Just because a person makes $80 million playing pro-football doesn't mean they are immune to the current foreclosure crisis.
Terrell Owens, star wide-receiver, will lose two of his
Dallas condominiums to foreclosure, according to RealtyTrac, an agency that
tracks foreclosures. The up-scale condos located just three miles apart will be
auctioned on March 3rd.
Sports figures like many other people, who must hire a foreclosure attorney, fall on hard
times. According to the Huffington Post, three-fourths of football players lose
their fortune within two years after they retire. Sixty percent of NBA players
lose their fortunes within five years of retirement.
Owens revealed in a GQ feature that he lost the majority of
his fortune because of bad investments and high child support payments. He
stated that the high mortgage payments on multiple properties can no longer be
sustained. He sold a property on New Jersey for half of its worth and has put
an Atlanta area home on the market.
Further exacerbating his financial situation, Owens has been
moved around from team to team and has been unemployed since last year due to a
Owens isn’t alone; over 1.4 million people are in need of a foreclosure lawyer and in the process
of defaulting on their mortgage loans. Medical problems and unemployment
contribute to the rising number of foreclosures and people, who are facing
these obstacles, can hire a foreclosure attorney to help them fight for their homes.