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$1.6 million lottery payout means 'mortgage-burning party' for N.C. man

Topic closed. 30 replies. Last post 7 months ago by Murgatroyd.

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United States
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March 25, 2011
505 Posts
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Posted: April 27, 2016, 10:20 am - IP Logged

Paying off a mortgage may feel good, however it may not be the best financial decision.

Lottery winnings should get independent, professional financial advice, before any decisions are made.

This is why I believe there should be a cooling off period before winners receive their prize money.

he only won 1.6 million. an amount no one on here would even consider spending 2.00 on to try to win that if it had been other than a scratch off card. he doesn't need professional financial advice which he would have to pay for and get talked into investing with these sharks who would do nothing more than try to position his money so he couldn't spend it but they could. i'm sure his mortgage isn't that much of a percentage of this so pay the thing off and hope a hurricane, fire, or flood doesn't come back to haunt him. a cooling off period would really go over big with lottery players i'm sure. you buck the odds and win and you have to wait because other people are afraid you will squander it. i don't think so.

    golfer1960's avatar - Lottery-003.jpg
    Eatontown, NJ
    United States
    Member #119670
    November 29, 2011
    740 Posts
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    Posted: April 27, 2016, 10:24 am - IP Logged

    mortgage burning

    PARTY ON MR. ZIMMERMAN. CONGRATULATIONS!

      golfer1960's avatar - Lottery-003.jpg
      Eatontown, NJ
      United States
      Member #119670
      November 29, 2011
      740 Posts
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      Posted: April 27, 2016, 10:27 am - IP Logged

      JASON ALDEAN BURNIN IT DOWN

        golfer1960's avatar - Lottery-003.jpg
        Eatontown, NJ
        United States
        Member #119670
        November 29, 2011
        740 Posts
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        Posted: April 27, 2016, 10:35 am - IP Logged

        FIREPLACE

        PLACE THE MORTGAGE IN THE FIREPLACE, BURN IT DOWN, SIPPIN ON SOME COOL JACK DANIELS AND JAMMIN TO SOME OLD ALABAMA.

          rcbbuckeye's avatar - Lottery-043.jpg
          Texas
          United States
          Member #55889
          October 23, 2007
          5600 Posts
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          Posted: April 27, 2016, 10:48 am - IP Logged

          Paying off a mortgage may feel good, however it may not be the best financial decision.

          Lottery winnings should get independent, professional financial advice, before any decisions are made.

          This is why I believe there should be a cooling off period before winners receive their prize money.

          Well, with the financial situation around the world, if someone is able to relieve themselves of debt, it's the smartest thing they can do.

          I've got about 4 years to retirement, and the best way to retire is with no debt. Easier to live cheap with no obligations.

          CAN'T WIN IF YOU'RE NOT IN

          A DOLLAR AND A DREAM (OR $2)

            rcbbuckeye's avatar - Lottery-043.jpg
            Texas
            United States
            Member #55889
            October 23, 2007
            5600 Posts
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            Posted: April 27, 2016, 10:50 am - IP Logged

            FIREPLACE

            PLACE THE MORTGAGE IN THE FIREPLACE, BURN IT DOWN, SIPPIN ON SOME COOL JACK DANIELS AND JAMMIN TO SOME OLD ALABAMA.

            My wife and I loved Alabama. Saw several concerts. They really put on a show.

            CAN'T WIN IF YOU'RE NOT IN

            A DOLLAR AND A DREAM (OR $2)

              golfer1960's avatar - Lottery-003.jpg
              Eatontown, NJ
              United States
              Member #119670
              November 29, 2011
              740 Posts
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              Posted: April 27, 2016, 11:19 am - IP Logged

              My wife and I loved Alabama. Saw several concerts. They really put on a show.

              ALABAMA!! ROLL TIDE, ROLL!!

              ALABAMA

                sully16's avatar - sharan
                Ringleader
                Michigan
                United States
                Member #81740
                October 28, 2009
                40477 Posts
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                Posted: April 27, 2016, 11:37 am - IP Logged

                Congrats to the lucky guy, enjoy that Mortgage Burning party.

                Did you exchange a walk on part in the war ?

                For a lead role in a cage?

                 

                                                            From Pink Floyd's " Wish you were here"

                  haymaker's avatar - Lottery-012.jpg
                  Egg Harbor twp.south Jersey shore
                  United States
                  Member #112968
                  June 29, 2011
                  3856 Posts
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                  Posted: April 27, 2016, 11:57 am - IP Logged

                  Paying off a mortgage may feel good, however it may not be the best financial decision.

                  Lottery winnings should get independent, professional financial advice, before any decisions are made.

                  This is why I believe there should be a cooling off period before winners receive their prize money.

                  There's already a cooling off period...the time between the win and the collect.

                  when I hit 4/5 on the JC5 game it took over 4 weeks to get paid,

                  if that's not enough I been in cooling ever since I bought my first tix.

                  Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

                    HaveABall's avatar - rocket

                    United States
                    Member #72448
                    March 18, 2009
                    1228 Posts
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                    Posted: April 28, 2016, 9:26 pm - IP Logged

                    FIREPLACE

                    PLACE THE MORTGAGE IN THE FIREPLACE, BURN IT DOWN, SIPPIN ON SOME COOL JACK DANIELS AND JAMMIN TO SOME OLD ALABAMA.

                    Ah, golfer1960, lovely notion! Star

                    Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                    Disney

                      HaveABall's avatar - rocket

                      United States
                      Member #72448
                      March 18, 2009
                      1228 Posts
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                      Posted: April 28, 2016, 9:28 pm - IP Logged

                      There's already a cooling off period...the time between the win and the collect.

                      when I hit 4/5 on the JC5 game it took over 4 weeks to get paid,

                      if that's not enough I been in cooling ever since I bought my first tix.

                      heymaker, congratulations on your tidy win! Disney

                      Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                      Disney

                        haymaker's avatar - Lottery-012.jpg
                        Egg Harbor twp.south Jersey shore
                        United States
                        Member #112968
                        June 29, 2011
                        3856 Posts
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                        Posted: May 1, 2016, 11:31 am - IP Logged

                        heymaker, congratulations on your tidy win! Disney

                        Thanks,

                        but it's been a while, over 2 years.

                        Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

                          Avatar

                          United States
                          Member #149820
                          December 9, 2013
                          644 Posts
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                          Posted: May 1, 2016, 12:10 pm - IP Logged

                          Paying off a mortgage may feel good, however it may not be the best financial decision.

                          Lottery winnings should get independent, professional financial advice, before any decisions are made.

                          This is why I believe there should be a cooling off period before winners receive their prize money.

                          Lol we don't need a cooling off period. I think you should be able to get the money the same day. Like JG Wentworth says..."It's your money get it when you want it " 

                            dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                            Oklahoma
                            United States
                            Member #82391
                            November 12, 2009
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                            Posted: May 2, 2016, 11:01 am - IP Logged

                            Congratulations Mr. Zimmerman....

                            I Love Pink & Green 1908

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                              rex ga
                              United States
                              Member #160376
                              October 26, 2014
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                              Posted: May 5, 2016, 8:31 pm - IP Logged

                              so he's the assistant manager at the grocery store where he bought the winning ticket on his day off and 'something told him to buy one more'......

                               

                              yep, nothing fishy going on here folks......

                               

                              Roll Eyes

                              No NodNo NoYep.....all too often do you see the owner, manager or employee of the store where the ticket is purchased as the "winner".  In my hometown the owner's son "purchased" as scratch off and won 5 million...hmmm