Mortgage mess- this counts?

[volinbham]

Of course they got over their heads if they're getting foreclosed in a little over a year. And they already had a house to pass onto their kids if they had just left it alone. The thing here is that a family that had a fully paid off house and a nice full bank account is now joining the bunches of other people who made terrible financial decisions.

The funny part is that we are all going to end up paying for it! :dance2:

Agreed - also the American Dream isn't risk taking - it is building your future. They were given a house and cash - my guess is they don't have an appreciation of how to build something for the future if they were given a wonderful situation when things went bad.

I bet they now expect they will be bailed out again.

 

[615 Vol]

No boat missed here. They took a chance, made an investment and the investment isn't panning out. Happens all the time. Just saying that I don't particularly find any humor in it.





How much do you think houses are appreciating in today's market? If the business had been successful then they would not only have a house to pass on to their kids.


Maybe they did get in over their heads business-wise. Who knows? This story has to play out. I assume they still have the business which may be of some value (assets, etc.)

I just don't think it's right to take something that people gave to you as a gift and use it as collateral like that. I know ABC makes a ton of money off advertising for the show but it still involves your community volunteering their time and energy to build this house plus they probably had a petition full of signatures sent to ABC in order for them to come in the first place. It's not a good way to show your gratitude by even taking that risk.

 

[tennaseevol]

Agreed - also the American Dream isn't risk taking - it is building your future. They were given a house and cash - my guess is they don't have an appreciation of how to build something for the future if they were given a wonderful situation when things went bad.

I bet they now expect they will be bailed out again.

Bailed out again? Gezus people. Ever seen the show? In the few I've seen, they have built these houses for folks that are exceptional contributors to their communities that have had some sort of bad incident or tragedy occur within their family.

 

[allvol123]

Bailed out again? Gezus people. Ever seen the show? In the few I've seen, they have built these houses for folks that are exceptional contributors to their communities that have had some sort of bad incident or tragedy occur within their family.

Probably the most disturbing comment in this thread so far.

 

[UT IE 95]

Even so, risky move! Start small and work your way up. That way any hiccups could be absorbed along the way. Now they have overextended themselves and lost everything.

Just to play the devil side - maybe they had a successful small construction business when the market was booming. They took a big risk on expanding that business and the new construction market went belly up.

They gambled and lost, no doubt.

 

[allvol123]

they have built these houses for folks that are exceptional contributors to their communities that have had some sort of bad incident or tragedy occur within their family.

ABC chose the Harpers for a home makeover from 15,000 applicants after learning about the family's defective septic tank. Every time it rained, the tank would spew raw sewage into the home. The couple, married for 24 years, exhausted their savings trying to repair the tank. Patricia Harper is a homemaker. Milton Harper has his own home-security business

Now if that ain't some sh*t, they got picked because of a septic tank problem. I can understand why they chose to go into the construction business given their success of handling a septic tank problem.

Makeover goes to extremes | ajc.com

 

[tennaseevol]

Probably the most disturbing comment in this thread so far.

Busted!

But I swear it's only been a few (2). Well maybe 3.

 

[volinbham]

Bailed out again? Gezus people. Ever seen the show? In the few I've seen, they have built these houses for folks that are exceptional contributors to their communities that have had some sort of bad incident or tragedy occur within their family.

I don't know the history of this couple but did you see the picture of the house? It's friggin' huge!

Is building a 5000 square foot house, paying of the mortgage and a providing $100,000 in cash really how you help someone who had a tragedy?

Is it unrealistic to think that such large gifts do anything to help the recipient chase the American Dream? It's like someone who won the Lotto is chasing the American Dream.

 

[allvol123]

And an interesting quote from Mrs. Harper:

“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

Not sure what to make of that.

My opinion: there is a real risk in just giving relief to people and asking nothing in return. It is different if someone is in dire need - health or somekind of real tragedy.

 

[UT IE 95]

Now if that ain't some sh*t, they got picked because of a septic tank problem. I can understand why they chose to go into the construction business given their success of handling a septic tank problem.

I retract everything I posted defending them starting the construction business.

 

[tennaseevol]

I don't know the history of this couple but did you see the picture of the house? It's friggin' huge!

Is building a 5000 square foot house, paying of the mortgage and a providing $100,000 in cash really how you help someone who had a tragedy?

Is it unrealistic to think that such large gifts do anything to help the recipient chase the American Dream? It's like someone who won the Lotto is chasing the American Dream.

I agree the houses they build are very nice and have a lot of extras. For some it maybe it is unrealistic. I dunno?

I saw one monstrosity built for a family that took in orphans and had about 10 kids living in a 1200 sq ft house prior. To me, it made sense.

They built another for a family who lived on a farm in a shack that had just lost their father to cancer (he was the main bread winner). They built them a modest house (probably about 2500K sqft - 4 left in the family), but they also built a new extravagant barn and office and gave them some farm equipment to boot.

 

[VolsNSkinsFan]

A) I think this is a good sign that the Housing Market has bottomed

B) Does anyone know how dysfunctional Clayton County is?? The county that they live in is about to lose its Public School accreditation, the last time this happened in the USA was 25 years ago. That means if you are a rising senior in High School and you graduate, you degree is not recognized by any colleges. Basically come September when they officially lose their accreditation, the kids will have no point in going to school, and they will not qualify for HOPE. They will have to get their GED in order to go to college. The school board is so dysfunctional that they cant even make a decision to fix the problem. The best part is that when elections were held two weeks ago for new School Board members, they voted them all back in! Meanwhile home values have plumeted and the county has lost Billions in tax revenue and housing market caps. Very Sad Situation in CC. Oh yea, the police chief's son just got arrested for armed robbery for the 2nd time in months

Read about it here in the AJC

Clayton officials have plan to keep accreditation | ajc.com