House Bought For a Buck Now Faces Foreclosure

By Samantha Abernethy in News on Sep 8, 2011 7:20PM

In 1989, a Glen Ellyn woman bought her dream house for $1 and spent another $50,000 to have it moved to a new plot. With just one year left on her mortgage, she hit financial roadblocks, and now the the bank is breathing down her neck. Her two-story Victorian dream house is on the market. Via NBC Chicago:

She worked several jobs, took out credit cards, a mortgage, and even refinanced to help pay for the house.

Fast forward to 2005, [Linda] Hatchell lost her job in the loan industry, and then in 2009, a doctor confirmed her worst fears: cancer. Medical expenses began to mount alongside the cost of her dream home.

Then the bank began to threaten foreclosure.

The house is gorgeous. You can see video of it with the NBC Chicago story. It was built in 1895, and it was sold for $1 because the city would not grant demolition permits because of the history attached to it. When Hatchell bought it, the stipulation was that she move it. An adorable touch: She paid for the house in coins minted in 1895.

We've heard so many sad foreclosure stories in recent years, but this one especially hurts our hearts. Now that we may have entered a "double-dip recession," we'll surely have our hearts broken again.