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July 30, 2008

Some people need to be foreclosed on

Fail

Leave it up to black people to somehow lose a house they didn't even have to pay for in the first place.

Courtesy of some young guy in the comments section, here's a story from the Atlanta Journal-Constitution the other day about a family that did just that.

Things couldn't look better three years ago for Milton and Patricia Harper of Lake City, who giddily accepted the keys to a small castle, plus enough money to pay taxes on it for 25 years. It was a product of "Extreme Makeover: Home Edition."

Now, the Clayton County house is a two-story, turreted example of how things can go wrong. It's in foreclosure.

The Harpers used the house at 5489 Ahyoka Drive as collateral for a $450,000 loan, Clayton County mortgage records show. Records at the law firm handling foreclosures for the lender, JPMorgan Chase Bank, say it is in foreclosure.

Damn.

Supposedly, the $450,000 went into a construction business that's just didn't work out. But let's keep it real: What kind of black people do you know who would take half a million dollars from a loan against a house they got for free in the first place and put the entire amount into a business venture? Lumber don't cost that much money.

Nah, I'd be willing to bet a lot of that money ended up at Red Lobster, and at a local Cadillac dealership.

Checkit: 'Extreme Makeover' home in Atlanta in foreclosure [AJC]

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