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Another ‘Extreme Makeover’ Home In Foreclosure

Back in August there was an Extreme Makeover home in Georgia facing foreclosure, now there is another. This time in Michigan.

Extreme Makeover is a very interesting television show to watch. Who can’t be drawn into watching Ty Pennington and the nice looking makeover team roll up in their custom bus and then demolish the tattered home of a family preparing to be sent away on vacation, probably to Disney?

Spotted online today was this story.

OAK PARK, Mich. (WXYZ) – An Oak Park family that received an Extreme Makeover for their home is now in danger of losing it to foreclosure.

Larry and Judy Vardon got into financial trouble because of extensive medical bills for their youngest son, Lance. The 16-year-old is blind and autistic. His medical treatments are not covered by their insurance.

The Vardons were also hit by the subprime housing crisis. Their mortgage rate jumped to 11 percent after it adjusted. Larry Vardon is also worried about being laid off from his job at the Chrysler Stamping Plant in Sterling Heights.

Many of the Vardons’ neighbors had thought that their mortgage was paid off when they appeared on the show in November 2004, but that was not the case. Now the home is one of the 390 in Oak Park currently in foreclosure.

The Vardons’ property taxes are also part of their financial problems. They jumped almost $1,000 after the makeover.

After their appearance on the show, Larry was laid off and they remortgaged the house. Since then the mortgage has been resold to different companies three times, with the interest rate jumping each time.

The family’s debts include $20,000 in medical expenses for Lance. The family has set up a fund to try and raise money. If you want to help you can contact the Friends of the Vardon Family Fund, P.O. Box 721084, Berkley, MI 48072-0084.

I’m a little surprised to hear from others that they are shocked that an ‘Extreme Makeover’ home can be foreclosed on. Why not?

Getting your home made over and loaded with new Sears appliances does not make you better with credit and debt. Nor does it change the underlying issues that lead you into financial strife to begin with.

Extreme Makeover makes over homes because it makes for exceptional emotional television. It is a television show that entertains audiences in order to sell commercials to generate revenue for the network, sponsors, talent and producers.

The question isn’t that an Extreme Makeover home is in foreclosure, the real issue is how many will be lost during this real estate tornado season.

Getting a free house increases your property value and your property taxes. With all those free gifts you also wind up a huge tax bill as well.

So keep watching, there will me more Extreme Makeover homes to be given away and latter foreclosed on. It might be sad, but it’s not news, it’s enevitable.

Another 'Extreme Makeover' Home In Foreclosure by

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Reston_Chiropractic

    I am a fan of the show, but sad to hear the woes after the cameras are gone. Although rather outdated, this article brings a good point even today. Thank you!

    http://www.comfortchiro.com

  • autorepaircentre.com

    I think there could be some middle ground. New builds can often use materials that equate to cheaper to run home but yes it is abit overkill!

  • http://www.localtraders.com/

    It would suck to lose one of the houses they do. You would think they left giving you some security.

  • http://GetOutOfDebt.org Steve Rhode

    Excellent point and great suggestion but as you said, probably not great television which achieves the goals of the network and advertisers.

  • http://ezinearticles.com/?id=1503120 Controlling Panic Attacks

    I’ve heard of these stories before and it’s so sad. I know it wouldn’t be as interesting on television but perhaps instead of taking a $150,000 home and turning it into a $1,000,000 home they should fix up the existing home and pay off the mortgage for the people that appear on the show.

    The show doesn’t just make over the homes they replace them with mansions. It’s overkill and them homeowners would be just as greatful and so much better off. But, the show wouldn’t be as interesting withouth the huge reveal at the end.

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