Atlanta Extreme Makeover home in foreclosure after owners used it as collateral for a loan
Over the past few days, the Extreme Makeover: Home Edition home outside of Atlanta that is now in foreclosure has gotten a lot of press, primarily because of its association with the show. But the home isn’t in foreclosure because the family wasn’t able to afford their massive new house.
Instead, it’s because Milton and Patricia Harper “used the house at 5489 Ahyoka Drive as collateral for a $450,000 loan” that funded “a construction business that failed,” The Atlanta Journal-Constitution reported. The house will be auctioned off on Tuesday in Atlanta.
Perhaps more damningly is the fact that, during the construction, “Beazer Homes’ employees and company partners raised a quarter-million dollars in contributions for the family. The sum included scholarships for the three Harper children and a home maintenance fund,” according to the paper.
ABC released a statement saying, “Extreme Makeover: Home Edition’ advises each family to consult a financial planner after they receive their new home. Ultimately, financial matters are personal, and we work to respect the privacy of the families.”