SEC=UGA Posted July 25, 2008 Share Posted July 25, 2008 From extreme makeover to extreme foreclosure? Patricia and Milton Harper face foreclosure on their 'Extreme Makeover' home. A Clayton County family that got the area's first luxury remodeling job from the television show "Extreme Makeover: Home Edition" now faces foreclosure, according to television news reports. A foreclosure notice on the home in Lake City appeared last Friday, indicating that a $450,000 second mortgage the owners took out less than 15 months ago was in default, WSB-TV reported. Patricia Harper, the homeowner, told WSB she and her husband had struck a deal with Chase Home Finance to rescue their "extreme" home and that there will be no foreclosure auction. Chase said they couldn't confirm that claim. Harper told WSB 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. The home at 5489 Ahyoka Dr. has 5,500 square feet after the 2005 makeover, WGCL CBS46 reported. Lake City mayor Willie Oswalt was among the volunteers who helped build Harper's home 3 1/2 years ago, and Beazer Homes was the main sponsor. The mayor told WSB he is baffled. "Beazer gave them $100,000 cash, paid their mortgage off and they still can't make it," said Oswalt. Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted July 25, 2008 Share Posted July 25, 2008 There should have been some stipulation that they couldn't borrow against the home. Can these guys vote under your propsed plan?? Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 (edited) There should have been some stipulation that they couldn't borrow against the home. Can these guys vote under your propsed plan?? There is a whole different thread that relates to your second question... But for your edification, I'd have to think about it... I have always enjoyed the Extreme Makeover shows, I feel it is a great form of charity and try to support the sponsors as much as possible. I just can't believe that someone would make such a poor decision after having been given such an opportunity as no mortgage and 100K in cash... Edited July 25, 2008 by SEC=UGA Quote Link to comment Share on other sites More sharing options...
TimC Posted July 25, 2008 Share Posted July 25, 2008 They need an Extreme Intelligence Makeover show. Dumb people stay dumb no matter what you do for them. Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted July 25, 2008 Share Posted July 25, 2008 (edited) They need an Extreme Intelligence Makeover show. Dumb people stay dumb no matter what you do for them. How 'bout them Dawgs! J/K Dawg fans. Edited July 25, 2008 by The Holy Roller Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 How 'bout them Dawgs! J/K Dawg fans. I'm slow and don't understand Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 25, 2008 Share Posted July 25, 2008 (edited) I have always enjoyed the Extreme Makeover shows, I feel it is a great form of charity and try to support the sponsors as much as possible. I just can't believe that someone would make such a poor decision after having been given such an opportunity as no mortgage and 100K in cash... The show would be watchable if it focused more on construction than on crying. I can't watch it. If someone gave me 100K, I'd probably start a business too. You can't live forever off 100K, and I'd want to make a major investment in myself. I'd either launch an electric car company, or a chain of Noodles and Tokyo Joes franchises. Mmmm... foood. And... there's probably good odds that I'd go out of business, because I'm not a smart businessman. Edited July 25, 2008 by AtomicCEO Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 The show would be watchable if it focused more on construction than on crying. I can't watch it. If someone gave me 100K, I'd probably start a business too. You can't live forever off 100K, and I'd want to make a major investment in myself. I'd either launch an electric car company, or a chain of Noodles and Tokyo Joes franchises. Mmmm... foood. And... there's probably good odds that I'd go out of business, because I'm not a smart businessman. I do agree with you assertion regarding the crying... I realize you can't live forever on 100K, I also realize that I'm not going to put my house on the blocks to start a business, I'll find another way to do it. With that 100K they could have received a loan from the SBA for quite a bit, this IMO would have been smarter than mortgaging your house. Quote Link to comment Share on other sites More sharing options...
TheShiznit Posted July 25, 2008 Share Posted July 25, 2008 I do agree with you assertion regarding the crying... I realize you can't live forever on 100K, I also realize that I'm not going to put my house on the blocks to start a business, I'll find another way to do it. With that 100K they could have received a loan from the SBA for quite a bit, this IMO would have been smarter than mortgaging your house. Can I ask you a question.....is the SBA a private financing group or a group funded by the state and or federal government? Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 Can I ask you a question.....is the SBA a private financing group or a group funded by the state and or federal government? I believe Federal, not sure how much the state backs them. There is another thread for this argument, no? Quote Link to comment Share on other sites More sharing options...
