Extreme Makeover Family Facing Foreclosure

[sabra]

Source: wxyz

(WXYZ) An Oak Park family who received a Extreme Makeover for their home is now in danger of losing it to foreclosure.

Larry and Judy Vardon got into financial trouble because of extensive medical bills for their youngest son, Lance. The 16 year old is blind and autistic. His medical treatments are not covered by their insurance.

The Vardons were also hit by the subprime housing crisis. Their mortgage rate jumped to 11 percent after it adjusted. Larry Vardon is also worried about being laid off from his job at the Chrysler Stamping Plant in Sterling Heights.

Many of the Vardons' neighbors had thought that their mortgage was paid off when they appeared on the show in November 2004, but that was not the case. Now the home is one of the 390 in Oak Park currently in foreclosure.

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Their problems stem from after their appearance on the show when they remortgaged the house. The needed the extra money when Larry was laid off. Since then the mortgage has been resold to different companies three times, with the interest rate jumping each time.



Read more: http://www.wxyz.com/news/local/story/Extreme-Makeover-Family-Facing-Foreclosure/rmDc6vh40UOtwBO1XcT6dg.cspx