My real estate agent, Beth, sold the monster house to the first owners. She knew the gossip behind the foreclosure. It's a classic case of greed and poor planning on the part of the first owners and stupidity on the part of the banks. The dude had already been foreclosed on twice in other states. He moved to Ithaca and tried to get financing from a local bank to buy brand new monster house with 5% down payment. They turned him down. He went through an internet bank, who then sold his mortgage to the same bank that turned him down. D'ohhh! They moved into the house, his wife had twins, he lost his job, and then lost the house. Somewhere along the line they filled up the house with a ton of fancy stuff, as evidenced by the pictures.
I'm sympathetic about him losing his job, but the rest is so out of whack that I don't even need to snark