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Nothing extreme about this foreclosure

July 28th, 2008 Categories: Real Estate News, San Diego County Fixer of the Week, San Diego county Real Estate News

Georgia– Back in 2005, 1800 volunteers and ABC’s Extreme Home Makeover, built the Harper family of Georgia a 4 bedroom 5000+ square foot mansion free of charge. The company, Beazer Construction, also paid off the families mortgage and gave them $100,000.

Well the mansion must not have been enough for the Harpers or the 100k, because the Harpers are now facing foreclosure. Besides the 100K the Harpers took out to separate new loans for $125,000 and $450,000. So their ‘income’ in 3.5 years was a mere $625,000 and now they’re broke.

A foreclosure notice appeared last Friday, a $450,000 second mortgage they took out less than 15 months ago was in default…. Lake City mayor Willie Oswalt was among the 1,800 volunteers helping “Extreme Makeover: Home Edition” build the Harper’s new home 3 ½ years ago. Beazer Homes of Atlanta was the main sponsor. The mayor said he is baffled.

“Beazer gave them $100,000 cash, paid their mortgage off and they still can’t make it,” said Oswalt.  Harper told Channel 2 they invested the loan proceeds in a construction business and the business hasn’t been good. She didn’t say how much of the money is left.
“What’s going to happen is instead of keep paying my mortgage, I’m going to take my money and not pay my mortgage because I’m being harassed,” said Harper.– GeorgiaBankrutcyblog.com

As bad as this is, they really did nothing different then millions of homeowners across the nation. House as ATM. Additionally this is not the first home built by the show that has been foreclosed on.

This entry was posted on Monday, July 28th, 2008 at 6:09 pm and is filed under Real Estate News, San Diego County Fixer of the Week, San Diego county Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Comments »

Cat Island Bahamas Real Estate said:
I enjoyed this post.
Thank you so much.
Nassau Bahamas Real Estate
# 28 July 2008 at 9:14 pm
So you want to buy a foreclosure? said:
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# 6 August 2008 at 3:20 pm

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