Foreclosure expert finds herself in trouble

[Liberal_in_LA]

Foreclosure expert finds herself in trouble
Alexis McGee, founder of Foreclosures.com, made a national reputation by helping investors find and buy distressed properties whose owners were struggling to stave off foreclosure. She now finds herself in the same boat.

SACRAMENTO, Calif. — Alexis McGee, founder of Foreclosures.com, made a national reputation by helping investors find and buy distressed properties whose owners were struggling to stave off foreclosure.

Those investors now have an unlikely prize in a large, new Craftsman-style home that's scheduled for sale on the courthouse steps in Fair Oaks, Calif., next month.

The distressed owner?

McGee.

McGee started her website in 1995 as a place for investors to find information on buying distressed properties. The site, which caters to paid subscribers, has grown in popularity. McGee became a renowned expert — writing books, offering seminars and being quoted regularly in media nationwide.

But McGee started having money problems nearly two years ago, records show.

The state in March 2009 filed a lien against her property for $127,000 in unpaid taxes. The federal government last August filed a lien for $210,000 in unpaid taxes.

McGee and her husband went into default in June on their Fair Oaks home and on a property at a resort in Squaw Valley. As of June 15, the two were behind $65,000 on their Fair Oaks mortgage. As of June 28, they were $25,000 delinquent on their resort-property loan.

http://seattletimes.nwsource.com/html/nationworld/2013761790_foreclosure25.html

[Lucinda]

1. This has to end.

:(

[bengalherder]

2. I am sorry.

I cannot hide my smile.

Let's talk about those who live beyond their means, shall we?

[Quantess]

3. It makes sense.

She invested far too much in real estate, overextended herself, and didn't get out in time.

The "house flippers" eventually started losing big time.

[Turbineguy]

4. Hoist

on their own petard?

Irony doesn't shine like goldy.

[Donnachaidh]

5. karma

It comes along and bites those who wish to feed off the problems of others. It may take a little time, but it does happen eventually. :shrug: