'Extreme Makeover' house faces foreclosure

[dkf]

More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

Three years later, the reality TV show's most ambitious project at the time has become the latest victim of the foreclosure crisis.

After the Harper family used the two-story home as collateral for a $450,000 loan, it's set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed.

http://apnews.myway.com/article/20080728/D92712Q8Q.html

Sometimes it is the homeowners fault...

[Whoa_Nelly]

1. Pic of that home

More photos and family article here:
http://realitytv.about.com/od/extrememakeoverhome/ss/HarperMakeover.htm

[hopewell1985]

2. they call it

preditory lending

[SurfingAtWork]

3. I may be a heartless bastard for feeling this way, but if these people

end up on the street they have nobody to blame but themselves. They recieved this house for FREE. Rather than take this once in a lifetime gift, they foolishly squandered it by using it as collateral for a loan.

[OPERATIONMINDCRIME]

4. What A Bunch Of Morons.

[charlie]

5. Construction business?

That's a really weird choice of profession for someone who couldn't maintain their original home.

[lumberjack_jeff]

6. Right. I'm also thinking $450k is a lot of hammers and saws.

I suspect by "construction business" what they really mean is "developer".