uhh...wait WTF?


So this show DOESN'T pay for the new house they build? I read some articles that say that the families have MORTGAGES on these new houses?? WTF? Isn't the point of this show to GIVE a new home to the struggling families, so that they don't have to worry anymore? So they donate their time and services, but the family has to pay for everything? I'm not getting it....

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anyone?

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Can someone please answer my question?

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People took out mortgages to tap into their home equity.

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These people all own the house that gets torn down and the property it is on. Most still are paying the mortgage on that house! Just because it gets torn down does not mean they don't have a mortgage now! They still owe for the house they purchased to begin with.

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Actually in some cases, they do pay for the mortgages...i guess it depends on each particular case

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The hampton family ABC paind for the mortage

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I don't think ANYONE who applies to this show can just assume that the show is just going to GIVE a house without some cost involved afterward. I haven't watched any of the new season but I can remember a few episodes where a company took care of their mortgage but the homeowners should still have to pay property taxes.

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they either get their mortgage paid off or a house fund which is usually large enough to pay off their mortgage.

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You guys, I'm not talking about the mortgages on their TORN DOWN home...I'm talking about on the NEW HOUSE.

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There is no mortgage on the new houses that are built. They are built by volunteers and donations and the show. The mortgage is on the old house. They usually pay those off or give the family a fund. I highly doubt that they will rebuild a house and say, "here's your new mortgage with your old mortgage now go have a happy life."

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When you buy a house on LAND you aren't paying just for the house you are paying for that piece of property that it's on. You can always tear down a house and build a new one- it doesn't mean you don't owe anymore.

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My understanding is they pay off the old morgage. Where the family run into trouble is the sudden jump in utility bills and property taxes they aren't use to paying.

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Yup, they still have to pay their bills. THink of it like Overhaulin'. They get a better house with improvements, but they still have to pay the debt on the property. Nothing is paid off. And sadly, due to the increase in the house's value, property tax often increases by many, many times over, causing a huge financial strain on the family. And when bigger homes are built, bigger utilities are required as well.

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It's already been covered on another thread that before they even arrive with cameras they make sure they know what the family can afford. Also, in loads of the episodes they raise money for the family or pay off the mortgages.

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