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07-29-2008, 02:29 PM
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#1 (permalink) |
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Race lines on the mind
Join Date: Apr 2008
Location: Northwest Florida
Posts: 1,085
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Epitome of stupid: Extreme makeover home FORCLOSURE
Television show - TV Show - Yahoo! TV
This is why most poor people are poor. Bad decision making is usually to blame.
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2003 Honda S2000 - Suzuka Blue 2005 Magnetic Blue Elise Forcefed 275 turbo - Sold 05/20/09 |
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07-29-2008, 02:43 PM
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#3 (permalink) |
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Registered User
Join Date: Jun 2006
Posts: 606
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I read about it this morning. It goes to show you that some people deserve to be in the situation they are in.
I don't see why the volunteers are pissed about it. It's their faults for not being able to see that these people weren't worthy of help. Take it as a lesson learned that some people deserve to have nothing. |
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07-29-2008, 02:49 PM
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#4 (permalink) |
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Enemy of the State
Join Date: May 2006
Location: Nashville
Posts: 840
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You can't fix stupid.
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07-29-2008, 02:50 PM
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#5 (permalink) |
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(Formerly PESTODUDE)
Join Date: Oct 2007
Location: Los Angeles
Posts: 692
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I'm amazed this doesn't happen more often. They're giving people a mortgage free, house worth hundreds of thousands of dollars. They can stroll into any bank and get an equity loan on signature to do whatever they want with.
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Randy '07 Phntm Blk Exige S. Proalloy chargecooler, RLS IC tubes, Sector RTD brace, Manly's motor mounts, cup air box, CF Sector front splitter, wing, and side scoops/ mesh removed, SS brake lines, Sector and "Stan's" shifter mod, "Stan's" clutch pedal mod, Voltphreaks 4.5lb battery, Gotham tune. |
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07-29-2008, 02:57 PM
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#6 (permalink) | |
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Race lines on the mind
Join Date: Apr 2008
Location: Northwest Florida
Posts: 1,085
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Quote:
Insane.....
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2003 Honda S2000 - Suzuka Blue 2005 Magnetic Blue Elise Forcefed 275 turbo - Sold 05/20/09 |
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07-29-2008, 03:00 PM
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#7 (permalink) | |
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Currently NA
Join Date: Mar 2008
Location: Thousand Oaks, CA
Posts: 530
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Quote:
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Steve Exige S or S 240 in 2009 - PLANS ON HOLD DUE TO ECONOMY  2008 Triumph Daytona 675 - Jet Black |
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07-29-2008, 04:48 PM
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#9 (permalink) |
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Sports Photographer
Join Date: Nov 2005
Location: Knoxville, Tn
Posts: 1,368
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It looks like he used the loan to start a construction business and in most any normal time period that may have been a very solid investment (pending that he had experiance to back it up). However, he seemed to choose the time to start this when the economy was shifting and the home prices (and building) were plummetting. Could be a total cluster... or it could have been very bad timing. Someone out there will end up with a very nice home though.
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2005 Elise Ardent Red/Black LSS, TP, HT, Knoxville, TN. Surrounded by: Deal's Gap (318 curves in 11 miles) Cherohala Skyway (45miles of sweeping mountain curves) Devil's Triangle (Deal's Gap but with more attitude) ...and of course, the Great Smokey Mountains Parks! Welcome to Elise Country |
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07-29-2008, 05:25 PM
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#10 (permalink) | |
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Double Trouble
Join Date: Sep 2005
Location: Hollywood Hills
Posts: 3,178
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Quote:
At least they were trying to start a business. Stupid would have been to mortgage the house and go buy a boat, or some cars, or gamble it away. .
