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The liberals keep harping on how the taxpayers must help homeowners who are facing foreclosure and have managed to convince the president to sign a huge and costly bailout bill. This is despite the fact that many if not most foreclosures are due to the financial mismanagement if not outright fraud on the part of the homeowner. Now comes this story from the AP.
LAKE CITY, Ga. — More than 1,800 people showed up to help ABC’s “Extreme Makeover” team demolish a family’s decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.
Three years later, the reality TV show’s most ambitious project at the time has become the latest victim of the foreclosure crisis.
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.
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.
Materials and labor were donated for the home, which would have cost about $450,000 to build. Beazer Homes’ employees and company partners also raised $250,000 in contributions for the family, including scholarships for the couple’s three children and a home maintenance fund.
What a sweet deal! And yet a new home scholarship money and a maintenance fund still couldn’t keep the family from financial ruin. Why did this family need a $450 k loan? To make the house larger or buy some fancy cars? Unbelievable! Next stop, welfare and more taxpayer dollars.
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About the author
Don Irvine is Chairman of Accuracy in Media. He is active on Facebook and Twitter. You can follow him @donirvine to read his latest thoughts.
4 Comments for Extreme Foreclosure
When ALL else fails, soak the Joe Blow citizens to float greedy lifestyles!
All the people I know that are losing thier homes is due to financial mismanagement. Which goes something like this, buy whatever you want including entertainment, vacations and cars. Another interesting fact, all but one are immigrants that have become American citizens.
I want to know why they didn’t bail out all the people that lost money during the Clinton stock market bubble? I guess they didn’t want to draw attention to another Clinton failure. He just didn’t raise taxes high enough to avert the disaster. We’ll see if the Democrats solution is to raise taxes on the rest of the country again.
Poor people are poor for a reason.