More Financial Items

The lake house is officially foreclosed on. It disappeared from the real estate listings last month, a few weeks after MckMama said they were “now at our old (empty!) house getting a few of our things.” (from Twitter)

The lake house was released as a foreclosure as of 02/10/2010, and is now listed at $282,000, nearly half the price of the new home they purchased.

New listing for the foreclosed home.

And another.

In her own words, on how they bought the new house:

The money we had saved to attempt to keep our old house, we were able to use as a down payment for this one once we decided to move. We were able to get a loan that is not conventional, using both my husband’s and my income. As you know, my blog has advertisements, and that money, even though to this point we have given most of it away as I have mentioned before, is counted as income, exactly as if I were still teaching art at the elementary school where I used to work.

Considering the house didn’t foreclose until the last 30 days, it would appear they had months and months (since August) to “attempt to keep” their old house. They just didn’t want to.

In late 2008, MckMama had her Escalade repossessed and borrowed from her husband’s mother (and now owns) a 1999 minivan. She’s now talking about replacing it with another vehicle: “a used vehicle for our soon to be family of seven.” (from Twitter)

Oh, and one more: a federal tax lien in the amount of $52,207.00 was filed by the IRS against MckMama and her husband on 5/4/09.

Some Biblical passages on fraud that MckMama might want to read:

Leviticus 6:2-5, Psalm 10:3-11, 1 Thessalonians 4:6 and especially:
Psalm 37:21 – The wicked borrow and do not repay, but the righteous give generously.

Don’t you wish you could just not pay your bills, then dump everything and start anew? A $500,000 brand new house, new vehicles, four trips in four months, food delivery services, eating out regularly . . . I thought that kind of lifestyle only belonged to lottery winners.

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