Foreclosure can happen to anyone. It doesn’t matter whether you’re a family struggling to make ends meet after a lost job or you’re a former Pro Bowl wide receiver who made tens of millions of dollars in the NFL.
Terrell Owens’ condo at the Azure luxury highrise in Dallas was sold at foreclosure on Tuesday. A spokesman for T.O. said that a short sale were being pursued “due to a drop in market value.” I’m not sure I buy that explanation.
I don’t feel particularly sorry for T.O., and most people shouldn’t. However, homeowners across this country should take note of the T.O. foreclosure for the reason that a foreclosure truly can happen to anyone. I’m sure when he was making millions of dollars in the NFL, T.O. never would have dreamed his luxury condo would be foreclosed upon. But then his health faded, he got older, and suddenly, he didn’t have the same job making the same money he used to make.
Take a few zeros off the paycheck and the story of Terrell Owens is the story of millions of Americans over the last 4 years. And you can rest assured that if the bank–in this case, JP Morgan Chase–had no problem foreclosing on a Pro Bowl wide receiver, they’ll have no problem foreclosing on you too: unless you take action to stop them.