Extreme Home Makeover

[sgrizzle]

That's awesome about the scholarships and speech therapy! More life-changing than the house!!

I'm no tax expert, but it's my understanding that when someone pays off your mortgage, gives you a house, etc, etc, the IRS considers that income and you have to claim it and pay taxes on it. So yes, they are definitely better off, but there ain't no such thing as a free house.

From what I've read, here is what happens. The starkweathers LEASE the house TO ABC during which time the "tenant" makes improvements to the property. When a tenant leaves, the improvements stay with the property and are not considered income.

As far as a mortgage payoff, they likely do some lump sum payment in addition to cover tax liabilities.

[Conan71]

I was very moved by TU's gesture with the scholarships and therapy.  It's neat to see the community pull together and kind of hard to see how much really goes on behind the scenes once it's edited down to a one hour show.  Thanks for the updates, Scott.

[sgrizzle]

I was very moved by TU's gesture with the scholarships and therapy.  It's neat to see the community pull together and kind of hard to see how much really goes on behind the scenes once it's edited down to a one hour show.  Thanks for the updates, Scott.

Really impressive since the reveal took about 3 hours, not counting the additional hours spent revealing the inside of the house.

[dbacks fan]

I hope that this doesn't happen.


http://www.azcentral.com/community/gilbert/articles/2010/02/12/20100212home-makeover-gilbert-family-12-ON.html

[Hoss]

I hope that this doesn't happen.


http://www.azcentral.com/community/gilbert/articles/2010/02/12/20100212home-makeover-gilbert-family-12-ON.html

I'm guessing this house isn't a 5300 foot^2 behemoth mansion....and probably not worth $1 million.  Let's hope they don't feel the need to take out some frivolous loan.

[cecelia]

There are many things to like about this project, in particular, the humanitarian inclinations of the participants - but good gawd almighty, the columns on the front of that house have *got* to go.     

[sgrizzle]

There are many things to like about this project, in particular, the humanitarian inclinations of the participants - but good gawd almighty, the columns on the front of that house have *got* to go.     

I'm pretty sure the roof would prefer they stay.

[sgrizzle]

I hope that this doesn't happen.


http://www.azcentral.com/community/gilbert/articles/2010/02/12/20100212home-makeover-gilbert-family-12-ON.html

Note is was foreclosed on for a loan they got to pay utilities and "other bills"

The only house previously foreclosed on was because the owners took a loan against it to finance a business they were trying to start. Even at that, that puts the foreclosure rate at 1 out of every 80 homes... what's the national rate?

[Conan71]

I'm still scratching my head at how the loan on the Arizona house was ever approved- ostensibly the husband's work history was somewhat spotty, he has 8 dependents, probably crushing medical liabilities from his daughter's cancer.  There seems to have been a pattern of stupid lending in Arizona based on the foreclosure rates out that way.  A loaded payment on a $400K loan would have been around $2500 I would think.

[rwarn17588]

I'm still scratching my head at how the loan on the Arizona house was ever approved- ostensibly the husband's work history was somewhat spotty, he has 8 dependents, probably crushing medical liabilities from his daughter's cancer.  There seems to have been a pattern of stupid lending in Arizona based on the foreclosure rates out that way.  A loaded payment on a $400K loan would have been around $2500 I would think.

It's because the lenders in Arizona thought the price of housing would go up forever ... at 15 to 25 percent per year, no less.

Hell, you had guys like inteller on this very forum, trumpeting Arizona's bubble like it was the greatest thing since sliced bread and not taking a moment to wonder whether the gains were irrational. Lots of people got caught up in the madness.

Plus the loan officers were writing loans with little thought of anything except their commissions.

[dbacks fan]

Any word on when this episode will air? I checked the web site on abc.com not very helpful.

[sgrizzle]

Any word on when this episode will air? I checked the web site on abc.com not very helpful.

No new episodes next two sundays. If it airs in production order it will show on March 14th. At the time of filming there was some mumbling about it becoming a 2-hr episode which could also mean it airs out of order. I could see them also possibly wanting to separate the two Oklahoma episodes instead of airing them back-to-back.

[dbacks fan]

No new episodes next two sundays. If it airs in production order it will show on March 14th. At the time of filming there was some mumbling about it becoming a 2-hr episode which could also mean it airs out of order. I could see them also possibly wanting to separate the two Oklahoma episodes instead of airing them back-to-back.

Thanks sgriz, I will keep my eyes open for it.

[swake]

2/28 Marshall Family
3/14 Skaggs Family
3/21 Heathcock Family
3/28 No episode information yet

It's not on the schedule yet, it might be the 3/28 episode.

[Cats Cats Cats]

I think march is definitely out.