TheShiznit Posted July 25, 2008 Share Posted July 25, 2008 I believe Federal, not sure how much the state backs them. There is another thread for this argument, no? Just a question....you might visit that thread to refine your position though....NO? Quote Link to comment Share on other sites More sharing options...
westvirginia Posted July 25, 2008 Share Posted July 25, 2008 They need an Extreme Intelligence Makeover show. Dumb people stay dumb no matter what you do for them. Good info here. Quote Link to comment Share on other sites More sharing options...
TDFFFreak Posted July 25, 2008 Share Posted July 25, 2008 There should have been some stipulation that they couldn't borrow against the home.Can these guys vote under your propsed plan?? Agreed. What a shame. Was this a case of greed or trying to honestly sieze an opportunity? Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 25, 2008 Share Posted July 25, 2008 They need an Extreme Intelligence Makeover show. Dumb people stay dumb no matter what you do for them. Old proverbs are old because they're true. Fools and their money are soon parted. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted July 25, 2008 Share Posted July 25, 2008 That's really too bad... not for the idiots that once again got themselves into trouble, but for all of the people that took the time to volunteer to make a dream come true for a family in need. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 That's really too bad... not for the idiots that once again got themselves into trouble, but for all of the people that took the time to volunteer to make a dream come true for a family in need. Good info here, also. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 25, 2008 Share Posted July 25, 2008 (edited) That's really too bad... not for the idiots that once again got themselves into trouble, but for all of the people that took the time to volunteer to make a dream come true for a family in need. Agreed. This kind of thing happens all the time though. To turn the proverb round, smart people and their money are rarely parted. Athletes, lottery winners, inheritors......the ability to retain and build on wealth is defined by intelligence. Edited July 25, 2008 by Ursa Majoris Quote Link to comment Share on other sites More sharing options...
westvirginia Posted July 25, 2008 Share Posted July 25, 2008 Agreed. This kind of thing happens all the time though. To turn the proverb round, smart people and their money are rarely parted. Athletes, lottery winners, inheritors......the ability to retain and build on wealth is defined by intelligence. No no! It's all luck! Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 25, 2008 Share Posted July 25, 2008 No no! It's all luck! Looks like I got into Edit mode just in time...... Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 Looks like I got into Edit mode just in time...... I saw it, but my lips are sealed... Quote Link to comment Share on other sites More sharing options...
westvirginia Posted July 25, 2008 Share Posted July 25, 2008 Looks like I got into Edit mode just in time...... I saw it, but my lips are sealed... Meh, bite me - both of you. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 Meh, bite me - both of you. YOu would have liked the initial post much better.. Quote Link to comment Share on other sites More sharing options...
detlef Posted July 25, 2008 Share Posted July 25, 2008 You can argue that borrowing against your home to start a business isn't sound logic (but I think that's a bit of an over sweeping claim). However, I do find it rather odd to hear conservatives claim that there should be some stipulation on how somebody can spend money that they won. I mean, it's their money, right? Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted July 25, 2008 Share Posted July 25, 2008 You can argue that borrowing against your home to start a business isn't sound logic (but I think that's a bit of an over sweeping claim). However, I do find it rather odd to hear conservatives claim that there should be some stipulation on how somebody can spend money that they won. I mean, it's their money, right? I don't have problems with people spending money they win however they want. Lottery, HGTV Dream house, etc... have at it. In this case I see it more as charity and good will betrayed. Spend the 100k however you like but don't risk your home that people went out of their way and made sacrifice to provide you. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 25, 2008 Author Share Posted July 25, 2008 You can argue that borrowing against your home to start a business isn't sound logic (but I think that's a bit of an over sweeping claim). However, I do find it rather odd to hear conservatives claim that there should be some stipulation on how somebody can spend money that they won. I mean, it's their money, right? Good point. But, since this is charitable work, I worry that this could inhibit others from being so kind in the future... I don't want to see other people penalized because some jack ass decided to "capitalize" on other's kindness. Quote Link to comment Share on other sites More sharing options...
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