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Turn your flatscreen TV into a work of art. Modern Art DVD | Plasma Aquarium DVD | Widescreen Fireplace DVD 11 Esprit??? (Wish List) 07 Exige S - Ardent Red, Stage II Exhaust, LSD, Touring pack 06 Range Rover Sport - Java Black 05 Elise - Ardent Red, Stage II Exhaust, Touring pack |
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07-29-2008, 05:30 PM
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#11 (permalink) | |
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(Formerly PESTODUDE)
Join Date: Oct 2007
Location: Los Angeles
Posts: 692
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Quote:
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Randy '07 Phntm Blk Exige S. Proalloy chargecooler, RLS IC tubes, Sector RTD brace, Manly's motor mounts, cup air box, CF Sector front splitter, wing, and side scoops/ mesh removed, SS brake lines, Sector and "Stan's" shifter mod, "Stan's" clutch pedal mod, Voltphreaks 4.5lb battery, Gotham tune. |
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07-29-2008, 05:55 PM
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#13 (permalink) | |||
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Elise Royalty
Join Date: Dec 2003
Location: Huntington Beach, CA
Posts: 6,072
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This seems to be the same as someone winning the lottery to me and we all know how a large number of those work out  
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Providing an opportunity for others to live vicariously through me since 2004 ®  
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07-29-2008, 06:11 PM
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#14 (permalink) |
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User Restricted By ΑDMIΝ
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What, no bleeding hearts to blame Wall Street/mortgage brokers/Bush/Iraq/global warming?
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* 2009 Lotus Challenge Series Rookie Of The Year * (Thanks Jim, Tom, Jack, Rob & Spring Mountain Motorsports Ranch!) My videos: http://www.youtube.com/user/apk919 |
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07-29-2008, 06:12 PM
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#15 (permalink) | |
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Registered User
Join Date: Apr 2008
Location: Basking Ridge, NJ
Posts: 65
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Not me, but...
Quote:
 Seriously though, sometimes these people get taken advantage of by banks. Stupid is easy to manipulate... I know someone who signed on for an interest only mortgage and line of credit so they could do a renovation on their house. They where convinced by the bank that they could afford the renovation and the new mortgage because their payments would be SO LOW with this "new" interest only concept. The people who signed the mortgage didn't even understand that they would NEVER EVER pay their mortgage down and would just keep paying their mortgage's interest until they died. PLUS, the bank totally screwed up their tax escrow and miscalculated it by thousands. Now that the bank realized their error, they have adjusted the monthly payment and they will almost definitely lose the house because they can't afford the new higher payments... They NEVER would have done the renovation if they knew this fancy new mortgage was never going to be paid off AND that they can't really afford it. The bank got their closing fees plus 18 months worth of interest on the mortgage and now they are going to a real bank for a 30 year fixed mortgage and see if maybe they can aford to keep their house.  Yes, they where stupid and didn't understand what was going on. But they went to a professional that they trusted to guide them in the right direction and they where taken for a ride like they went to Six Flags... I feel horrible for them!!! Of course, they have some other spending issues as well... But certainly nothing they deserve to lose their house over. -Matt |
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07-29-2008, 10:54 PM
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#16 (permalink) |
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Right Wing Conspirator
Join Date: Mar 2008
Location: New Jersey
Posts: 1,344
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"A fool and his money are soon parted" Thomas Tusser (1524-1580). English poet and farmer.
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“Congress has not unlimited powers to provide for the general welfare, but only those specifically enumerated.” -Thomas Jefferson “With respect to the two words ‘general welfare,’ I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators.” -James Madison |
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07-29-2008, 11:05 PM
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#17 (permalink) | |
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Right Wing Conspirator
Join Date: Mar 2008
Location: New Jersey
Posts: 1,344
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Quote:
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“Congress has not unlimited powers to provide for the general welfare, but only those specifically enumerated.” -Thomas Jefferson “With respect to the two words ‘general welfare,’ I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators.” -James Madison |
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07-30-2008, 02:48 AM
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#18 (permalink) |
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Hydrocarbons Rule
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At least the kids still have their scholarships... So maybe stupid won't continue on in the family...
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07-30-2008, 06:20 AM
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#19 (permalink) | |
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Prez: The K.G.B.
Join Date: Mar 2003
Location: Atlanta, GA
Posts: 5,303
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Quote:
"Life is hard, but its hardest when you're dumb." - Austin Lounge Lizards
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07-30-2008, 09:20 AM
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#20 (permalink) |
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Registered User
Join Date: Apr 2004
Posts: 1,457
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I always see this show on when flipping through the channels and wonder when the family will blow it all again. I'm actually pretty surprised that something like this is happening to a family from the show 3 years after the house was built and not sooner.
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