Family Loses 'Extreme Makeover' Home To Foreclosure For STUPIDITY

Discussion in 'Current Events' started by Paulie, Jul 30, 2008.

  1. Paulie
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    Paulie Gold Member

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    'Extreme Makeover' Home in Foreclosure - The Home Front (usnews.com)

    I remember seeing this episode, actually. Not just the TV show's crew, but a massive amount of volunteers, including the city's mayor, helped build the home for this family in 6 days, after they demolished their old home and faulty septic system.

    I can't believe these idiots had the audacity to take something like this gift given to them for free, and mortgage all that money against it.

    Editec, this is just one shining example of fiscal stupidity in this country. $450,000???? Are you fucking kidding me??

    Fucking MORONS.

    Hey, let's bail them out for the SECOND time, what do you think? I volunteer my tax dollars. Anyone else with me?
     
  2. Ravi
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    Ravi Gold Member

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    What was the market price of the house estimated at?
     
  3. busara
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    busara wanasiasa wapumbava

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    i was making fun of these people yesterday. they made an extremely stupid decision and are paying the price for it (losing their house). but it is being made out to be a tragedy. ughh
     
  4. Jeepers
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    Jeepers Senior Member

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    I cant fault em for trying to make a better life... maybe next time they'll put a little more thought into it...
     
  5. manifold
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    manifold Gold Member

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    Anyone know which ethnic group this guy represents?


    Just curious, that's all.
     
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  6. Ravi
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    Ravi Gold Member

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    Right? I'm not sure why the great Libertarian Pauli is slamming them all over the place.
     
  7. Paulie
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    Paulie Gold Member

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    You've got to be kidding. These people were given a brand new house for free, with the sweat of many volunteers from the community helping out graciously, to get the project done in 6 days.

    They turn around and mortgage the property to take a business risk for $450,000. Not $10,000, not $50,000 even, but somewhere in the neighborhood of the house's entire value.

    That's not only disrespectful to the people who busted their ass for that family, it's also fiscally ignorant and STUPID.

    In a time when people are losing their homes when they are actually TRYING to keep afloat, these people squander something GIVEN to them, that so many people are having trouble even holding on to.

    I'm not sure what that's got to do with me being a libertarian, either.

    Trying to make a better life? Tell that to the people who are being put out on the streets right now, or to the people who would just like to be able to even OWN a home to begin with. Ask THEM what a "better life" would be.
     
    Last edited: Jul 30, 2008
  8. manifold
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    manifold Gold Member

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    People very often squander what they are given and seldom what they earn. Isn't that the philosophical basis for opposition to welfare, and socialism in general?
     
    Last edited: Jul 30, 2008
  9. Ravi
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    Ravi Gold Member

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    Is it the entire value? I'm not sure. It could easily be worth a million. Couple of years ago the market value of my house was way the hell up there and it looks like a shack compared to the picture I saw of theirs.

    They tried to start a business and they failed. Not a sob story or a reason to demonize them.
     
  10. Ravi
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    Ravi Gold Member

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    True, and why you should never given the needy too much, right?

    Funny thing is, if these people had started a successful business they would have been great American heroes. :rofl:
     
  11. Paulie
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    Paulie Gold Member

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    I could have sworn I read another article about it elsewhere, and it said the house was valued at that amount. I'm not positive though, and it may have been the cost of construction, not the house's value.

    Either way, it is a LOT of money to be mortgaging your future for, to take such a risk. Sure, they are free to do so and I would never challenge that, but I'm going to hold them to account for it, especially with today's housing problems.

    If they could mortgage $450,000 for a business risk, they very well could have taken an equity line of credit for a LOT LESS, to fix up what they had. Now, they are left with NOTHING, and they made a fool of all those people who volunteered their time for them.

    It's pathetic, and it should never have happened if the family had any fucking sense at all. I wouldn't down them for taking out a nominal amount of money, but why do you need $450,000 do start a construction business? You can start one for $50,000. A truck, the tools, the licenses, and the insurance. Shit, even if it was $100,000, which would DEFINITELY get you going nicely, they probably wouldn't have lose everything. They'd be stuck with a mortage payment of under $1,000 (for 15yrs) for a beautiful home.

    Bottom line, it was grossly irresponsible, and just another example of the financial stupidity so rampant in this country.
     
  12. Paulie
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    Paulie Gold Member

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    I was waiting for someone to say that. I'd still be just as critical about it. What would the chances be of even knowing about it, though? You think the media would cover it, had it been a successful venture? Probably not, that's GOOD news, right?

    It's a lot to risk in the first place, but when so many people were so gracious to lend their time and hard work, it is like spitting in their faces and showing absolutely no appreciation whatsoever.
     
  13. Ravi
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    Ravi Gold Member

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    Could be, but didn't these people get their 15 minutes of fame on TV? Who knows what motivated them.
     
  14. Jeepers
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    Jeepers Senior Member

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    Nope... youre making unrelated assumptions... give 1000 to an minimum wage worker and 1000 to a financial planner... What will happen to that money... who would most likely squander that.. why?
     
  15. manifold
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    manifold Gold Member

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    I'd first need to understand the assumptions I'm allegedly making before I can respond in earnest.
     
  16. Jeepers
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    Jeepers Senior Member

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    #1)people squander what they are given...
    #2)people dont squander what they earn...
    #3)#1 is why welfare doesnt work...
    #4)#1 is why socialism doesnt work...
    #5)Social programs and Socialism are synonomous.

    Need me to wipe your ass sometime too... On crossing the street, look both ways before you procede ... and it'd be a good idea to use a seatbelt. Let me know if you need anymore help...
     
  17. Jeepers
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    Jeepers Senior Member

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    While we are on the topic of assumptions... wtf...
     
  18. Ravi
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    Ravi Gold Member

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    My guess is that William Joyce has found a protégé.
     
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  19. manifold
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    manifold Gold Member

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    #1-2 - observations not assumptions.
    #3-4 - just passing along what I've been repeatedly told...again no assumption involved.
    #5 - I said nothing of the sort.

    Perhaps you should learn to wipe your own ass before offering it as a service to others.
     
  20. manifold
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    manifold Gold Member

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    You really need to educate yourself about what it means to assume. You seem to have it all wrong.
     

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