As another example of the US Housing Crisis, the Extreme Makeover home has gone into foreclosure. Owners Milton and Patricia Harper are now forced to give up the home, after gambling away the equity on a new venture.
1,800 people helped to rebuild the Atlanta home as part of ABC's Extreme Makeover show. They were inspired by the idea of giving the over-burdened family a second chance. The home was fully paid for during the show.
However, the Atlanta couple put up a $450,000 loan to fund a construction business. Given the impact of the housing crisis on construction, the load was never repaid.
The whole thing is a real blow to all those inspired by the original premise of the show.
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Extreme Makeover Home Goes Into Foreclosure
By: Jeremy Gutsche - Published: Jul 29, 2008 • References: dailyherald