Brian Gongol
Family turns free $450,000 house into foreclosure
They won the home through the TV show "Extreme Makeover: Home Edition" in 2005, yet somehow managed to take out a second mortgage on the value of the home and lose that money on a business venture. Compare that to how hard the people of Charles City, Iowa, worked to rebuild after a huge part of their town was destroyed by a tornado in 1968, or how the people of Parkersburg, Iowa, are putting things back together just two months after a similar tornado. The "Extreme Makeover" situation only seems to contribute to the mountain of evidence that many Americans are financially illiterate.
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