Cam Newton got a place in Atlanta

[CarolinaNut]

Here...

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[thecarolinaswagger]

It shows me that Newton is not good with money.. that's about all really. Because, he doesn't get paid until a new CBA is reached.. who knows how long that could be. Spending money that he doesn't have.

cam got a fat contract from under-armour in February, so he already got money, plenty of money to put a huge down payment on a house

[Mr. Scot]

greatest moment in NFL history.

Definitely one of the funniest :lol:

[TheRealDeal]

I heard he bought the house so he could continue his life with Ovie

[Lout]

In fairness, I don't think his family is exactly poor. Hid dad did play in the NFL (albeit briefly).

Back then, even the best players in the NFL didn't get paid nearly as well as they do now. His father more than likely doesn't have a dime from his playing days. I can buy in if his agent is simply giving him an advance, but I can't see his parents buying him a house.

[Mr. Scot]

Back then, even the best players in the NFL didn't get paid nearly as well as they do now. His father more than likely doesn't have a dime from his playing days. I can buy in if his agent is simply giving him an advance, but I can't see his parents buying him a house.

Maybe, but from what I saw of their place on TV, I don't think they're exactly hurting. And someone else pointed out the endorsement contract.

I understand the point you're making, but I think they can afford it.

[Cavscout]

Back then, even the best players in the NFL didn't get paid nearly as well as they do now. His father more than likely doesn't have a dime from his playing days. I can buy in if his agent is simply giving him an advance, but I can't see his parents buying him a house.

Auburn paid for it when they won the cameron bidding war.

[teeray]

Back then, even the best players in the NFL didn't get paid nearly as well as they do now. His father more than likely doesn't have a dime from his playing days. I can buy in if his agent is simply giving him an advance, but I can't see his parents buying him a house.

Why is it not possible for him to finance the house? I just refinanced my house and got a loan at 95% LTV. With his impending financials he wold have no problem getting any type of loan he wants.

You guys are weird :lol:

[Lout]

this has hate written all over it. is he not allowed to do anything with out it being looked at and as a negative? whats wrong with buying a house in his hometown? no one said he was going to forget about where he came from to join the panthers. Most athletes have homes in there hometown, as for the money aspect no one said he bought a mansion.

Nothing is wrong with buying a home in your hometown, that's to be expected. Spending that kind of money before you have earned a dime.. and not knowing when you are going to get paid is not the smartest things to do financially. You cam huggers get so butt hurt, it's laughable. I'd say the same thing about Gabbert or any other prospect if they did the same.

[Sword]

hello people, he got a mutli-million dollar endorsement deal from under armor and he could have other deals in place..he can afford to buy things right now.

[Lout]

Maybe, but from what I saw of their place on TV, I don't think they're exactly hurting. And someone else pointed out the endorsement contract.

I understand the point you're making, but I think they can afford it.

Endorsement contract makes a lot of sense.

[TheRealDeal]

Why is it not possible for him to finance the house? I just refinanced my house and got a loan at 95% LTV. With his impending financials he wold have no problem getting any type of loan he wants.

You guys are weird :lol:

This is actually incorrect.

Many players have never had jobs so they do not have much credit nor much work history. NFL contracts are not guaranteed.

It would be more difficult for him to get a house unless he put a very large sum of money down, no matter how much he has in his bank account.

I remember a story about someone on the Panthers trying to buy a house but the bank wouldn't finance him even though the knew he was on the team, the player showed he had enough money in his Bank of America account to purchase 4 houses of the same value in cash, got Jerry Richardson to write a letter for the player, and Bank of America still would not give the player a loan due to their lack of credit and job history.

Pretty crazy right?

[teeray]

This is actually incorrect.

Many players have never had jobs so they do not have much credit nor much work history. NFL contracts are not guaranteed.

It would be more difficult for him to get a house unless he put a very large sum of money down, no matter how much he has in his bank account.

I remember a story about someone on the Panthers trying to buy a house but the bank wouldn't finance him even though the knew he was on the team, the player showed he had enough money in his Bank of America account to purchase 4 houses of the same value in cash, got Jerry Richardson to write a letter for the player, and Bank of America still would not give the player a loan due to their lack of credit and job history.

Pretty crazy right?

That is why you go to a mortgage broker who would go through several different banks and not just walk up to BOA for a loan. Any real estate broker worth his salt would get this guy in a house even if it meant going through their in house financing.

A future millionaire will get his loan for a single family home.

I'm licensed in NC (although not practicing) so tell him if he wants a house in Charlotte I can hook him up.

[teeray]

Hell, if I know I am going to have a whale for a client I will make the down payment for him!!!

* note to the NC Real Estate Commission. I realize this constitutes loan fraud and is now punishable with up to 30 years in prison and a $1,000,000 fine. I was just joking.... but seriously call me Cam I can use the commission. :lol: