Paying off a new home? No problem
By Kate Northrop
MEBANE, N.C. — A North Carolina man who bought a new home can use his $439,527 Cash 5 lottery jackpot, which he won the day after the purchase, to pay it off.
Benny Murphy of Mebane hit a $439,527 Cash 5 jackpot the day after buying a new house.
"I closed on a house on Wednesday," Murphy told the North Carolina Lottery. "They made a joke about lower payments if I won the lottery."
The North Carolina resident stopped at the Quickmart on U.S. 70 West in Mebane to buy a $1 Cash 5 ticket, perhaps to see if he could turn the joke into reality.
That prospect became very real when his ticket matched all five numbers in the Thursday, Aug. 15 drawing, which were 18, 19, 29, 34, and 39.
He visited Lottery headquarters in Raleigh on Monday to claim his prize, receiving a total of $314,262 after taxes.
With the winnings, he'll pay off his new house, go on a fishing trip, and save the rest.
Cash 5 drawings take place every day at 11:22 pm Eastern Time. All winning numbers, prizes and odds can be found on Lottery Post's North Carolina Lottery Results page right after each drawing.
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Well that's a fun week 😁🔑💸
Anyone who has purchased a house knows how time consuming it is to arrange financing and proving their worth to be able to buy a house. This guy has to be somewhat miffed that he could have just written a check for the house, if he had won that lottery one week before!
Congrats!
I cannot understand why he or anyone would be angry. He can use the winnings to possibly pay down or pay off his mortgage and/or invest the winnings. Mortgage interest is deductible. When I bought my first home, the mortgage process was pretty simple. Verify your job income, bank info, and credit history.
Going through the mortgage process is an adult right of passage.
now he can buy the next door neighbor's house.
I've done the mortgage thing a couple of times. The first time wasn't easy because I had a hard time finding financing not because of my credit, but because I was buying a condo. Luckily, I was able to find a lender who would give me a shot.
The second time was a house so it wasn't that hard finding a lender. I also had to get an appraisal so I guess it can be a bunch of paperwork. I also refinanced my house along the way, so I know the process.
After doing all that, he might be able to pay it off, which would be cool.
Really??? My first purchase was a condo. No lender issues. But it was more of a townhouse style condo and not in a high rise building. Maybe that is the difference?
Twas Just The Luck O' The Irish
Congrats Benny
Congratulations good luck great right after he purchased the house 🍾🥂💰💰💰💰
This was in the early 90s so maybe things have changed. It was a condo in a 5 unit building just 3 stories.
I'd like to pay off my mortgage and if I keep buying tickets I just might.
Yea, there were alot of area's that had issues with condos in the 90's. Not in large cities, they knew how to do it. Everyone was trying to figure out how to lend on them. Often the main issue was other condos similar to the one you were buying. What I mean by that is, the appraiser would need to find similar 5 unit building. After a few years of that really not working they dropped that requirement and just allowed another similar condo in any type building.