Where’d the Refinanced Money Go?

December 6th, 2012 · 3 Comments

Mesa, Arizona home.  They paid $114,000 for it in 1993.  By 2006, the mortgage balance should be down to at least $100,000?  They refinanced in 2006 at $234,000.  That means they should have $134,000 for home remodeling?  Let’s take a look.

Here’s how the house looks in 2012.  They sold it as a short sale.  Did they remodel the kitchen?  Original cabinets.  New lighting?

messy junk garbage stuff all over trashy kitchen Mesa Arizona home house for sale photo

Carpet looks original.  No remodeling done here.

messy junk garbage stuff all over trashy living room Mesa Arizona home house for sale photo

New flooring in the dining room?  No.

messy junk garbage stuff all over trashy dining room Mesa Arizona home house for sale photo

Remodeled bathroom?  No.

messy junk garbage stuff all over trashy bathroom Mesa Arizona home house for sale photo

How about this bathroom?  No.

messy junk garbage stuff all over trashy bathroom Mesa Arizona home house for sale photo

Junky bonus room.

messy junk garbage stuff all over trashy bonus room Mesa Arizona home house for sale photo

Master bedroom.

messy junk garbage stuff all over trashy bedroom Mesa Arizona home house for sale photo

Other bedroom.

messy junk garbage stuff all over trashy bedroom Mesa Arizona home house for sale photo

Neglected bedroom.

messy junk garbage stuff all over trashy bedroom Mesa Arizona home house for sale photo

If you’re asking the bank to forgive your loan, wouldn’t you want the house to look good?  “Look, we took the $134,000 cash and didn’t spend it on the house, but we’ve made the house look really nice and clean so you can sell it at a better price.”

messy junk garbage stuff all over trashy bedroom Mesa Arizona home house for sale photo

Tags: Staging · Bathroom · Family Room · Kitchen · Bedroom · Clutter · Mesa, AZ Homes · Garbage and/or Junk

3 responses so far ↓

  • 1 Murphy // Dec 6, 2012 at 1:55 pm

    I’m guessing he got the house in the divorce, she took the good furniture. He bought a Harley and hasn’t looked back since!

  • 2 mo // Dec 6, 2012 at 8:23 pm

    HA!!! So busted!!
    LOVE it when you post these!
    I am tired of all these people, (some of them our friends?) who blame
    the banks,
    boohoo, they won’t work with us!!
    At least one has paid cash for the new house,
    more than one has bought another, then walked away from the last one.
    arghhhh

  • 3 Greeney // Dec 6, 2012 at 11:57 pm

    It looks like these people are really poor. They should never have refinanced it. They couldn’t afford it to begin with.

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