The press would call them “the latest victims of the sub-prime meltdown”. Argh. No, this is simply another prime example of what has contributed to our current economic state.
Things couldn’t look better three years ago for Milton and Patricia Harper of Lake City, who giddily accepted the keys to a small castle, plus enough money to pay taxes on it for 25 years. It was a product of “Extreme Makeover: Home Edition.”
Now, the Clayton County house is a two-story, turreted example of how things can go wrong. It’s in foreclosure.
The Harpers used the house at 5489 Ahyoka Drive as collateral for a $450,000 loan, Clayton County mortgage records show. Records at the law firm handling foreclosures for the lender, JPMorgan Chase Bank, say it is in foreclosure. The four-bedroom house with decorative rock walls and a three-car garage is scheduled for auction on the Clayton County Courthouse steps Aug. 5.
The Harpers, who declined interview requests when reporters knocked on their door Friday, told WSB-TV they got the loan for a construction business that failed.
It gets “better”…
Materials and labor were donated, but the home would have cost about $450,000 to construct.
That was not all. 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.
The Harpers, whom ABC chose from among 15,000 “Extreme Makeover” applicants, spent the week in Disneyland while 1,800 people swarmed about the site. The family returned to a new home, plus contributions worth about $200,000.
So they blow through all that cash in two years? “Squandered” does not begin to describe their breathtakingly stupid series of decisions.
Personally, this is why I have been trying to think of the money I earn as God’s money. Groan all you want, but you won’t see me squandering my cash on the latest car, big/stupid-expensive trip, or 60 inch plasma TVs. It’s all about stuardship. When you treat the money like it’s not yours, that it’s a blessing, you’re less likely to put it to complete waste.
When your attitude is, “gonna gets mine,” or some other form of entitlement mentality, you could have all the money in the world funneled to your coffers and it would all go to waste. Why? BECAUSE YOU CAN’T HANDLE MONEY TO SAVE YOUR LIFE!
You know, we could play Robin Hood Extreme in this country and rob even more from all the high and medium income earners. In three years, I would wager that all of it would be back in the hands of “the rich”. Why? Again, because the poor are often poor for this reason: they can’t handle money. In fact, they aren’t allowed to: the government does it all for them.
So, what are we going to learn from this latest government bailout? That if things get bad enough, the government will step in and apply a financial gauze. No one really gets hurt… JUST JOHN AND SUZIE-Q TAXPAYER WHO WERE RESPONSIBLE ENOUGH TO SCRIMP, SAVE AND AFFORD (OR WAIT TO AFFORD) A HOME WITHIN THEIR MEANS!
Pissed? Doesn’t begin to describe how I feel.