You've heard plenty of stories about foreclosures, but the latest victims of this brutal recession are about to lose their cave they bought on eBay.
That's right. For nearly five years, Charles Finny and his family have lived in a cave. His mortgage is about to come due and, like millions of other Americans, he can't pay nor refinance.
Finny and his wife Beatrice bought the cave 50 miles north of St. Louis in May 2004 for $120,000 apparently from Bernie Madoff, although it was under a fake company name. Madoff then sold the mortgage to Freddie Mac the same year.
"We didn't even know it was a cave until we came to move in and there was a bear walking out.", stated Finney. "We just saw what looked like a bargain from the inside pics of the furniture, carpeting, window view, cheap utilities, etc. on eBay."
To pay for it, they sold their old home, TV, the house pet, Dino and even their DVD and rock collection. They made a 50 percent down payment and borrowed the other $60,000 from the seller. It was a five-year loan with a single balloon payment at the end.
"We'll miss them", stated next door neighbors, the Rubbles. "We own our cave. It"s been in the family since forever."