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  #1  
Old 06-19-2008, 09:33 AM
brian brian is offline
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Default Celebrity foreclosures

It's not just normal Americans feeling the pinch - MSNBC lists a few "celebrity foreclosures" which includes Michael Jackson, Evander Holyfield, and Aretha Franklin:
MSNBC - Fallen Stars: Celebrity Foreclosures Front Page
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  #2  
Old 06-19-2008, 05:41 PM
spencer24 spencer24 is offline
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Default Re: Celebrity foreclosures

When most people hear the word foreclosure, they usually associate it with low-income families and poor people in general. The truth is that anybody can be in financial trouble no matter how high their income is.
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Old 06-19-2008, 06:18 PM
brian brian is offline
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Default Re: Celebrity foreclosures

Indeed - it seems surprising when high income earners appear to struggle as well.

Was really surprised to see Aretha Franklin on there - and even more surprised to see one of the sports players simply decide it wasn't worth paying the mortgage on his home. I can only presume its value had plummeted to well below the real estate value as prices sink.
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Old 07-14-2008, 09:33 AM
rachael24 rachael24 is offline
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Default Re: Celebrity foreclosures

Well most athletes have no regard for money, like Mike Tyson. He owned 3 tigers and paid cell phone bills for 1,000 of his friends. The money runs dry fast when your career slips.
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Old 07-23-2008, 09:21 AM
david007 david007 is offline
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Default Re: Celebrity foreclosures

Quote:
Originally Posted by spencer24 View Post
When most people hear the word foreclosure, they usually associate it with low-income families and poor people in general. The truth is that anybody can be in financial trouble no matter how high their income is.
Absolutely right.

It is all about managing your own finance.
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Old 09-09-2008, 03:46 AM
patriotsrock patriotsrock is offline
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Default Re: Celebrity foreclosures

Quote:
Originally Posted by david007 View Post
Absolutely right.

It is all about managing your own finance.
very true.
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  #7  
Old 09-12-2008, 01:07 PM
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40 oz. To Freedom 40 oz. To Freedom is offline
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Default Re: Celebrity foreclosures

Quote:
Originally Posted by patriotsrock View Post
very true.
I totally agree...

How about some genuine discussion here guys? I mean the thread I assume was meant to be a commentary on foreclosure, but I may be wrong.
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Old 09-13-2008, 08:06 PM
Coop Coop is offline
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Default Re: Celebrity foreclosures

It amazes me how people with such high incomes can be so stupid and go into financial trouble. All they have to do is save SOME of that income and they would be fine for the rest of their lives.
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Old 10-17-2008, 07:35 PM
jadalan jadalan is offline
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Default Re: Celebrity foreclosures

Quote:
Originally Posted by 40 oz. To Freedom View Post
I totally agree...

How about some genuine discussion here guys? I mean the thread I assume was meant to be a commentary on foreclosure, but I may be wrong.
I agree with you - ha i was just noticing that same thing.

It is pretty scary when you also have Peter Schiff telling people to stop paying their mortgages (albeit in a somewhat biting, sarcastic manner - i would post a link but im a newbie and can't yet, so search for it). It would be great to see some statistics and be able to measure the influence that these stories have on people's willingness to walk away, and to do so with a bit less shame.
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Old 12-06-2008, 04:43 AM
MoneyTrev MoneyTrev is offline
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Default Re: Celebrity foreclosures

These kind of articles should be showed to people more. shows that even rich people can have problems living financially stable.
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Old 03-08-2009, 04:43 PM
singlemom singlemom is offline
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Default Re: Celebrity foreclosures

Yeah it's bad to say but this is good to see.

You need to be smart with your finances and not just go crazy when you have a little extra to spend.
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Old 04-29-2009, 12:35 PM
DFrancis DFrancis is offline
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Default Re: Celebrity foreclosures

No matter who you are, money will always be finite.
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Old 04-29-2009, 05:40 PM
emilywebster emilywebster is offline
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Default Re: Celebrity foreclosures

Celebrities seems to have so much of money but still have to go through foreclosure. We have to earn through out our life and they can earn that much in a month. But still they struggle.
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Old 09-08-2009, 09:31 PM
ezl123 ezl123 is offline
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Default Re: Celebrity foreclosures

Probably the best investment any of these celebrities could make would be to hire a financial adviser! LOL - It's sad to see people lose all their money so quick.
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  #15  
Old 09-09-2009, 03:29 AM
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BabyStep6 BabyStep6 is offline
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Default Re: Celebrity foreclosures

Too many people who make a lot of money, who have never had money have no idea how to handle it. I've seen many friends in my line of work (I'm included) who exited the Navy, to get a job that made 6 figures, only to piss that money away. Some of us woke up, some didn't. I know a few people that have been foreclosed on, and declared bankruptcy, and should have been wealthy. Its sad.
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