Woman Faces Foreclosure on House She Bought for $1

Avatard · 09-12-2011, 11:04 AM

We all know the housing crisis narrative: Back in the go-go days of the boom, someone bought a house they couldn't really afford, financed it with a "creative" mortgage and proceeded to use the place like a piggy bank, on the theory that home values would remain forever up in the stratosphere. Then the housing market crashed, the bills came due and now many of those homeowners are staring down foreclosure.

It's a story we've heard so many times we can practically recite it by heart.

Well, Linda Hatchell didn't do any of those things. In fact, Hatchell paid just $1 for her home in Glen Ellyn, Ill. Yet today she's on the brink of losing it, reports NBC Chicago.

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09-12-2011, 11:04 AM	#1
Avatard Crotch Rocket Curmudgeon Join Date: Nov 2008 Location: Here to integrity Moto: Li'l red baby Ninja Posts: 7,482	Woman Faces Foreclosure on House She Bought for $1 We all know the housing crisis narrative: Back in the go-go days of the boom, someone bought a house they couldn't really afford, financed it with a "creative" mortgage and proceeded to use the place like a piggy bank, on the theory that home values would remain forever up in the stratosphere. Then the housing market crashed, the bills came due and now many of those homeowners are staring down foreclosure. It's a story we've heard so many times we can practically recite it by heart. Well, Linda Hatchell didn't do any of those things. In fact, Hatchell paid just $1 for her home in Glen Ellyn, Ill. Yet today she's on the brink of losing it, reports NBC Chicago. More... __________________ Insert free thought here.