extreme makeover house goes into foreclosure

[zubs_IHB]

Hi,



This is my first time posting. I saw this headline on yahoo news today and thought I'd share it with the community.



http://news.yahoo.com/s/ap/20080728...foreclosure;_ylt=At3DkcMMmpVYgUL8NxqmvNBxFb8C



I'm sure some of you have seen it already, but I felt it relevant to all the heloc abuse stories we have on the main page.



regards,

zubs

 

[graphrix_IHB]

<a href="http://www.ajc.com/search/content/metro/stories/2008/07/26/foreclose.html">Here is a little better article on the story</a>.

 

[redline122_IHB]

I always wondered what happened after the big reveal! It's really too bad how people get sooo enamored to HELOC themselves to foreclosure by taking the equity and placing it into high risk ventures (ie. a construction company start up) or depreciating assets like that bling-blinging Escalade.