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US TV house joins foreclosed homes list

A house which featured on a high-profile home makeover TV show has joined the ranks of foreclosed homes.

The Atlanta-area property appeared on an edition of the ABC reality show “Extreme Makeover” in 2005 and was built from the ground up for the Harper family.

According to the Washington Post, it took 1,800 volunteers a week to demolish the old family home and replace it with a larger two-storey property complete with appliances and furnishings.

The Atlanta Journal-Constitution says it will now go up for auction at Clayton County Courthouse on August 5 after the family used it as collateral for a $450,000 loan.

Quoted by the Journal-Constitution, an ABC statement read:

“Ultimately, financial matters are personal, and we work to respect the privacy of the families.”

The paper added the station said it advises each family to consult a financial planner after getting their new home.

A recent report from property website realtytrac.com said foreclosure filings were reported on 739,714 US properties during the second quarter of 2008 – an increase of 14 per cent on the previous quarter.

This means one in every 171 houses in the US has a had foreclosure filing in the last three months.

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