What happens after the "Extreme Makeover" team leaves (Lost, show)

[MAtheBanker]

I can't say I feel bad for the family...they knew what they were getting in to.

'Extreme Makeover' left Gilbert family with unforeseen expenses

Anyone have any more stories about what's happened after these houses are built? I like to read up on what happens after people leave "Biggest Loser", too.

[ovcatto]

Ask and ye shall receive.

But in the future, remember Google is your friend.

‘Extreme Makeover’ Home in Foreclosure - Developments - WSJ

Bonner County Daily Bee

One last point, these are just two stories, I imagine that in the majority of cases, things work out pretty well.

[Sudcaro]

The problem with this show is that it gives a lot - and even more than just a lot- to people who had nothing, and who will not know how to handle that new "fortune". Maybe some professional counselling should be provided with the new house...

[sailordave]

So why would a family, down on their luck financially, have seven children? For the sake of ratings, the show goes overboard on design and size. They seem to forget that these down on their luck families will have to pay for the much larger utility bills and property taxes. With the exception of people with special handicap needs, there's no reason to build such huge wide open space homes.

[Rakin]

Afew years ago HGTV gave away a million dollar house here in TX to a guy who drove a bus in Chicago. He tried to keep it and was bankrupt 2 years later. He lost it all plus the $200k to cover taxes and expenses.

[eevee]

Originally Posted by sailordave

So why would a family, down on their luck financially, have seven children? For the sake of ratings, the show goes overboard on design and size. They seem to forget that these down on their luck families will have to pay for the much larger utility bills and property taxes. With the exception of people with special handicap needs, there's no reason to build such huge wide open space homes.

I got the impression that they were down on their luck mainly b/c the oldest girl had cancer. but I do agree that it makes no sense to give these middle class folks (or lower, god forbid) mansions they could never realistically afford. an almost 6K sqft house is absurd, even w/ 7 kids!

[MAtheBanker]

What astounds me is how these families take out mortgages on the houses and then before you know it, there's no money left! How in the hell did they burn through $400k??

[Sudcaro]

Originally Posted by MAtheBanker

What astounds me is how these families take out mortgages on the houses and then before you know it, there's no money left! How in the hell did they burn through $400k??

I may be wrong, but I read it somewhere that they hired landscapers, tried to convert the garage into a playroom, threw hospital parties etc...
They obviously don't know how to manage a budget...

[MAtheBanker]

Originally Posted by Sudcaro

I may be wrong, but I read it somewhere that they hired landscapers, tried to convert the garage into a playroom, threw hospital parties etc...
They obviously don't know how to manage a budget...

I read that, too. I just don't see how that all equaled out to $400k. For goodness sake, pay your utility companies for 5 years in advance so you never have to worry about those high bills again. Do something productive with the money!

[mommytotwo]

"The Okvaths used their house as collateral for a [COLOR=green ! important][COLOR=green ! important]loan[/color][/color]. In 2006, Nichol took out a $405,000 loan. It was an adjustable-rate mortgage, and the payments became too much for the family to handle."

Originally Posted by MAtheBanker

What astounds me is how these families take out mortgages on the houses and then before you know it, there's no money left! How in the hell did they burn through $400k??

Originally Posted by MAtheBanker

I read that, too. I just don't see how that all equaled out to $400k. For goodness sake, pay your utility companies for 5 years in advance so you never have to worry about those high bills again. Do something productive with the money!

No kidding. It sounds like the examples of what they did with the money weren't necessary, especially to take out that kind of loan and be bankrupt months later.

It seems partially due to lack of foresight on their part. Why would you do home improvements with an equity loan if you are not going to be able to afford your house payment 3 months from now?