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| Lance Briggs needs mo' money? http://chicagofanatics.com/viewtopic.php?f=75&t=116839 |
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| Author: | rogar6 [ Tue Mar 19, 2019 4:02 pm ] |
| Post subject: | Lance Briggs needs mo' money? |
https://patch.com/illinois/winnetka/for ... s-approval I figured he was a multi millionaire but he has two places on the North Shore in foreclosure. |
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| Author: | GoldenJet [ Tue Mar 19, 2019 4:14 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. |
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| Author: | rogar6 [ Tue Mar 19, 2019 4:30 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
That's an interesting point. I suppose as long as you currently have a house or two that are not in foreclosure, well invested and have some spending money, conceivably, he could go the rest of his life without ever needing a loan. Perhaps he's a genius and this topic should go in the shout out section 
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| Author: | IMU [ Tue Mar 19, 2019 4:44 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
https://www.bizjournals.com/sacramento/ ... close.html Bad business decisions. |
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| Author: | vitoscotti [ Tue Mar 19, 2019 5:32 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
GoldenJet wrote: Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. Damaged credit, might still owe money if proceeds aren't sufficient, tax consequences, stigma to reputation. NFL player bankruptcy or financial problems is in the 70s%. The linked article said he's complained about CTE symptoms. Don't see the rosy picture you paint |
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| Author: | Zippy-The-Pinhead [ Tue Mar 19, 2019 5:48 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
I bet the percentage of athletes who purchase $350,000 Lamborghini’s during their playing career and ultimately end up broke is pretty high. Throw in a restaurant and it’s almost a sure bet. |
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| Author: | Chet Coppock's Fur Coat [ Tue Mar 19, 2019 5:52 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
He bought almost at the top of the market. I'm not surprised that he decided to let the places go if he's underwater and couldn't find a steady renter. |
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| Author: | WaitingforRuffcorn [ Tue Mar 19, 2019 5:54 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
He'll be bankrupt soon. It's sad. |
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| Author: | pittmike [ Tue Mar 19, 2019 6:27 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
WaitingforRuffcorn wrote: He'll be bankrupt soon. It's sad. It is. Players going for life changing generational riches sacrificing their bodies and minds. You can’t really force savings or anything else but I’d like to see less of this. |
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| Author: | vitoscotti [ Tue Mar 19, 2019 6:34 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
Lance Briggs is a regular with Julie & Maggie on football season remotes. That should have been a red flag something was wrong. |
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| Author: | 312player [ Tue Mar 19, 2019 6:42 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
GoldenJet wrote: Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. Lol wut |
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| Author: | 312player [ Tue Mar 19, 2019 6:43 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
Chet Coppock's Fur Coat wrote: He bought almost at the top of the market. I'm not surprised that he decided to let the places go if he's underwater and couldn't find a steady renter. Fool Money Always knew he was a dummy from hearing him speak. How is it even possible to have no equity in all these real estate transactions? |
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| Author: | vitoscotti [ Tue Mar 19, 2019 6:54 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
GoldenJet wrote: Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. You need to go immediately to the emergency hospital and have your brain scanned. |
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| Author: | WaitingforRuffcorn [ Tue Mar 19, 2019 6:57 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
vitoscotti wrote: Lance Briggs is a regular with Julie & Maggie on football season remotes. That should have been a red flag something was wrong. Yep. It’s the equivalent of a former actress webcaming with fans tips. |
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| Author: | Urlacher's missing neck [ Tue Mar 19, 2019 6:58 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
vitoscotti wrote: Lance Briggs is a regular with Julie & Maggie on football season remotes. That should have been a red flag something was wrong. I don't even think Virgil would sit in with those 2 for a quick check. |
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| Author: | Jaw Breaker [ Tue Mar 19, 2019 7:47 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
vitoscotti wrote: GoldenJet wrote: Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. You need to go immediately to the emergency hospital and have your brain scanned. GoldenJet is right. If a bank is willing to make a non recourse loan (meaning they only hold the property as collateral and can’t go after other assets if he walks away), then it’s smart for him to default if he’s hopelessly under water. I agree he’ll soon be broke, though. |
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| Author: | pittmike [ Tue Mar 19, 2019 8:08 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
Bankruptcy can be a strategic move you know. |
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| Author: | 312player [ Tue Mar 19, 2019 8:16 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
