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Posted: 6:15 p.m. Thursday, Oct. 25, 2012
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SEMINOLE COUNTY, FLA. —
An Altamonte Springs home that was featured on ABC’s “Extreme Makeover: Home Edition” did not sell at an auction on Thursday.
WFTV learned owner Sadie Holmes owed $200,000 on the house that was given to her.
Six years after the big reveal, the home was officially foreclosed on after no one bid on the $229,000 home at a foreclosure auction.
Now, the lender owns the home, but there are still a few options for Holmes.
She can either work with the lender on some kind of rent agreement or she has 10 days to raise $200,000 and challenge the foreclosure.
If all else fails, Holmes will be forced to move.
“(Sadie) doesn't know what could happen, and she is not giving up,” said real estate broker Nestrine Blair. “Sadie is not about to give up.”
When Holmes received the brand-new mansion in 2006 to help with her food pantry outreach program, she said she felt "like a baby in a candy store."
"I'll never forget that," Holmes said.
Holmes received the custom-designed house free and clear, but she said the larger food pantry brought more people to serve and more expenses -- expenses she said she couldn't cover.
Holmes took out a $50,000 mortgage on the house. When she couldn't keep up with the payments, that loan ballooned into a $200,000 debt.
Holmes was asked if she regretted taking out the loan.
"No, I can't say I regret it, because I did it to support the ministry. My ministry is who I am, it's my heart, it's my passion."
She said if she had to do it again, she would.
Holmes said hundreds of people depend on the food pantry each month. She said she's worried about how she's going to feed them without a freezer to store food.
Susie Bailey lives at a group home run by Holmes at a different location, and said Holmes has always been there for her.
Holmes uses food stored at the home for the residents.
"She's gotten me off the street, put a roof over my head," Bailey said.
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