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Title: Extreme Makeover: Foreclosure Edition Post by: lizandjer on July 31, 2008, 12:56:57 AM An Atlanta home built by the ABC hit Extreme Makeover: Home Edition is in foreclosure after the family who received the home as a gift took out a $450k loan against it to start a business which quickly failed.
I've always been concerned the show was giving people more home than most would be able to service or afford in the long run. My concern was with the utilities and tax payments, but it appears ABC provides a cash gift to cover those expenses. It never crossed my mind that the families might quickly cash out all the equity and default. Sad opportunity wasted. Extreme Makeover Home in Foreclosure (http://latimesblogs.latimes.com/laland/2008/07/extreme-home-fo.html)
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