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Old 09-12-2011, 12:04 PM   #1
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Default Woman Faces Foreclosure on House She Bought for $1

We all know the housing crisis narrative: Back in the go-go days of the boom, someone bought a house they couldn't really afford, financed it with a "creative" mortgage and proceeded to use the place like a piggy bank, on the theory that home values would remain forever up in the stratosphere. Then the housing market crashed, the bills came due and now many of those homeowners are staring down foreclosure.

It's a story we've heard so many times we can practically recite it by heart.

Well, Linda Hatchell didn't do any of those things. In fact, Hatchell paid just $1 for her home in Glen Ellyn, Ill. Yet today she's on the brink of losing it, reports NBC Chicago.

More...
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Old 09-12-2011, 12:17 PM   #2
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Pure, utter, unadulterated, crap.

She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap.

They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself.
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Old 09-12-2011, 12:25 PM   #3
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Pure, utter, unadulterated, crap.

She's not being foreclosed on the price of her home. She's being foreclosed on the mortgage she took out on it for renovations. I don't want to watch the video and the written summary didn't say the amount of the mortgage, but complete renovations to a near-condemned house with period-piece fixtures and furniture, etc, can't be cheap.

They say Linda Hatchell "didn't do any of those things." Patently untrue. She took out a mortgage she ultimately couldn't afford. Sucks to be her, but she did it to herself.
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Old 09-12-2011, 11:32 PM   #4
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I don't want to watch the video...
You should. It shows some spiffy pictures of a house move. Those aren't exactly cheap.

The comments make me sick. Dumb bitch needs to sell and move into an apartment. THen she can deal with her cancer and medical bills.
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Old 09-12-2011, 12:18 PM   #5
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Why do you post stupid shit like this?
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Old 09-13-2011, 02:23 AM   #6
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Why do you post stupid shit like this?
He's retarded.

How much can you possibly owe for 1 year left? 12 grand?
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Old 09-13-2011, 09:20 AM   #7
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He's retarded.

How much can you possibly owe for 1 year left? 12 grand?
It could be she has a massive balloon payment due at the end.
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Old 09-13-2011, 01:02 PM   #8
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He's retarded.
Maybe you missed it. I thought the article was ridiculous. Over-leveraged is over-leveraged. I posted it because this kinda shit is getting old. Journalism is dead. The static is so loud anymore online (and the TV shit is far worse) that the signal-to-noise ratio on what the fuck rationally even matters is truly confounded.

No one reports the fucking news anymore. It's all editorialized, if not outright "sensationalized" [read: made the fuck up] anymore.

Blogs helped decentralize the monopolies, but wiped out all fact-checking and accountability.

...and how about a little more good news for a change? News about how people can get together to effect change. It doesn't all have to be just death and killing, and weather.

It's all just theater anymore. Who can scream the loudest. Write the most sensational headline ($1 house?[...no, it's the thousands you leveraged])...even if it isn't true.


...and while I'm on this rant, let me give a dishonorable mention to Viacom, and their non-stop death stream of teen mental disorder.

WTF?, Over.
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Old 09-12-2011, 12:21 PM   #9
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lol...maybe it's the devil's advocate in me.

Sometimes spin makes my head fucking spin.

My TV is off most of the time anymore. I'm probably gonna end up dropping cable...
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Old 09-12-2011, 12:26 PM   #10
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My TV is off most of the time anymore. I'm probably gonna end up dropping cable...
I'm in the same boat.

I think about it each time the bills comes in.

The only reason I haven't pulled the trigger is that I know that as soon as I do, I'll get that perfect day when I really want to do is veg in front of the tube.
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