No luck selling your $1.2 million dollar home in this economy? Raffle it off!The Edgewater Maryland property is the grand prize in a raffle by We Care and Friends, a charity focused on at-risk youths, and Tom Walters, a mortgage broker who opted to put his property in a lottery during these tough times.
We Care and Friends, an Annapolis-based charity was to earn 10% of the proceeds if the lottery sold 31,500 tickets. The lottery sold only 24,000 tickets, so the 10% of the charity proceeds are still to be determined.
Who won the home? Karen McHale, 47, won the 6,000-square-foot home, after purchasing a $100 raffle ticket to help out the charity. She didn't tell her husband about the ticket, although he was thrilled when he learned she had just won a home.
Karen McHale and her husband have no intention of moving into the home and leaving Colorado. Two sons live nearby, and both she and her husband hold jobs as engineers. She will use the cash to pay off the debt in her own house, or pay for her son's upcoming wedding.
Check out the Washington Post article here
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