ABC Debuts Extreme Takeover: Foreclosure Edition

Posted: As-is, bank owned, great investment article, seller motivated, bring all offers, no disclosures

LAKE CITY, Ga. -- After spending just three years living in their brand-new, donated, state-of-the-art $450,000 dream home courtesy of the most annoying show on television, the Harper family will soon get a visit from a new reality show: "Extreme Takeover: Foreclosure Edition."

"This hardworking team of more than 150 IRS agents and bank loan officers was generous enough to donate its time, energy and auditing skills to make this takeover a reality, and in record time!" said Ty Pennington as he ripped his custom-built 72" plasma screen "special project" out of the wall.

After a week of poring over financial statements, tax returns and mortgage, second mortgage and third mortgage documents, the team was ready to spring into action. They hired the Harpers' neighbors to move all of the family's furniture to the curb as the Harper family stood outside their home with tears of disbelief.

"I can't believe people would pitch in for something like this," said Milton Harper, who, along with his wife Patricia, lost the house after using it as collateral to start a construction business that failed.

After the furniture was finally moved, a crowd gathered around the Harpers to scream those famous words.

"Move into that bus!" they screamed as the financial volunteers took off in their chartered coach, revealing a 1970s-era Blue Bird school bus with broken windows, a flat tire and painted brown with the faint remnants of the words "Forest Park Middle School" on the side.

"It really warms our cockles to know that we've made such a huge impact on these peoples' lives," said Dale Pinzino, head loan officer at Guaranty Bank. "This family's been through some rough times, and we're here to pick up the pieces, including this beautiful, Axis four-piece Wedge sectional from Crate & Barrel."