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    Renting & Real Estate

    Question

    Do the families on Extreme Makeover: Home Edition have to pay for there new house?
    I was reading this blog and I dont understand: http://tv.yahoo.com/blog/harsh-reality-f… I get they have to pay the utilities and property taxe increase do to the value of there home going up and I get that they can take out 2nd mortgages if they choose to since the value of there home has gone up. But do they have to pay for the remolding work done originally or are they just responsible for there original mortgage?
    a few seconds ago 3 Answers

    Best Answer

    Chosen by Asker
    The value of those improvements are income. Same as if you went on a game show and won a new car. They do not have to pay for the work directly, but they pay TAXES on the value of the work performed.
    a few seconds ago

    Other Answers

    • They are only responsible for their original mortgage. Sometimes the show or the home builder pays this off for them which means they own the home free and clear. They also have to pay property taxes (which probably increase after the show due to the fact that the new home is worth more than the old one).

      by Heather - 8 hours ago

    • There is a place. Their is ownership. Yes, they must pay the mortgage on THEIR home. It is not remolding. Neither is it remodeling. They totally destroy the old house and build a new one.

      by knowitall - 8 hours ago

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