Eagles fans mortgage homes for money to follow team (seems crazy to me!)

[HuckleB]

Maybe I'm just overly judgmental...

Some fans of Eagles put homes on line for money to follow team

http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/1107522171244970.xml

"Kevin P. O'Donoghue planned to attend today's Super Bowl. When he gets back, he figured, he'll worry about the house he mortgaged to watch his beloved Eagles.

He's not alone. Some championship-deprived Philadelphians are so desperate to get down to Jacksonville, Fla., for the big game that they're borrowing against their homes to pay for the tickets.

O'Donoghue, who was 11 the last time his team made it to the Super Bowl, promised himself he'd be there if they ever made it again -- no matter what it took.

After the Eagles advanced to their first Super Bowl in 24 years, O'Donoghue told his wife: "I don't care if we have to mortgage our house, I'm going."

She replied, "Wait a minute, maybe that's a good idea."

..."


----------

Philly Fans' Financial Fumble

http://www.fool.com/News/mft/2005/mft05020427.htm

"Forgive me; my head is racing. It's not often I hear about a financial move so monumentally stupid that I'm blitzed by potential story titles. But when the Associated Press reported that desperate Philadelphia Eagles fans were borrowing against their homes for game tickets, I struck headline gold:

Philly's Financial Idiocy
Egad, Eagles Fans!
Winning the Super Bowl of Stupidity
Diehard Fans; Dunderheaded Finances
Robbing Peter to Play Ball

As one financially challenged follower told the Associated Press: "Sometimes the cards are maxed out, and you gotta do what you gotta do." What he had to do was apply for a $4,000 home equity line of credit to pay for a Super Bowl package.

How about this option: If you can't afford it, you don't gotta do it.

..."

[apple_ridge]

1. At least they'll be there to witness the Patriots getting

their 3rd Super Bowl trophy. :smoke:

[0007]

2. We're all judgmental to some degree!

If the Eagles lose, Can ya' say, 'double whammy'

[HuckleB]

3. Yeah, talk about a tight stomach, weak legs, and a dizzy head.

For weeks on end, probably.

It's sort of like a junky going after the one almighty fix -- and it often leads to an OD.

[gmaki]

4. Pure spin

He needed $4,000 to go to the superbowl. He used his home equity rather than credit cards to get the lowest interest rate. end of story.

Stupid? borrowing $4,000 to go to the Superbowl is stupid in my opinion, but a $4,000 loan against a house that is likely worth over $200,000 isn't the end of the world.

[HuckleB]

5. Yeah, the article makes that clear.

It's probably smarter than using a CC. But the guy also comments that his credit cards are maxed out!

And, the main point, as you noted, is borrowing that kind of money to go to a game that usually sucks.

[DefenseLawyer]

6. I guess those who aren't sports fans "don't get it"

but this is not the first person to use home equity to pay for a vacation. One could question the financial wisdom of borrowing money for something that is not a necessity, but I don't see the difference between borrowing money to go to the Superbowl and borrowing money for a second honeymoon to Europe or a bass boat or a baby grand piano.

[HuckleB]

7. I'm a sports fan, and I don't get it.

Sorry, but we're talking about a 3 to 4 hour game that's probably more entertaining on TV.

There's a big difference between that and the items you compared it to, though one can question borrowing against one's home for those items as well. Especially when one looks at the economic outlook of this nation.

[ooglymoogly]

8. well what the hey

with the rapture coming and all...who needs a roof for the wife and kids....might as well see a good ball game

[DefenseLawyer]

9. What is the big difference between a trip to Europe

and a trip to the Superbowl? Many people would disagree with you that watching a game on tv is better than seeing it live. It's subjective; which is my point, all those things may seem logical or crazy to borrow for depending on our own priorities or tastes. It's your opinion that the game is more entertaining on tv, but to a die hard Eagles fan that has waited his whole life to see his team in the big game, it is worth it to him to be there.

[HuckleB]

12. Whatever you say.

I say its entertainment, and entertainment that's been marketed quite well. Of course there's no logic to it. That's the point. Putting one's financial well-being, one's home on the line isn't logical at all. And while I understand that life can't be lived by logic alone, there are some things are just plain foolish. We fall for them every day. Sure, it's just my opinion.

Heck, the reality of the NFL is TV. The NFL is a non-entity without TV. And going to a corporate Spring Break set up to watch an all-too-slick for Philadelphia "game" doesn't sound like something most Eagles fans without money would enjoy. Now I know that one can sell oneself on just about everything, but it seems like maybe this is more romantic, about being able to say one was there.

"Sure, I lost the house six months later when the company moved overseas, but I was at the game!"

What a world!

[DefenseLawyer]

13. Don't get me wrong

I think it is a bonehead move, I just don't think it is any more bonehead than borrowing for a trip to Europe or a sports car.

[Patiod]

10. It's not the game, it's the whole experience around it

Back in the 80's when the Nittanyt Lions didn't suck, a lot of my friends made the pilgimage to the Orange Bowl or wherever they were playing, whether the trip was affordable or not. The game was only a part of it - it was the Penn State-themed carnival atmosphere. A lot of college football fans spend $125K+ for mobile homes that they use just for games ("Rammer Jamme Yellow Hammer" focuses on these folks).

It's something that takes folks out of their day-to-day lives, and folks living in bluecollar places like my Philadelphia, or Boston or Chicago really need that.

[HuckleB]

11. Lots of things do that for a lot less money.

In other words, people could get out of your day-to-day lives a lot more often for the money. They've just been sold a bill of goods by marketers, that's all.