An eastern Missouri family expects they'll be able to stay in their home built inside a cave after accepting an offer of a private mortgage contract. Curt Sleeper said Tuesday that a New Jersey-based business offered a 15-year loan with a low interest rate that should allow the family to keep their home in Festus, about 30 miles south of St. Louis.
"We're excited about it." To celebrate: "We're throwing a party at a friend's cave," he said.
Curt and Deborah Sleeper fell in love with the unique geography of an old mining cave in 2004 and figured out how to build a house inside of it. But they were having trouble making a large payment that was coming due on the property, prompting them to put their home up for auction on eBay.
They no longer plan to auction the home through the Web site, but Sleeper says the house will remain there until paperwork is completed on the loan.
Jon Demarest, owner of Logical Source Inc., confirmed that his the Fairfield, N.J.-based archiving and medical record company offered the Sleepers a mortgage.