NFL Player Terrell Owens In Foreclosure

: Chris Lee Law Firm

  Filed under: Financial News

Terrell OwensOnce playing for one of the most notable teams in the league, Dallas Cowboys, Owens has found himself without the luxuries the NFL has to offer. Having once earned $80 million in his football career, the former star is playing for a minor league team and fighting to keep two of his Dallas properties out of foreclosure.

Money Problems

Owens has two Dallas condominiums that are facing foreclosure if Terrell can’t come up with the money to resolve his mortgage debts. He owes over $600,000 between the two properties, both of which are fully stocked with luxury items that could be liquidated in order to satisfy debts. Items such as a photo of his toilet and an artistic rendition of a dandelion are both up for sale for the price of around $230,000.

Having fallen victim to typical mismanagement of funds and failure to save money during the highlight of his career, Owens is following the same pattern of nearly three-fourths of all retired players. Now earning less than $250,000 a year playing for a minor league team, Owens does not have the money to pay for his two luxury condos in the hip neighborhood of Dallas. Both of his condos are schedule to be up for sale at a real estate auction March 6, 2012.




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