Foreclosures.com founder is herself going through foreclosure
Alexis McGee founded the website Foreclosures.com in 1995 to inform the public about the housing market, foreclosures and investing. Apparently she didn't hew closely enough to her own advice.
McGee is herself going through a foreclosure, according to the Sacramento Bee. She and her husband owe $1.7 million on their Fair Oaks home, and defaulted on a $1.6-million loan in June. It might seem strange for a woman who, on her own website, is said to be "a 25+ year veteran of foreclosure investing and knows what works and what does not."
A search of the Sacramento Grantor-Grantee index shows that the Bee is right. A notice of default was filed against Alexis and Timothy McGee on June 15, and a notice of trustee's sale was filed on Dec. 14. Federal and state governments put $544,000 of tax liens against the McGees' house.
Alexis McGee is the author of the books "Guide to Advanced Investing Techniques You Won't Learn Anywhere Else" and "Guide to Making Huge Profits Investing in Pre-Foreclosures -- Without Selling Your Soul." Her company also offers strategy calls about "mastering foreclosures" -- all for just $499 for 12 calls (one call is $99).
McGee may be losing her house, but Foreclosures.com is still up and running. In a recent blog post written by McGee, she says the tide has turned in the housing market.
Have you read the recent report stating that the US housing market will improve in 2011. I am happy. So should you be! (Learn more tonight in my Free Foreclosure Investor Webinar. Details Here.)
McGee did not return calls seeking comment. But if we had to hazard a guess, we'd paraphrase Jimmy McMillan: Perhaps The Rent Was Just Too Damn High?
-- Alana Semuels
Photo by respres via Flickr