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.

More...

fatbuckRTO · 09-12-2011, 11:17 AM

Pure, utter, unadulterated, crap.

She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap.

They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself.

Homeslice · 09-12-2011, 11:25 AM

Quote:

Originally Posted by fatbuckRTO

Pure, utter, unadulterated, crap.

She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap.

They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself.

Smittie61984 · 09-12-2011, 10:32 PM

Quote:

Originally Posted by fatbuckRTO

I don't want to watch the video...

You should. It shows some spiffy pictures of a house move. Those aren't exactly cheap.

The comments make me sick. Dumb bitch needs to sell and move into an apartment. THen she can deal with her cancer and medical bills.

shmike · 09-12-2011, 11:18 AM

Why do you post stupid shit like this?

101lifts2 · 09-13-2011, 01:23 AM

Quote:

Originally Posted by shmike

Why do you post stupid shit like this?

He's retarded.

How much can you possibly owe for 1 year left? 12 grand?

goof2 · 09-13-2011, 08:20 AM

Quote:

Originally Posted by 101lifts2

He's retarded.

How much can you possibly owe for 1 year left? 12 grand?

It could be she has a massive balloon payment due at the end.

Avatard · 09-13-2011, 12:02 PM

Quote:

Originally Posted by 101lifts2

He's retarded.

Maybe you missed it. I thought the article was ridiculous. Over-leveraged is over-leveraged. I posted it because this kinda shit is getting old. Journalism is dead. The static is so loud anymore online (and the TV shit is far worse) that the signal-to-noise ratio on what the fuck rationally even matters is truly confounded.

No one reports the fucking news anymore. It's all editorialized, if not outright "sensationalized" [read: made the fuck up] anymore.

Blogs helped decentralize the monopolies, but wiped out all fact-checking and accountability.

...and how about a little more good news for a change? News about how people can get together to effect change. It doesn't all have to be just death and killing, and weather.

It's all just theater anymore. Who can scream the loudest. Write the most sensational headline ($1 house?[...no, it's the thousands you leveraged])...even if it isn't true.

...and while I'm on this rant, let me give a dishonorable mention to Viacom, and their non-stop death stream of teen mental disorder.

WTF?, Over.

Avatard · 09-12-2011, 11:21 AM

lol...maybe it's the devil's advocate in me.

Sometimes spin makes my head fucking spin.

My TV is off most of the time anymore. I'm probably gonna end up dropping cable...

shmike · 09-12-2011, 11:26 AM

Quote:

Originally Posted by Avatard

My TV is off most of the time anymore. I'm probably gonna end up dropping cable...

I'm in the same boat.

I think about it each time the bills comes in.

The only reason I haven't pulled the trigger is that I know that as soon as I do, I'll get that perfect day when I really want to do is veg in front of the tube.

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.

09-12-2011, 11:17 AM	#2
fatbuckRTO This is not the sig line. Join Date: Dec 2008 Moto: Be prepared. What? Oh, moto... Posts: 1,279	Pure, utter, unadulterated, crap. She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap. They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself. __________________ This was no time for half measures. He was a captain, godsdammit. An officer. Things like this didn't present a problem for an officer. Officers had a tried and tested way of solving problems like this. It was called a sergeant. -Terry Pratchett, Guards! Guards!

09-12-2011, 11:18 AM	#5
shmike Follower Join Date: Nov 2008 Posts: 5,549	Why do you post stupid shit like this? __________________ Racing For Smiles

09-12-2011, 11:21 AM	#9
Avatard Crotch Rocket Curmudgeon Join Date: Nov 2008 Location: Here to integrity Moto: Li'l red baby Ninja Posts: 7,482	lol...maybe it's the devil's advocate in me. Sometimes spin makes my head fucking spin. My TV is off most of the time anymore. I'm probably gonna end up dropping cable... __________________ Insert free thought here.