Tuesday, December 09, 2008

Another 'Home Makeover Family' in Trouble

For those keeping track, it seems there's another Extreme Home Makeover family in danger of losing their home:

WXYZ.com: 'Extreme Makeover' Family Facing Foreclosure

From the article:

After the makeover, the couple refinanced the mortgage, and their monthly payments have nearly doubled - from $1,200 to $2,300. They had debts of $20,000 for the boy's therapy alone.

"We didn't have bad spending habits," Judy Vardon said. "My husband got laid off for a time, and insurance wouldn't cover Lance's autism therapy and some other things like his vision and special dental work."

Other EHM home troubles have been based in ... well, stupidity.

This one? Not so much.

Labels: ,

— Posted by Michael @ 8:45 AM


Except that this couple should have sold the house instead of doing a cash-out re-fi. That was a high risk move and it backfired.


I'm so upside down in my house I couldn't sell it if I tried.

Oh well. At least I like my house and am OK with settling in it for the long haul.

Sorry to hear about the kids autism. That makes a difficult life nearly impossible. I will say a little prayer.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]