Tuesday, July 29, 2008

"Extreme" Disaster

It looks like the biggest ever "Extreme Makeover" project is a bust. The family assisted by the makeover put their home up as collateral for a $450k loan for a business that failed. Now the house is on the auction block. Beazer Homes and 1800 people invested time and money to make a family's dreams come true. They were given a great gift, but did not have the wisdom to receive it well. I don't know whether I'm miffed or saddened. You can read the whole sad tale HERE.

It really shouldn't surprise anyone. It happens all the time. Scandal sheets often carry stories of lottery winners, athletes and entertainers who gain and lose fortunes overnight. The simple principle is, if we can't handle a little, we won't be able to handle a lot.

Of course, it's never too late to change. Anyone can learn to master their money and their lives. It won't be easy, but it is certainly possible. I'm living proof.


snobound said...

This truly is a sad, sad story, however people forget that your home is one of your most sacred possessions. You should never, never, never, never use it as collateral for a "venture", to consolidate unsecured credit (ie. credit cards, personal loans, etc), or to help out a friend. Because inevitably you'll end up out on your ear. Thanks for sharing this news.