Another Extreme Home Makeover Family Faces Foreclosure

LeeNetworX · 12-01-2009, 06:24 PM

http://tv.yahoo.com/blog/another-ext...reclosure--834

I think it's cool when they help out families that have done good and truly need help, but it seems they need to give some of them access to a financial planning expert in addition to the homes and paying off their debts.

Flexin · 12-01-2009, 06:37 PM

"ABC is probably considering changing the show's rules (maybe the houses don't need to be quite so lavish, for example) to help avoid such disasters in the future."

I think this is bs. I don't find the houses are "lavish" some of the families are just too big. On some of the shows they still have kids sharing a room. Plus its free so why does it matter what it cost. They say that they give them money to pay taxes for 25 years. At that point the kids should be out of the house and then they can sell the house and buy something smaller if needed.

A "financial planning expert" is a great idea. Some are still going to fuck up, but they might have a higher level of sucess.

James

Gas Man · 12-02-2009, 03:31 AM

Well when you let them take out a 450k home equity... jackasses! They deserve to get forclosed.

Not sure about this one but they speak about others in that article.

Ineffable · 12-02-2009, 03:48 AM

Quote:

Originally Posted by Gas Man

Well when you let them take out a 450k home equity... jackasses! They deserve to get forclosed.

Not sure about this one but they speak about others in that article.

I completely agree, I don't know the whole story but I imagine the other family blew the money on stupid shit. Honestly, if you are intelligent or even have some kind of vague plan not sure how you can blow 450k of seed money. As for this family I feel a bit more sympathetic. If they had a shitty mortgage to begin with I can see this happening, on the flip side though they should have been able to refinance or pull out a loan using the house as equity to pay off the old mortgage (refinancing in a different way).

CasterTroy · 12-02-2009, 08:28 AM

How many lottery winners are now homeless?

Money doesn't solve your problems

Bluestreak · 12-02-2009, 08:51 AM

Quote:

Originally Posted by CasterTroy

How many lottery winners are now homeless?

Money doesn't solve your problems

Truth!

EpyonXero · 12-02-2009, 08:46 AM

I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.

Papa_Complex · 12-02-2009, 08:50 AM

Quote:

Originally Posted by EpyonXero

I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.

In this case, as in another well publicized one, the family took out a second mortgage for far more than they could afford. When someone tries to turn an act of charity (no matter how self serving) into a payday, I have a great deal of difficulty giving the least little shit.

CrazyKell · 12-02-2009, 12:37 PM

Quote:

Originally Posted by Papa_Complex

In this case, as in another well publicized one, the family took out a second mortgage for far more than they could afford. When someone tries to turn an act of charity (no matter how self serving) into a payday, I have a great deal of difficulty giving the least little shit.

Me too!

Quote:

Originally Posted by EpyonXero

I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.

I thought so too. I don't watch the show but I just assumed they were given it.

Gas Man · 12-02-2009, 12:41 PM

Quote:

Originally Posted by goof2

I agree. Habitat for Humanity is charity, but the families still end up with a mortgage on their house, even though it is at a low interest rate and with no profit on the house. They are supposed to put in some work building the house and take classes concerning money management and homeownership. The houses are basic as well. Because of what the families have to go through to get the house their foreclosure rate is claimed to be at or below 2%.

Yeah... but why send them to classes when you can send them to Disney!

12-01-2009, 06:24 PM	#1
LeeNetworX SFL Expatriate #1 Join Date: Nov 2008 Location: ATL Burbs Moto: '09 Triumph Speed Triple Posts: 4,712	Another Extreme Home Makeover Family Faces Foreclosure http://tv.yahoo.com/blog/another-ext...reclosure--834 I think it's cool when they help out families that have done good and truly need help, but it seems they need to give some of them access to a financial planning expert in addition to the homes and paying off their debts.

12-01-2009, 06:37 PM	#2
Flexin AMA Supersport Join Date: Nov 2008 Location: Halifax, Nova Scotia Posts: 2,698	"ABC is probably considering changing the show's rules (maybe the houses don't need to be quite so lavish, for example) to help avoid such disasters in the future." I think this is bs. I don't find the houses are "lavish" some of the families are just too big. On some of the shows they still have kids sharing a room. Plus its free so why does it matter what it cost. They say that they give them money to pay taxes for 25 years. At that point the kids should be out of the house and then they can sell the house and buy something smaller if needed. A "financial planning expert" is a great idea. Some are still going to fuck up, but they might have a higher level of sucess. James __________________ "Bust a nut inside your eye, to show you where I come from" "f youre horny, lets do it, Ride it, my pony, My saddles waitin, Come and jump on it, If youre horny, lets do it" "I'm not a playa I just fuck a lot" "Round two, I'm down to Do, what it takes to make you Understand I'm the Candyman And I melt in your mouth, not in your hands Hard as rock, yes I'm no sucka The boots I knock make me one bad mutha"

12-02-2009, 03:31 AM	#3
Gas Man Trip's Assistant Join Date: Feb 2008 Location: Imported from Detroit Moto: 2009 HD Street Classic Posts: 12,149	Well when you let them take out a 450k home equity... jackasses! They deserve to get forclosed. Not sure about this one but they speak about others in that article. __________________ -Chris "Why pay somebody else to fuck up your bike?" Run Amsoil Product

12-02-2009, 08:28 AM	#5
CasterTroy ................ Join Date: Nov 2008 Location: NC Posts: 3,028	How many lottery winners are now homeless? Money doesn't solve your problems __________________ “Being tolerant does not mean that I share another one’s belief. But it does mean that I acknowledge another one’s right to believe, and obey, his own conscience.” Viktor Frankl

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12-02-2009, 08:46 AM	#7
EpyonXero AMA Supersport Join Date: Nov 2008 Location: Redneck Riviera, FL Moto: 2003 VFR800f6 Posts: 2,531	I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.