Another Extreme Home Makeover Family Faces Foreclosure

[LeeNetworX]

http://tv.yahoo.com/blog/another-extreme-makeover-home-edition-family-facing-foreclosure--834

I think it's cool when they help out families that have done good and truly need help, but it seems they need to give some of them access to a financial planning expert in addition to the homes and paying off their debts.

[Flexin]

"ABC is probably considering changing the show's rules (maybe the houses don't need to be quite so lavish, for example) to help avoid such disasters in the future."

I think this is bs. I don't find the houses are "lavish" some of the families are just too big. On some of the shows they still have kids sharing a room. Plus its free so why does it matter what it cost. They say that they give them money to pay taxes for 25 years. At that point the kids should be out of the house and then they can sell the house and buy something smaller if needed.

A "financial planning expert" is a great idea. Some are still going to fuck up, but they might have a higher level of sucess.

James

[Gas Man]

Well when you let them take out a 450k home equity... jackasses! They deserve to get forclosed.

Not sure about this one but they speak about others in that article.

[Ineffable]

Well when you let them take out a 450k home equity... jackasses! They deserve to get forclosed.

Not sure about this one but they speak about others in that article.

I completely agree, I don't know the whole story but I imagine the other family blew the money on stupid shit. Honestly, if you are intelligent or even have some kind of vague plan not sure how you can blow 450k of seed money. As for this family I feel a bit more sympathetic. If they had a shitty mortgage to begin with I can see this happening, on the flip side though they should have been able to refinance or pull out a loan using the house as equity to pay off the old mortgage (refinancing in a different way).

[CasterTroy]

How many lottery winners are now homeless?


Money doesn't solve your problems

[EpyonXero]

I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.

[Papa_Complex]

I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.

In this case, as in another well publicized one, the family took out a second mortgage for far more than they could afford. When someone tries to turn an act of charity (no matter how self serving) into a payday, I have a great deal of difficulty giving the least little shit.

[Bluestreak]

How many lottery winners are now homeless?


Money doesn't solve your problems

Truth!

[Apoc]

Fuck em....

The guy is a doctor?????? What the fuck does a doctor need with a free house? 8 kids or not.

[goof2]

Fuck em....

The guy is a doctor?????? What the fuck does a doctor need with a free house? 8 kids or not.

In order to get on that show the people usually have to be do gooders. He probably works exclusively with destitute retarded orphans so he makes less than a barista at Starbucks. While I think helping the less fortunate is honorable, maybe he should switch his focus to something that will pay enough for him to keep a roof over his own gaggle of shit factories.:shrug:

[tommymac]

In order to get on that show the people usually have to be do gooders. He probably works exclusively with destitute retarded orphans so he makes less than a barista at Starbucks. While I think helping the less fortunate is honorable, maybe he should switch his focus to something that will pay enough for him to keep a roof over his own gaggle of shit factories.:shrug:

Plastic surgeon FTW :lol:

[Rider]

See what happens when you GIVE money to people. You have to earn it to respect it.

[Particle Man]

You know, I've always wondered what these new castles does to the property taxes... give a poor family a new house and pay off their debts... cool. But what about maintenence costs and the increase in property taxes once the place is reassessed?

[z06boy]

I always wondered how the people in many of these cases survived after the show was over considering what some of them lived in before it was torn down and rebuilt. Some of them lived in a pigsty so I can only imagine what their place would look like after a matter of time.

I also wondered even if the mortgage was paid off...how would they even afford the utilities since some of them have much bigger places to take care of now.

This doesn't apply to all of them because some of them really are good people that just needed help and I'm glad to see them get it.

I do find it crazy that they are allowed to run out and get a $450k mortgage using their house that was given to them when they couldn't even afford what they had before...doesn't really make much sense.

[goof2]

See what happens when you GIVE money to people. You have to earn it to respect it.

