Friday, August 1, 2008

Triflin' Ass Bastard Award: Black Couple Loses Extreme Makeover Home After Taking out 450K Loan to Start Construction "Bidness"!



File this one under the "always looking for a hand out category". Please excuse men while I attempt to wrap my mind around this story out of Metro Atlanta.


Apparently, the Harpers and their brood had fallen on hard times and their home fell into a state of irreparable damage. You know how the story goes, dad was a hard worker, but got down-sized, mom attempted to hold the family together by taking odd-jobs to make ends meet. If only someone would GIVE them the opportunity to succeed, to cut them a break - SURELY they would be able to "get on their feet".

Add the backing of a powerful TV network, a great production staff, and a few heart wrenching interviews about how hard and how unfair life is and VOILA! You have the makings of an excellent Extreme Makeover Home Edition episode.


Now let's get to this award I'm handing out to the Harpers. For starters, their existing home mortgage was paid off by ABC and the city in which they lived raised over 250K in cas for the Harpers and their children. In addition, a separate fund was created for home maintenance expenses and the entire home was out fitted with every modern amenity known to man, including top-of-the-line furnisings.

Because the newly constructed home was worth substantially more than their dilapidated old home AND their mortgage was completely paid by ABC, the Harpers retained full ownership of their home with 100% Equity. The harpers then used the home as collateral to secure a 450,000 DOLLAR LOAN to start a construcion business that FAILED. They also used the loan proceeds to buy cars, furs, and take trips. Sounds a little Chitlin' Eatin' doesn it?

The house is going to be auctioned off on August 5 as a result of foreclosure proceedings.

Why attempt to open a construction business, but in the several years that it took for your house to fall into disrepair, not have picked up a hammer and nails to fix your own god damned house!?!?!? Why?!?!?

I would be embarrassed like hell to have started a construction business, if I was so trifling and too damn lazy to fix my own damn house. That was a STUPID idea!!! That should have been a red flag for your sorry assess. You saw an opportunity and milked it and I don't feel sorry for you at all.


I hope your neighbors have the good sense NOT to throw any more money at your trifling azzes.


11 comments:

DJ Black Adam said...

At least he didn't try to star a "record label" or a "Hair and nail shop"...though the Hair and nail shop more than likely would have made money!

Torrance Stephens - All-Mi-T said...

dumb as dumb can get

Symphony said...

I saw this and just shook my head. It angers me when good help is wasted on the wrong people.

Bernie said...

Man, I remember that episode. It was a good ole boo-hoo.

Not for nothing, but it seems a lot of Black folks in ATL want to live way beyond their means. They get caught up in trying to "look" successful instead of really being successful.

Invisible Woman said...

They were talking about this at work today...I did not know they were Black. Damn!

At least my non-Black coworkers had the discretion not to mention that fact in front of me....

jazine said...

I wonder if this humiliating experience has taught them what true fiscal responsibility is, or will they still be making up a bunch of excuses of being victims? These parents are setting dangerous examples for their children.

I hate to say this, but I know too many black people like this within my own family. SMH

focusedpurpose said...

so...now why did they need 450k to start a business?

these people like most do NOT understand how the banking system works. it is fraud from the beginning and the consumer is not ever meant to win. debt is all that one can end up with in the system as we currently know it. surely they must have sought some kind of advice? ok, obviously not. they are not alone, this is how most americans are drowning in credit card debt and quite a few losing their homes.

BlkSeagoat, i do feel rather sorry for them. the way that you wrote your post was hysterical though, despite the sad circumstances.

blessings,
focusedpurpose

clnmike said...

I feel bad for them actually.

Curious said...

Well I have always wondered about what kind of property tax increase is there from the shit shacks that people used to live in to the mansions that they move in to? And also, who covers Uncle Sams share of the take, 'cause you know he's got to get his share?

That being said, I can see why they needed more money if they were left to cover taxes, but a construction business when housing is down seems kind of stupid. I can't feel sorry for people like that. I only hope that after the sales and the auction they can get enough money to find some place to rent otherwise it'll be another black family at the shelter.

BLKSeaGoat said...

FP,

They were given every opportunity to succeed. Greed brought these people down... not lack of basic financial acumen. Trying to keep up with the Joneses when one doesn't "have a pot to piss in or a window to throw it out of" got these folks hemmed up.

They were given counseling, a fund was provided to them from Beazer to take care of the taxes and maintenance of the house, AND their children were provided college funds by Beazer homes and the Harper's generous neighbors.

Too many folks in metro ATL (many of them black) enjoy keeping up appearances. The housing market began to tank 15 months ago when they took out the loan; why didn't they wait?

Milton Harper was supposed to be a successful home business owner... what happened to his business saavy then?

When they interviewed this fool on the radio, he stated that the reason the house was foreclosed on was because he "praised da lawd fo' duh blessin', but didn't thank da lawd fo duh blessin'. Dats when da lawd had to umble him."

Ridiculousness!!! That's all it was! They get no pass, they are not victims, and we can't blame white folks for this one... if one makes oneself available to be victimized by being greedy and stupid, they are not victims.

Naima said...

What kind of construction business was he trying to start? Building skyscrapers or something? Does it take 450,000 to start a construction business? Aren't the clients charged for the materials?