NBC Chicago brings the sad, sad story of Linda Hatchell, a woman in the Chicago suburb of Glen Ellyn, Ill., who may face foreclosure on an 1895 Victorian house that she bought for $1. Hatchell came across the dilapidated old house in the late '80s, when it was owned by Glen Ellyn Bible Church and facing threats of demolition. She offered to buy it for its sale price—one single dollar—so long as she could get permits to have it moved 1.5 miles down Main Street to its current home, an expense that cost her $50K alone. Fascinated with period architecture and antiques, she gutted the entire thing, eventually refinancing and taking out a second mortgage to pay for the work. Despite mounting medical bills after being diagnosed with cancer, Hatchell has been able to keep up with all her monthly mortgage payments—except, heartbreakingly, the final one. The bank is now threatening to foreclose; watch the local news coverage after the jump.
The video:
· Home Bought for $1 Threatened by Foreclosure [NBC Chicago via AOL Real Estate]
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