Woman Faces Foreclosure on House She Bought for $1

Avatard · 09-12-2011, 11:04 AM

We all know the housing crisis narrative: Back in the go-go days of the boom, someone bought a house they couldn't really afford, financed it with a "creative" mortgage and proceeded to use the place like a piggy bank, on the theory that home values would remain forever up in the stratosphere. Then the housing market crashed, the bills came due and now many of those homeowners are staring down foreclosure.

It's a story we've heard so many times we can practically recite it by heart.

Well, Linda Hatchell didn't do any of those things. In fact, Hatchell paid just $1 for her home in Glen Ellyn, Ill. Yet today she's on the brink of losing it, reports NBC Chicago.

More...

fatbuckRTO · 09-12-2011, 11:17 AM

Pure, utter, unadulterated, crap.

She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap.

They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself.

shmike · 09-12-2011, 11:18 AM

Why do you post stupid shit like this?

Avatard · 09-12-2011, 11:21 AM

lol...maybe it's the devil's advocate in me.

Sometimes spin makes my head fucking spin.

My TV is off most of the time anymore. I'm probably gonna end up dropping cable...

Avatard · 09-12-2011, 11:23 AM

I will say one thing though, there were a lot of people in the comments willing to help the woman. I wish there were a way to spotlight those that might benefit from help without making up a fucking Disney story, but geez. I dunno. The press makes me ill.

Homeslice · 09-12-2011, 11:25 AM

Quote:

Originally Posted by fatbuckRTO

Pure, utter, unadulterated, crap.

She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap.

They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself.

shmike · 09-12-2011, 11:26 AM

Quote:

Originally Posted by Avatard

My TV is off most of the time anymore. I'm probably gonna end up dropping cable...

I'm in the same boat.

I think about it each time the bills comes in.

The only reason I haven't pulled the trigger is that I know that as soon as I do, I'll get that perfect day when I really want to do is veg in front of the tube.

Avatard · 09-12-2011, 11:31 AM

I still love watching all the instructionals, how-it's-dones, and racing...so I can't cut the cord...but what passes for youth culture and news these days makes me wanna fucking punch babies and stomp kittens.

pauldun170 · 09-12-2011, 12:32 PM

Anyone want to buy a 10 year old Lamborghini cheap?
It doesn't run (bent valves) and it needs some odd and ends but I'll sell it to you for $1.

askmrjesus · 09-12-2011, 12:55 PM

Quote:

Originally Posted by pauldun170

Anyone want to buy a 10 year old Lamborghini cheap?
It doesn't run (bent valves) and it needs some odd and ends but I'll sell it to you for $1.

Does it have a tape deck?

JC

09-12-2011, 11:04 AM	#1
Avatard Crotch Rocket Curmudgeon Join Date: Nov 2008 Location: Here to integrity Moto: Li'l red baby Ninja Posts: 7,482	Woman Faces Foreclosure on House She Bought for $1 We all know the housing crisis narrative: Back in the go-go days of the boom, someone bought a house they couldn't really afford, financed it with a "creative" mortgage and proceeded to use the place like a piggy bank, on the theory that home values would remain forever up in the stratosphere. Then the housing market crashed, the bills came due and now many of those homeowners are staring down foreclosure. It's a story we've heard so many times we can practically recite it by heart. Well, Linda Hatchell didn't do any of those things. In fact, Hatchell paid just $1 for her home in Glen Ellyn, Ill. Yet today she's on the brink of losing it, reports NBC Chicago. More... __________________ Insert free thought here.

09-12-2011, 11:17 AM	#2
fatbuckRTO This is not the sig line. Join Date: Dec 2008 Moto: Be prepared. What? Oh, moto... Posts: 1,279	Pure, utter, unadulterated, crap. She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap. They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself. __________________ This was no time for half measures. He was a captain, godsdammit. An officer. Things like this didn't present a problem for an officer. Officers had a tried and tested way of solving problems like this. It was called a sergeant. -Terry Pratchett, Guards! Guards!

09-12-2011, 11:18 AM	#3
shmike Follower Join Date: Nov 2008 Posts: 5,549	Why do you post stupid shit like this? __________________ Racing For Smiles

09-12-2011, 11:21 AM	#4
Avatard Crotch Rocket Curmudgeon Join Date: Nov 2008 Location: Here to integrity Moto: Li'l red baby Ninja Posts: 7,482	lol...maybe it's the devil's advocate in me. Sometimes spin makes my head fucking spin. My TV is off most of the time anymore. I'm probably gonna end up dropping cable... __________________ Insert free thought here.

09-12-2011, 11:23 AM	#5
Avatard Crotch Rocket Curmudgeon Join Date: Nov 2008 Location: Here to integrity Moto: Li'l red baby Ninja Posts: 7,482	I will say one thing though, there were a lot of people in the comments willing to help the woman. I wish there were a way to spotlight those that might benefit from help without making up a fucking Disney story, but geez. I dunno. The press makes me ill. __________________ Insert free thought here.

09-12-2011, 11:31 AM	#8
Avatard Crotch Rocket Curmudgeon Join Date: Nov 2008 Location: Here to integrity Moto: Li'l red baby Ninja Posts: 7,482	I still love watching all the instructionals, how-it's-dones, and racing...so I can't cut the cord...but what passes for youth culture and news these days makes me wanna fucking punch babies and stomp kittens. __________________ Insert free thought here.