Money Beat

I am from Ga. and am very embarrassed about this as I am sure Ty is as well, Ga being his home state. I hope ABC doesn't stop considering Ga. residents for this opportunity because of one greedy, selfish family.

Just to tick you off a little more....during an interview in Atlanta the wife said she was going to just keep the money and quit paying her mortgage because she thought she was being harrassed too much about the bills. Some people think you owe them everything!

This family is disgusting. They need to be locked up for STUPIDITY. It is sad we have people like this in this country. It goes to show how IMPORTANT EDUCATION IS. All of our puplic schools should start an "Fiscal Responsibility" every year through high school. Then we might elect fiscally responsible presidents.

JoG-

actually, these are not the same people who sued the show. 5 siblings were taken into a home in California, received the extreme makeover, and were later evicted by the home owners, and it was those five siblings who sued. Completely unrelated case.

Stupdity was on both parties- the homeowner and the bank. But the bank should've had the knowledge to understand this family's position and steered them in a better direction. Shame on the bank!

These people are not a victim of the stated "National Foreclosure Crisis", they are victims of their own greed and poor business sense.

Is there a "National Foreclosure Crisis", or are people who signed contracts that they should not have signed simply paying the price?

Better question is why should I have to bail out other people's mistakes?

This is just pure GREED!

I love the way ABC positions this in the headline as this being the result of the "housing crisis". Of course, the only story here is pure stupidity on the part of the homeowners. Let's think about this...someone comes in and builds you a new house, gives you $100,000 in cash and pays off your mortgage...how do you possibly screw this up in a matter of three years? Guess what, they deserve to rent for the rest of your lives! Sadly, this is the case across the country. People over-extend themselves when times are good and as soon as the economic cycle takes a dip, all of a sudden we have a "housing crisis" that's the government's fault. Government shouldn't bail out anybody. Let the market play out. Those who made bad decisions should have to live withy the results instead of having those of us who made wise decisions pay for their stupidity.

The utter STUPIDITY of this family is almost as bad as the utter DISREGARD they showed for the people who volunteered to help build that home for them! I'm positive there are families in Georgia and the US reading this story that are in need of a new home such as this and would NEVER have done something as asinine as use their new home as collateral for a BUSINESS loan!

An earlier poster had it right, this family was in dire straights due to their irresponsible financial decisions and they now find themselves in the same situation once again due to their own poor decision makeing abilities.

Nincompoops!

Sounds like a lot of jealous people commenting on this. Condemning this family is probably the last thing they need. I'm sure they realize they made a mistake and feel horrible they can't fix it. I'm also guessing they had good intentions when took the risk by trying to start a construction business. Maybe it wasn't the smartest idea, but also take into account that it was possibly aided in its failure due to our horrible economy. No one knows, and it's just not fair to criticize others when you don't know their circumstances. Many families are struggling and losing everything, and many people, maybe even you, have taken risks with investments that didn't pay off, or where you lost your shirt. Why not have a little understanding instead of just condemnation?

I agree that schools should start teaching this in highschool. People need to learn how to manage money at a young age, and the fact that having a credit card when you don't have a consistent paycheck is stupid!

First of all, you cant fault the bank in this situation. The house was paid for, thats all equity! There is not a bank in America that wouldnt have given them the loan. The issue is the greediness of some people. You have a new huge house, no mortgage, and 100,000 dollars, and its still not enough! I hope they lose their house and end up homeless, welcome to reality! The show they were on is certaintly not reality. If i was going to lose my home, do you think it would end up on cnn? No one would care, therefore we shouldnt care!!

Greed at its finest. I'm sure there are many other deserving families that wouldn't have taken advantage of a situation where your house is completely rebuilt and your mortgage is paid off. I sure wouldn't. But you will always have greedy people and in the end they get what they deserve

I believe it is the show's fault that this occurred... The show is basically a forum to help needy people and basically this family needed help in other ways than they received. They should have wrote a contract with the family and deed holder to possibly keep the property held for say 10yrs.

The show in it's current format doesn't promote responsibility.

I admit that show makes me bitter seeing people given a new house...especially when their old house is better than the house I'm currently working like a dog for. I'm ok with the selfless foster parent type people that really need the extra rooms and are providing a benefit to society, but so what if you have a sick kid...or that convicted felony who lost his arm. Shortly after the show started they began paying off the people's mortgages too. I'd suspect a few people were given houses that they had trouble handling the tax implications and house payments.

Mr. Drysdale

Exactly what did Bush have to do with this?

James, you have GOT to be kidding me with that post! You've got a TV show which is basically giving these people a "get out of jail free" card and chance to start over...plus more... and you're blaming them? What ever happened to taking responsibility for your own actions?

Just like a lot of lotto winners who wind up with nothing. Some people can't even manage a gift-horse - the chance of a lifetime!

They won't have to worry about being homeless. We taxpayers that know how to pay our mortgage on time will bail them out thanks to our elected officials.

IDIOTS!

How dare they do this, they were lucky to be choosen. Your construction business was a bust that's why you couldn't do the house yourself.

I hope they lose the home they don't deserve it.

No where did I see if any of these people were employed. I just can't believe how stupid they are. They had a free home, scholarships for their children, etc. etc.

What exactly did they spend $550K on? If it was a construction business how come they couldn't sell a backhoe to come up with the mortgage payment for the year?

If someone gave me a brand new house and paid off the mortgage and gave me $100,000 to boot, I'd probably be able to support my family by working at McDonalds. Why would they do someting so risky and stupid? Looks like they never deserved the house in the first place.

Aston:

I was joking! I was expecting someone to blame him since he is blamed for everything else.

Somewhere along the way; we American's have lost the pride of self reliance and have started to blame everyone else for every problem in our lives!

They get no sympathy from me. Idiots.