the family that owns the house took a home loan against its value to start a construction business.
From Access Atlanta:
From Access Atlanta:
"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.
"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.
"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."
Labels: Extreme home foreclosure: House built for ABC show in foreclosure
posted by Avoid foreclosure, We buy houses, Stop foreclosure
@ 9:32 PM
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