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Many Extreme Makeover Homes in Foreclosure

The economy has been tough on many but the gifts given by the “Extreme Makeover” show in the way of revamped houses have not been immune to hitting the auction block.

Here are some news stories covering the losses faced by people on the show.

Even though people on the show get new free houses they have to face other challenges. For example, if the old house that was demolished had a mortgage, the mortgage still exists and payments are still due. New homes increase property values and taxes. They also increase operating costs and maintenance bills. The financial demands would in general be the same or higher after the new home and people getting them must be prepared to deal with it.

While getting a free new house makes for good television, for some it is not the magic bullet that lets them live happily ever after.

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READ  Another 'Extreme Makeover' Home In Foreclosure

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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.

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