A number of families that appear on the popular TV show, “Extreme Makeover: Home Edition” encounter obstacles once the cameras and crew leave town. Oftentimes, it is the struggle to afford the upkeep on their expensive new homes and the hefty monthly mortgage payments.
The first of several foreclosures for the show involved Eric Hebert. In an early 2006 episode, his family home, described as a basement with a roof over it, received a huge makeover. The new home resembled a multi-story mountain lodge. Public records show Mr. Hebert’s original mortgage was for $110,000 in September 2004. In January 2006, just before the show aired, he refinanced for $250,000. About a year later, came another refinance with Wells Fargo for $382,500. A notice of default was recorded in January 2009 and the home was foreclosed on in October.
The Okvaths received a 5,346-square-foot home with six bedrooms, a movie theater and carousel in the backyard for their home makeover. After falling upon hard times, the family could no longer afford the $3,056 monthly mortgage payment. The area has an 18-month supply of homes in that price range and the Spanish-style mansion is out of place in its modest surroundings.
Some contestants have opted for a quick fix and attempted to sell their new homes. However, the homes featured on the show are big, luxurious residences built in working-class, rural communities making the properties a tough sell.
Click here to read more on this story.
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.
