Extreme Foreclosure

Derek Pierce — Tue, 29 Jul 2008 13:41:47 +0000

I ran across this story this morning about how a family that was part of Extreme Home Makeover is now facing foreclosure. However, I get so sick and tire of people claiming to be the victim of the ‘foreclosure crisis’. This isn’t a victim of the current foreclosure crisis, this is a victim of ‘Exteme Ignorance’.

According to the paper, this couple used the home as collateral to borrow $450,000 for a construction business that failed. This doesn’t even take into consideration that over $250K was also donated to the family and their 3 kids for scholarships.

In most cases, regardless how much you help a homeowner out, how much you risk to bail their ass out of a sling – they’ll end up in the same position within time.

Here’s the story if you’re interested:

http://news.yahoo.com/s/ap/20080728/ap_en_tv/tv_extreme_makeover_foreclosure

Real Estate Investing» extreme home makeover

Extreme Foreclosure