2007-12-03 11:37:33 · 8 answers · asked by Anonymous in Entertainment & Music ➔ Television ➔ Reality Television
I believe that the mortgage is paid off but the "show" holds the mortgage in their name for like a year. This prevents the people ("Owners") from selling the house right away to make a profit. Also, if the person who will own the house dies before the year is up it doesn't go to the family it goes back to the "show".
2007-12-03 11:53:52 · answer #1 · answered by Cali_Flwr 4 · 0⤊ 3⤋
not per se the house but the land that the house was built on if they already didn't own it. We had a family in this town that had the Extreme Makeover done and the family luckily owned the land. I believe the community raised enough money to pay off the mortage of the old house so the new house was free and clear. Some do have to pay, it all depends on ability.
2007-12-03 19:46:12 · answer #2 · answered by ♥STREAKER♥©℗† 7 · 2⤊ 0⤋
No, they do however have to continue to pay the mortgage payments on the original structure. As the mortgage company looks at it like home improvements. What do they care as long as they get their money and the place is worth more than they loaned on it.
It's just sometimes they also get their mortgage paid off. It's a tax right off thing.
2007-12-03 19:46:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They always had a mortgage and they will have to continue paying their mortgage, yes, that is ture. However, in some cases the builders have paid off the mortgage. But, they don't have to pay for any of the building, or furniture, or anything new that's been done to the home.
2007-12-03 19:44:22 · answer #4 · answered by luv2help 5 · 2⤊ 0⤋
I don't think so - I never heard that.
Thay may have to pay an existing morgage or something like that if they have one.
Its a charity
2007-12-03 19:44:01 · answer #5 · answered by Anonymous · 1⤊ 0⤋
yep, but some of them get their mortgages paid off.
2007-12-04 12:57:16 · answer #6 · answered by BoosGrammy 7 · 0⤊ 0⤋
yes
2007-12-03 19:39:32 · answer #7 · answered by fred 3 · 0⤊ 2⤋
Not that I know of.
2007-12-03 19:39:57 · answer #8 · answered by Heather N 2 · 0⤊ 0⤋