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Old 03-19-2013, 01:04 AM   #1
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Default Joey Porter faces foreclosure on Miami home

Joey Porter faces foreclosure on Miami home

Posted by Michael David Smith on March 18, 2013

Joey Porter, a former NFL linebacker who made tens of millions of dollars in his career, is once again facing financial problems.

Porter is facing a foreclosure lawsuit on a home he bought in Broward County shortly after signing with the Dolphins in 2007, according to the South Florida Business Journal. Porter got a $12 million signing bonus when he joined the Dolphins and could have used the money to buy the home outright, but he instead took out a $2.8 million mortgage. Boca Raton-based 1st United Bank says Porter hasnít been making payments on that mortgage.

The home is in a gated community, and the homeownersí association says Porter hasnít been paying his dues. Itís the same gated community where former Dolphins quarterback Daunte Culpepper also bought a home that is now in foreclosure.

This is the second indication in the last few months that Porter is having financial difficulties. Just before Christmas he was arrested for writing bad checks to a Vegas casino, although he was released when he came up with the money he owed.

Porter played 13 seasons in the NFL, eight with the Steelers, three with the Dolphins and two with the Cardinals.

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Old 03-19-2013, 02:21 AM   #2
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Default Re: Joey Porter faces foreclosure on Miami home

It's unbelievable as to how stupid these players can be. They make millions and they blow it all. Terrell Owens is in the same boat. Millions!....man.
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Old 03-19-2013, 02:28 AM   #3
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Default Re: Joey Porter faces foreclosure on Miami home

With this current line-up of unmotivated losers... I would certainly welcome a Joey Porter in the mix. This current Steeler team lacks "heart"... JP... is a motivator !

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Old 03-19-2013, 03:29 AM   #4
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Default Re: Joey Porter faces foreclosure on Miami home

This thread is already posted in the nfl forum but I will leave it here as well unless another mod or administrator wants it moved.
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Old 03-19-2013, 05:26 AM   #5
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Default Re: Joey Porter faces foreclosure on Miami home

I do NOT want Joey Porter back. He wqs great while he was here but he is old as **** now.

Id like to believe if I was a Millionaire I would build a $400,000 on 15 acres od wide open, Fenced in land (nice fencing, not that chain link junk) and save a large portion of my money. I would definitely travel around the world with my wife and son.

I agree these players are very irresponsible with their money. They take it for granted.
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Old 03-19-2013, 08:37 AM   #6
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Default Re: Joey Porter faces foreclosure on Miami home

i can't even comprehend how dumb stories like this are. I just don't even know what to say.
They lose it - they deserve to lose it. There's no excuse - at all.
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Old 03-19-2013, 09:17 AM   #7
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Default Re: Joey Porter faces foreclosure on Miami home

Theres a good ESPN 30 for 30 documentary on how most athletes squander their wealth.

One of the smartest guys I saw a story on was former MLB catcher Ernie Witt. His financial advisor setup an annuity that he and his family got $100,000 a year to live on and the rest of his MLB salary went to his bank and investments. Probably doesnt need to work for the rest of his life....unless he got divorced.
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Old 03-19-2013, 09:18 AM   #8
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Default Re: Joey Porter faces foreclosure on Miami home

When you stop and think about it; it's not all that difficult to figure out why these athletes squander away their millions so often.

In the real world, to obtain the kind of wealth that star NFL players make, it takes intelligence. Dumbasses do not own multi-million dollar companies or hold executive positions. Yeah, sometimes they come off as dumbasses based on poor decision making in their private lives or in the workplace; but generally speaking, they are more often than not well-educated and intelligent people. They have the knowledge and education to handle their income in an intelligent manner.

With athletes, especially basketball and football, these guys lack the intelligence, education and upbringing that is necessary to obtain the kind of wealth they do. Most of them are brought up in shitty environments where common sense and intelligence is non-existent. Let's be honest, 99.9% of these players wouldn't be earning anywhere near what they are now without their athletic skills. They don't have the intelligence required to rise to that level in other workplace fields. You can hand them millions and millions of dollars, but they won't have any clue what to do with it. They think back to their roots, where the majority of their parents or parent never saved a dime and the attitude was spend, spend, spend without a care in the world. They are given more money than they ever dreamed of having, and now they don't know what to do with themselves. They also assume the monster paychecks will keep coming forever. They don't look far enough into the future at retirement until it's too late.

It's the same kind of thing that happens to lottery winners who blow it all. Most don't have the intelligence to actually earn that kind of money, yet they are handed it all at once and don't know what to do. They fail to realize they will not be handed that kind of money every single year, and spend beyond their means until it runs out.
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Old 03-19-2013, 10:33 AM   #9
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Default Re: Joey Porter faces foreclosure on Miami home

Porter could have blown everything or he could just be deciding to let the bank have the house. We don't know if he owes more than it's worth.

All generalizations are dangerous.
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Old 03-19-2013, 10:40 AM   #10
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Default Re: Joey Porter faces foreclosure on Miami home

Stupidity is rampant among high paid athletes. I could live very well off the interest of just one of their million dollars they have squandered. He could have bought the house outright but why the heck do they feel they have to live in a mansion with three or four $100K+ cars? You can live in a very nice home for much much less than that. Whatever. This will never change because these people don't have the brains to deal with it.

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