Give a man a fish…

And he’ll take out a $450,000 loan on it.

LAKE CITY, Ga. – 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.

The house was built in January 2005, after Atlanta-based Beazer Homes USA and ABC’s “Extreme Makeover” demolished their old home and its faulty septic system. Within six days, construction crews and hoards of volunteers had completed work on the largest home that the television program had yet built.

The finished product was a four-bedroom house with decorative rock walls and a three-car garage that towered over ranch and split-level homes in their Clayton County neighborhood. The home’s door opened into a lobby that featured four fireplaces, a solarium, a music room and a plush new office.

Materials and labor were donated for the home, which would have cost about $450,000 to build. Beazer Homes’ employees and company partners also raised $250,000 in contributions for the family, including scholarships for the couple’s three children and a home maintenance fund.

ABC said in a statement that it advises each family to consult a financial planner after they get their new home. “Ultimately, financial matters are personal, and we work to respect the privacy of the families,” the network said.
“It’s aggravating. It just makes you mad. You do that much work, and they just squander it,” Lake City Mayor Willie Oswalt, who helped vault a massive beam into place in the Harper’s living room, told The Atlanta Journal-Constitution.

I suppose we’re supposed to feel sorry for them, huh? They got a 1/2 million dollar house and $250k for nothing.  

But it wasn’t enough. They had to take out a loan on the house – one which they couldn’t pay back.

And we’re supposed to feel sorry for them?

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One Comment

  1. Dan:

    I had to stifle a gag when I read the wire service copy describe the project as the “latest victim of the foreclosure crisis.” This has everything to do with human greed and stupisity and nothing to do with the subprime mortgage meltdown. This family got a windfall, gambled it and lost. I have no idea (and the story doesn’t bother to explain) if the business that was financed was poorly managed, in the wrong place at the wrong time or was a “victim” of the capitalist ogre of the week. TV programs like “Extreme makeover” are 21st century amplifications of the 1950s show “Queen for a Day” in which the biggest sob story got the prize. Any wonder that it attracts scoundrels, thieves and goldbricks who think they can get something for nothing?

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