Jaw Breaker wrote: vitoscotti wrote: GoldenJet wrote: Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. You need to go immediately to the emergency hospital and have your brain scanned. GoldenJet is right. If a bank is willing to make a non recourse loan (meaning they only hold the property as collateral and can’t go after other assets if he walks away), then it’s smart for him to default if he’s hopelessly under water. I agree he’ll soon be broke, though. If you have dough a bank isn't going to let you walk free n clear..there will be a judgement. I don't understand how a guy can buy property in good areas that has appreciated in value over the last 15 years and is upside down. I'm sure he's an idiot, I knew that after the Lamborghini in the Eisenhower and his BBQ restaurant. He must have taken out 2nd n third mortgages and that broke dick can't afford the taxes and mortgage payments. I don't feel sorry for him. Like urlacher, he was a hell of a football player that came across as a real dumbass Everytime I heard them speak. |
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| Author: | 312player [ Tue Mar 19, 2019 8:17 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
pittmike wrote: Bankruptcy can be a strategic move you know. Sure..if you have a LLC and a failed business and you default. Residential? No chance. I know there are different chapters but he's going broke. |
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| Author: | badrogue17 [ Tue Mar 19, 2019 9:05 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
After he was drafted 63rd overall out of the University of Arizona, the retired Pro Bowler spent his entire 12-year career with the Bears, becoming one of the captains of the team's defense and earning more than $52 million over three contracts, according to the website Spotrac. |
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| Author: | Spaulding [ Tue Mar 19, 2019 9:39 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
That's too bad. I liked him as a player (mostly) and he seemed decent enough in interviews and charity work. |
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| Author: | Ogie Oglethorpe [ Tue Mar 19, 2019 10:39 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
No wonder he was willing to set between Julie and Maggie at a few remotes. Man really must be desperate |
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| Author: | Drake LaRrieta [ Tue Mar 19, 2019 10:49 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
I wonder what the property taxes are on those two places. If I remember correctly MJ's house is still for sale. Rich houses are tough to move. More expensive means fewer buyers. |
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| Author: | vitoscotti [ Tue Mar 19, 2019 10:58 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
In Briggs early Bear's years. He was a post game on field interview. At the end the guy gives him a $20 gift card. Brigg's says "what am I gonna do with that? " Instead of being gracious, he was a prick to the guy on air. |
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| Author: | GoldenJet [ Tue Mar 19, 2019 11:51 pm ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
312player wrote: Jaw Breaker wrote: vitoscotti wrote: GoldenJet wrote: Sometimes it's cheaper to just let them go back to the lender. That's how he can stay a multimillionaire. You need to go immediately to the emergency hospital and have your brain scanned. GoldenJet is right. If a bank is willing to make a non recourse loan (meaning they only hold the property as collateral and can’t go after other assets if he walks away), then it’s smart for him to default if he’s hopelessly under water. I agree he’ll soon be broke, though. If you have dough a bank isn't going to let you walk free n clear..there will be a judgement. I don't understand how a guy can buy property in good areas that has appreciated in value over the last 15 years and is upside down. I'm sure he's an idiot, I knew that after the Lamborghini in the Eisenhower and his BBQ restaurant. He must have taken out 2nd n third mortgages and that broke dick can't afford the taxes and mortgage payments. I don't feel sorry for him. Like urlacher, he was a hell of a football player that came across as a real dumbass Everytime I heard them speak. Lots of ignorance in this post. Keep up the solid work 312. |
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| Author: | vitoscotti [ Wed Mar 20, 2019 4:47 am ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
These financially illiterate athletes put faith in their shady advisors that lead them to risky investments that aren't transparent they can skim off of. They're not smart enough to build a diversified portfolio of low cost index stock and bond funds or ETFs at a discount brokerage, or no load mutual fund company. |
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| Author: | a retard [ Wed Mar 20, 2019 6:07 am ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
312player wrote: ...I'm sure he's an idiot, I knew that after the Lamborghini in the Eisenhower ...he was a hell of a football player that came across as a real dumbass .. MANY dumbasses. It was the Edens. Or are you referring to his Porsche that crashed into a bartending school at 5:40 am? http://www.fox32chicago.com/news/local/ ... ing-school |
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| Author: | badrogue17 [ Wed Mar 20, 2019 6:14 am ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
Besides Ditka and Jordan , has any athlete ever had a good run as a restauranter in this city ? It’s such a ridiculous vanity investment . If they have such a jones to open up food establishments they should go the Junior Bridgeman route and open up McDonald’s or Wendy’s but then again you can’t pick up hot women in those kind of restaurants as the big shot owner can you ? |
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| Author: | 312player [ Wed Mar 20, 2019 6:22 am ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
I know nothing about running a restaurant, but I know enough that you have to basically live there and watch over everything or you get robbed blind. The Greeks hire family and spend 18 hours a day in their joints..that's how they stay open. |
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| Author: | 312player [ Wed Mar 20, 2019 6:38 am ] |
| Post subject: | Re: Lance Briggs needs mo' money? |
a genius wrote: 312player wrote: ...I'm sure he's an idiot, I knew that after the Lamborghini in the Eisenhower ...he was a hell of a football player that came across as a real dumbass .. MANY dumbasses. It was the Edens. Or are you referring to his Porsche that crashed into a bartending school at 5:40 am? http://www.fox32chicago.com/news/local/ ... ing-school It was the Lamborghini I was thinking, he initially reported stolen..then thought better. I didn't know about the Porsche. Guy is an idiot. |
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