Foreclosure Story- Don Cruz HGTV Dream Home

foreclosure

I often watched HGTV’s Dream Home with my family around the dinner table growing up. My mom loved everything about HGTV and the whole family enjoyed the heart-warming stories found on Dream Home. However, I never knew that, in most cases, the family receiving the home turns right around and sells the home as soon as the cameras are turned off. Typically, as this article explains, the mortgage payments are too high and so most winners sell the house, and use the money to buy a more affordable home. Nevertheless, Don Cruz and his family decided to make the house they won on the show home. Then shortly after the show, Don Cruz’ family piled up multiple medical bills. His father got cancer and his wife needed brain surgery. To pay for these operations and other monthly expenses, Mr. Cruz used money from the mortgage loan on the house and fell four months behind on monthly payments. On top of that, the housing market quickly took a downturn which dropped the value of the house from $5 million to $1.43 million. All these factors combined to force the Cruz’ home to be foreclosed on in a non-judicial procedure. When, asked about the sequence of events, Don Cruz said his family would just about break even after the foreclosure sale and maintained that the house was a blessing.

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