'Extreme Makeover' house faces foreclosure - Yahoo! News

Seems the family took out a $450K loam (the value of the house) to start a business that failed. It's amazing to me how someone who was given something so precious would do something like that Your home and 100% of it's worth is not a chance to start a business. Maybe a small percentage but not 100%. You do not risk your home to start a business.

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Wow they just squandered it all away. If someone gave me a home free and clear I would be ever so gracious for the rest of my life and try my best to pay it forward to someone else. Its truly a shame and I thought there was a clause in their contracts they couldn't borrow against it.

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What ungrateful people! I wonder which one it was? I always watch the show. I'd like for them to do stories say, like a year or two later and see how the recipients of these homes have taken care of these homes.

Remember the one in Blacksburg, VA where they gave a new home and fixed up the dance studio of the woman who has MS? It was in the newspapers the other week that the landlord who owns the dance studio let the roof rot and it's damaged so bad, the city has condemned it right now. The woman has had to move her dance studio to another building and had to leave that beautiful studio behind. Right now, the owner of the building is facing some hefty fines, etc.

What a lot of people don't know about this show is that a lot of the owners have to sell their houses because they simply cannot afford them. The reassessment of taxes, bigger home bigger utility bills, etc.

Here are a few examples:

Extreme Makeover Homes for Sale! - The Home Front (usnews.com)

However, I do agree that what the family did in you example was poor judgment.

Kim

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If they know they can't afford it afterwards, then they shouldn't apply. PLUS, they have no mortgage after this is done. It's called planning -- they know the taxes, utility bills will be higher and if they don't have a mortgage and all the messes they had before, they should be able to afford it with some planning and budgeting. Like a poster said on another site -- you can give a person a new home, but you can't make them smart.

the people in this case ALSO received about $250K in scholarships for their kids and home maintenance money. Most of the time the people are given some extra money to help pay for the extra expenses like taxes, etc. I mean, if they GiVE you your home, you should be able to have enough money to pay taxes and bills. There were at least 2 adults who could work in this household and a 2 income household without a house payment should be able to make it work.

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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.

Why in the world would you "give" a family a house like that????

Geez, how about giving a number of deserving families a "normal" house instead of one family a ridiculously expensive house

That's what I think about the majority of these houses. Do all the kid's rooms need to have a theme that is done to the nines? How about a nice regular house, then, several more people could be given a house. That wouldn't attract viewers though.

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The themes are fun but I can't imagine the cost to "redo" those rooms when the theme isn't applicable. I mean, some of the little kids get fun *cool* beds and themes they will out grow in a couple years. Then a new twin bed needs to be bought as well as removing and redoing the rest of the theme. I have seen some of the neat cool things that I can't imagine fitting through a door. They would have to hire someone to take these things apart first...ugh

You are right. Normal houses to more people and you wouldn't have a watched program

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The house was in Atlanta, Georgia. Supposedly they borrowed against it so they could invest in a construction company... They made some poor choices. I also read that besides having the house paid for they were also given $10,000 spending money... all gone!!

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This is beyond poor judgment; more in lines of an over-inflated ego. Who would be willing to take on that kind of risk? So, they go from living in mansion to crap-sack rental? I guess they deserve it.

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It's been said that if you re-distributed all the wealth in the world and gave everyone equal amounts of money that within a couple of years the money would all be back where it started. This situation does seem to support that assertion.

I am one that believes that. If you gave everyone the same amount of money, in 5 years, just about everyone would be just where they are now. There will be a certain percentage who will do different but generally, I think it will be a wash and yes, this is a perfect example

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If they had any "constuction talent" then why was their original home so bad?
Sad case.

I do agree that they make the homes way too fancy.

This is why I have never watched this show. As "nice" as it is to do this for ppl, I just always thought it was way over the top and not really that helpful. I just never understood it. I wonder how all the other homeowners are doing?

Melissa

DH's favorite saying is...............

SOMETHING GIVEN FOR NOTHING IS WORTH NOTHING

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Ditto JM19...

I don't honestly know too many people that actually appreciate major things they are "given" (I'm talking things here like cars, houses, etc., although of course there are exceptions). Earning it seems to be the only way to go. I have seen so many young adults given large, expensive items like this and they never grow up, never learn to work, never save a dime, and generally live off of mom & dad all their life, etc.. I agree that while Extreme Makeover might have their heart in the right area and great intentions, they go wayyyy overboard with the finished product. Think about how many lavish houses they've built with falling down homes all around them in the same neighbothood. It's quite obvious that most of us in great circumstances couldn't 'maintain' the majority of these houses (whether by taxes, upkeep, repairs, utilities, etc.), I don't know how they think people with very limited income and resources are going to keep up with homes like that. If they are going to 'give' them houses, then give them a 'real' regular house and give them some sort of job training, etc., to get them back 'on their feet', etc., assign them to a life coach to guide them for a few years and see if they can help themselves change their own circumstances. Like I said, I do know that there are differing cases here (people with various disabilities, for example, that have done everything 'right' and still got the short stick that really do need the longterm help, etc.), and I'm totally sure that many recipients are 100% grateful and doing all they can to succeed in their 'new life'. Maybe it's time for the show to rethink their strategy a little.

good point!