Most of the folks on the receiving end of these homes are in no way capable of owning them long-term. Even those who don’t have to pay federal taxes, actually pay taxes and fees in many other forms that range from sales tax, gasoline tax, airport fees if they are traveling, excise taxes, and of course every working person pays social security and medicare. At some price point a bid will be received and the short sale process can begin. Why don’t the producers take a first or second lien position equal to the value of their improvements? This seemed like a smarter plan – own the place yourself and let the troubled owner stay for free or reduced rate. On 10/15/1998 they opened a HELOC for $50,000. More extend and pretend. Here are five tales: Notice how the writer is trying to put a positive spin on the inexcusable behavior of these HELOC abusers. That’s for renters. Where is my free house and army of Do-Gooders? I am not getting the whole business of throwing in a college fund, property tax funds, pizza and beer money, etc. I’m not sure what happened but it went back to UNLIMITED CAPITAL GROUP INC on 3/31/07 and then DEUTSCHE BANK NTL TR CO TR took possession on 6/7/07. Would people watch ‘Reasonable and prudent home remodels’? (See related article.) Yes, half the U.S. population is too POOR to pay Federal taxes. But from most of the comments that I read on line, people usually seem to think that every uninsured person is getting a free ride. I felt sorry for the people, but you could tell that a portion of the stories were embellished, and important questions left out completely. As you say monetizing $20k per annum on a fully paid house is one thing, $200k is too much. It wouldn't be out of character. Habitat for Humanity is a group with the mission of safe affordable housing that is short on glitz, long on help (1.75M people living in Habitat homes). If they rent or own, they pay property taxes whether indirectly or directly. The bill from the hospital was struck in half by our insurance. That must be quite a large deductible. What I wonder is whether the show provides them with any type of financial counseling/tax advice etc etc. If you loose your job, you’re allowed to access COBRA for 6 months, and then its gone. Great medical at some companies and very bad at others. Stupid people do stupid things. Smart plan for BoA, IMHO. Perhaps their lender will forgive their principal balance and let them do it all over again? Ms. Okvath says she hasn't made the $3,056 monthly mortgage payment since December of 2008. Like giving a child a handgun. On 3/28/2005 they refinanced with a $532,000 Option ARM with a 1.25% teaser rate. It’s high time we declare a War On Humility and eradicate it from the face of the earth once and for all. From the extremes of generosity springs the extremes of stupid borrower behavior. We had a child born with cancer when we lived in England. Oh wait, they are nowhere. Today's featured property is one of many. I could see $20,000, but $200,000 is ridiculous. Home also has formal dining room, cathedral ceilings, and a fireplace in family room. I still say a family of five can live comfortably in 2,000 sq ft. That’s big enough for a 4 bed/2 bath, with a reasonable sized living room, dining room, kitchen, and family room. I don’t. How many bones did he set? They spent every penny, borrowed more, then spent every penny of that. Looks to me like uninsured patients (at least for non-ER procedures) are being forced to subsidize the billion-dollar insurance industry & the billon-dollar healthcare industry. Tyson Foods Inc. threw in a $50,000 check for Mr. Hebert and his family. http://www.charlotteobserver.com/2010/04/18/1383119/bofa-plan-no-job-no-house-payment.html. According to the wiki entry these are the only 4 that have gotten into trouble (so far). If you’re paying for medical care out of pocket, then you’re paying for 100% — 5x more. The insurance company just said “no, you can’t charge for that” and that was the end of it. Irvine Home Address … 18 SUNSET Riv Irvine, CA 92604. I’ve seen a few episodes of this show and the families selected generally appear well deserving of an opportunity to rise above adversity – people who have adversity from a children’s illness and/or loss of a loved one in the armed services. Why didn’t the donors set up a trust they controlled that owned the house to prevent the HELOC abuse? Am I wrong?”. If only I were an illegal immigrant that they couldn’t track down. This family–daughter Kassandra was recovering from cancer–received a 5,346-square-foot home with six bedrooms, a movie theater and carousel in the backyard. That sounds quite a bit cramped, IMHO. About a year later, came another refinance with Wells Fargo for $382,500. These television programs are designed to spin an emotional tale that keeps viewers watching and willing to sit through Viagra commercials and these people that they use to produce their entertainment product are their tools who get thrown a few scraps for their roles in the emotion porn. Well, both the health care providers (i.e. Lost Income to Down Payment (net of taxes), $84 ………. Zip. How many ill people did he cure? Not that this excuses the show’s entire absurd premise. Or it could be a straight buy a bunch of houses, slap granite in the kitchens, find you can’t make any money flipping them, fail. I just had a baby girl. In September of 2004, just as the real-estate bubble was heating up, an episode featuring the Wofford family, a widowed father raising eight children, showed a roughly 1,200-square-foot home replaced with a 4,337-square-foot model in Encinitas, Calif. Brian Wofford reportedly paid $186,700 on the home in 1989. In the past and until Obamacare comes online in 2014, people who do not get insurance from their employers were basically hanging on to a sinking ship hoping that a storm never came. How does someone lose enough money to consume the value in a 5,300 SF McMansion? Not to be outdone by irresponsible loan owners from other parts, Irvine residents routinely spent their homes. Insurance only paid $40 (said $50 was customary). Since it takes that long to do a standard foreclosure, BoA’s additional loss is minimal. Likewise this health care scam really needs to come out into the open and it’s something I will mention any/every where I get a chance. I wouldn't. I can see how medical bills can go over $200,000 for co-pay or not covered in a illness, such as cancer or extended illness. It appears that 22431 Avena Lane was purchased by it’s present owner in 1995 for an unknown amount. That behavior is not excusable. Like you I’m a bit torn. Plus the reasonable home would be less apt to be he-hocked. Oh, and medical billing is often just a shame. We're a tight community.". I’ve seen a few episodes of this show and the families selected generally appear well deserving of an opportunity to rise above adversity – people who have adversity from a children’s illness and/or loss of a loved one in the armed services. The address is 6817 Del Rosa Dr in San Bernardino if you want to check it out in Google Earth or Google Maps. I think the real question is whether or not these improvements should be a gift at all. Sure, that’s more, but it’s doable.
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