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Man Living in Cave Hit by Recession...

Discussion in 'Political Zone' started by JBond, Feb 24, 2009.

  1. JBond

    JBond Well-Known Member

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    For those worried about the Obama regime or Mexico over running us, you may want to take a look. It's a pretty nice cave. Go to the link for pics.

    Man Living in Cave Hit by Recession...

    http://abcnews.go.com/Business/Economy/story?id=6941993&page=1

    You've heard plenty of stories about foreclosures, but the latest victims of this brutal recession are about to lose their cave.

    The mortgage meltdown forces a family's cave to be auctioned off on eBay.

    That's right. For nearly five years, Curt Sleeper and his family have lived in a cave. His mortgage is about to come due and, like millions of other Americans, he can't refinance.

    So now, the 17,000-square-foot, subterranean home is being auctioned off on eBay.

    Click Here for More Photos of the Cave Home

    Sleeper and his wife Deborah bought the cave outside St. Louis in May 2004 for $160,000. To pay for it, they sold their old home, TV and even the DVD collection. They made a 50 percent down payment and borrowed the other $80,000 from the seller. It was a five-year loan with a single balloon payment at the end.

    The Sleepers now have until May 1 to pay off the remaining $83,000 or sell the property. It's not a foreclosure sale yet, but if they can't come up with the money, they risk losing the house.

    Besides the initial $80,000 payment, Sleeper said he spent another $150,000 on renovations to the cave and the surrounding 2.8 acres he owns.

    The original plan was to refinance. But Sleeper, a self-employed computer consultant, said banks struggle to appraise the cave since there aren't any comparable properties nearby or, well any comparable properties at all. So while he might have received a loan two or three years ago, today he is in a bind.

    Right now, banks are not interested in anything odd," Sleeper said.

    Are You Looking to Buy a Home or Worried About Losing Your Home? Share Your Story With ABC News

    He also acknowledges that he's not perfect. His credit score is 650 to 710 thanks to a few blemishes, including a dispute with a cell phone company.

    Now he has turned to eBay.

    Sleeper is asking $300,000 for the home but is also looking preferably for somebody to refinance his mortgage. After all, he and his family did put five years of their lives into building the three-bedroom, two-bathroom house into the cave. (During construction, Sleeper, his wife and their two kids lived in tents in the back of the cave and washed dishes and laundry in buckets. Their third child, a son, was born last week in the cave.)
  2. CowboyFan74

    CowboyFan74 Cowboys Analyst

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    Nice cave. I bet he never turns on the ac:D
  3. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    I would love to have a place like that. That is just wicked.
  4. iceberg

    iceberg detoxed Zone Supporter

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    i've wanted to live in a cave behind a waterfall - add one of those and i'm down for this!
  5. vta

    vta The Proletariat

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    Troglodytes...


    :laugh2:
  6. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    Not in a cave but...

    [IMG]

    Falling Waters built by Frank Lloyd Wright for the Kaufmanns. It is up in Pennsylvania, Maybe cajun has visited it.

    Visited that place when I was young. Pretty cool but I would rather have the cave home.
  7. trickblue

    trickblue Old Testament... Zone Supporter

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    [IMG]
  8. Bob Sacamano

    Bob Sacamano Benched

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    we all want you to live in caves too;)
  9. Signals

    Signals Suspicious looking stranger

    4,588 Messages
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    Cool! you could put in a water wheel and have a hydro powered cave.

    :D
  10. Jarv

    Jarv Loud pipes saves lives. Zone Supporter

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    Weren't Troglodytes from the original star trek ? Nice digs there cave people.
  11. trickblue

    trickblue Old Testament... Zone Supporter

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    I think it was tribbles...

    [IMG]

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