I agree. Habitat for Humanity is charity, but the families still end up with a mortgage on their house, even though it is at a low interest rate and with no profit on the house. They are supposed to put in some work building the house and take classes concerning money management and homeownership. The houses are basic as well. Because of what the families have to go through to get the house their foreclosure rate is claimed to be at or below 2%.

[goof2]

I always wondered how the people in many of these cases survived after the show was over considering what some of them lived in before it was torn down and rebuilt. Some of them lived in a pigsty so I can only imagine what their place would look like after a matter of time.

I also wondered even if the mortgage was paid off...how would they even afford the utilities since some of them have much bigger places to take care of now.

This doesn't apply to all of them because some of them really are good people that just needed help and I'm glad to see them get it.

I do find it crazy that they are allowed to run out and get a $450k mortgage using their house that was given to them when they couldn't even afford what they had before...doesn't really make much sense.

What aspect of the mortgage lending industry has made much sense in the last 15 or 20 years? At least the Extreme Makeover people had actual equity in their houses. Compare it to people who bought a house with no down payment, then a year or two later take out an "equity" loan because "the market is up!". It makes the Extreme Makeover people look like safe bets.

[z06boy]

What aspect of the mortgage lending industry has made much sense in the last 15 or 20 years? At least the Extreme Makeover people had actual equity in their houses. Compare it to people who bought a house with no down payment, then a year or two later take out an "equity" loan because "the market is up!". It makes the Extreme Makeover people look like safe bets.

Oh I don't disagree with anything you said about the mortgage industry and I wasn't talking about the bank taking a risk since they would have equity...my question was more related to the fact that it should be obvious that they most likely were not going to be able to pay $450k back since they couldn't even afford a decent place to begin with.

I 'assumed' that when the house was given to them it may have been written in the contract restricting this to some degree...that's all. :idk:

To me that's more than just appreciating what they've done for you...that's taking advantage of the system imho.

[fasternyou929]

See what happens when you GIVE money to people. You have to earn it to respect it.

If only they knew to carry a $10 balance on their credit cards... :lol:

[tommymac]

If only they knew to carry a $10 balance on their credit cards... :lol:

Well done on the thread crossover :lol:

Tom

[LeeNetworX]

If only they knew to carry a $10 balance on their credit cards... :lol:

http://icantstudy.files.wordpress.com/2009/03/flawless-victory.png?w=400&h=254

[Papa_Complex]

In order to get on that show the people usually have to be do gooders. He probably works exclusively with destitute retarded orphans so he makes less than a barista at Starbucks. While I think helping the less fortunate is honorable, maybe he should switch his focus to something that will pay enough for him to keep a roof over his own gaggle of shit factories.:shrug:

There's a reason why flight attendants tell parents that in case of emergency they should put their own air mask on, before tending to their children.

[Rider]

If only they knew to carry a $10 balance on their credit cards... :lol:

If only you knew how to shut the fuck up. :gofurslf:

[CrazyKell]

In this case, as in another well publicized one, the family took out a second mortgage for far more than they could afford. When someone tries to turn an act of charity (no matter how self serving) into a payday, I have a great deal of difficulty giving the least little shit.

Me too!

I assumed that those houses were paid for and didnt have a mortgage. I thought all the families were paying for were taxes and utilities.


I thought so too. I don't watch the show but I just assumed they were given it. :idk:

[Gas Man]

I agree. Habitat for Humanity is charity, but the families still end up with a mortgage on their house, even though it is at a low interest rate and with no profit on the house. They are supposed to put in some work building the house and take classes concerning money management and homeownership. The houses are basic as well. Because of what the families have to go through to get the house their foreclosure rate is claimed to be at or below 2%.

Yeah... but why send them to classes when you can send them to Disney! :td:

[CrazyKell]

Bit of a threadjack but I heard that Habitat for Humanity also has a forced religious component. This I'm not in support of. But I suppose if I were in the families position I'd suck it up and do it anyways.

[Gas Man]

Never heard that... but hey. Whatever. Its mostly for free so suck it up I suppose.

[Apoc]

Bit of a threadjack but I heard that Habitat for Humanity also has a forced religious component. This I'm not in support of. But I suppose if I were in the families position I'd suck it up and do it anyways.


I could be mistaken, but I do believe that this was challenged in court a few years ago, and overturned. Discrimination, plain and simple.

[shmike]

I could be mistaken, but I do believe that this was challenged in court a few years ago, and overturned. Discrimination, plain and simple.


They are a Christian organization and have never claimed otherwise.

Being Christian or converting to Christianity is not a requirement to receive assistance from H4H.

How are partner families selected?

Families in need of decent shelter apply to local Habitat affiliates.
The affiliate’s family selection committee chooses homeowners based on their level of need, their willingness to become partners in the program and their ability to repay the loan.
Every affiliate follows a nondiscriminatory policy of family selection.
Neither race nor religion is a factor in choosing the families who receive Habitat houses.

[CasterTroy]

They are a Christian organization and have never claimed otherwise.



Yep...just boring ole Christians

http://incredimazing.com/static/media/2009/11/30/B4a48c16c6d9a1cb6198201e4b31b826/b4a48c16c6d9a1cb6198201e4b31b826.jpg

[pauldun170]

Yep...just boring ole Christians

http://incredimazing.com/static/media/2009/11/30/B4a48c16c6d9a1cb6198201e4b31b826/b4a48c16c6d9a1cb6198201e4b31b826.jpg

:lol

You should be banned though for posting that as it offends Wiccans and Scientologists

[Papa_Complex]

:lol

You should be banned though for posting that as it offends Wiccans and Scientologists

I also don't see gay Zoroastrians on the list. Freddy Mercury is rolling over in his grave.

[goof2]

Yeah... but why send them to classes when you can send them to Disney! :td:

Maybe they should have a financial counselor dress up as Mickey or something and sit them down for a couple hours. Either way it seems some of these people think they hit the lotto and act accordingly.

[goof2]

Bit of a threadjack but I heard that Habitat for Humanity also has a forced religious component. This I'm not in support of. But I suppose if I were in the families position I'd suck it up and do it anyways.

As others have stated this isn't true if you believe Habitat's statements. They are a Christian organization but neither their supporters nor their beneficiaries are required to go along with it. I can't say it would bother me too much if they did have that requirement either since whatever they are doing seems to be working.:shrug:

[Papa_Complex]

As others have stated this isn't true if you believe Habitat's statements. They are a Christian organization but neither their supporters nor their beneficiaries are required to go along with it. I can't say it would bother me too much if they did have that requirement either since whatever they are doing seems to be working.:shrug:

I agree that they don't have that requirement, that they are effective, and I donate to them on occasion. I also tend to think that if they had such requirements, then they would be somewhat less..... Christian.

[CrazyKell]

As others have stated this isn't true if you believe Habitat's statements. They are a Christian organization but neither their supporters nor their beneficiaries are required to go along with it. I can't say it would bother me too much if they did have that requirement either since whatever they are doing seems to be working.:shrug:

As others have stated and cleared up.....I wasn't aware. Maybe if they were like that before and aren't now...I don't know. Good to know though. :idk:

[Apoc]

As others have stated and cleared up.....I wasn't aware. Maybe if they were like that before and aren't now...I don't know. Good to know though. :idk:


Ive heard it before too kell.

Possibly it was in the past. Or perhaps it was a Canadian HfH thing.

[CrazyKell]

Ive heard it before too kell.

Possibly it was in the past. Or perhaps it was a Canadian HfH thing.

Ya maybe. Crazy Canucks. :lol:

[goof2]

I agree that they don't have that requirement, that they are effective, and I donate to them on occasion. I also tend to think that if they had such requirements, then they would be somewhat less..... Christian.

I wouldn't speculate on that. What I will speculate on is having such a requirement would alienate a lot of potential donors of both time and money making them somewhat less effective.