Mr. Fedorov needs your support

[NeverForgetMac25 483]

I updated my post after you replied... to say, I am sure he had his reasons... don't we all have our reasons... whether it be foreclosing on your house or credit card debt... there is always a reason behind it.

All those reasons are self-inflicted.

[sibiriak 84]

I can not believe that this idiocy lasted for 2 pages already.

We know virtually nothing about this. All we know is that a bank claims that a loan was taken out in the name of SergeI Fedorov and that payments on this loan were stopped.

We don't know anything else. And in this thread, folks who don't like Fedorov took an opportunity to bash him once more, and the folks who like him wanted to defend him.

One can constract an equally plausible case for or against Sergei. Either will fit the few facts that we do know.

For example, do we know who lives/lived in the Florida house? How much was the price of it and is 2 mil. the initial loan or a residual? When did the payments stop? Why? What is the market value of the property vs. the outstanding loan amount? Are/were there any other parties to the deal?

If I wanted to bash Sergei, I'd conclude that maybe the value of the property fell a lot and it is now worth much less than he owes on it. So it is cheaper to walk away. Maybe the collateral horse went lame?

Alternatively, if i wanted to defend him, I'd think that maybe this is he Miami mansion of the certain Anna K. which she got in the divorce, when Feds got the mortgage.

See, we simply don't know enough to make any kind of judgement based on more than whether we like or dislike him. Not to mention that this is really a personal matter and the media had no business sticking their noses in it.

It's not like Sergei is running for office and the public needed to know.

Edited July 16, 2008 by sibiriak

[NeverForgetMac25 483]

I can not believe that this idiocy lasted for 2 pages alpeady.

We know virtually nothing about this. All we know is that a bank claims that a loan was taken out in the name of SergeI Fedorov and that payments on this loan were stopped.

We don't know anything else. And in this thread folks who don't like Fedorov took an opportunity to bash him once more, and the folks who like him wanted to defend him.

One can constract an equally plausible case for or against Sergei. Either will fit the few facts that we know.

For example, do we know who lives/lived in the Florida house? How much was the price of it and is 2 mil. the initial loan or a residual? When did the payments stopped? Why? What is the market value of the property vs. the outstanding loan amount? Are/were there any other parties to the deal?

If I wanted to bash Sergei, I'd conclude that maybe the value of the property fell a lot and it is now much less than he owes on it. So it is cheaper to walk away. Maybe the horse has died?

Alternatively, if i wanted to defend him, I'd think that maybe this is he Miami mansion of the certain Anna K. which she got in the divorce, when Feds got the mortgage.

See, we simply don't know enough to make any kind of judgement based on more than whether we like or dislike him. Not to mention that this is really a personal matter and the media had no business sticking their noses in it.

It's not like Sergei is running for office and the public needed to know.

My argument has nothing to do with liking or disliking him. I'm actually indifferent in regards to the way he left and wouldn't boo him if he were playing for the opposition of a Wings game I attended.

As I stated in my initial post, *based on the information we know*, Sergei needs to pay his bills. This has nothing to do with liking him or not. Atleast for me it doesn't.

[DatsMyWings13 4]

I can not believe that this idiocy lasted for 2 pages already.

We know virtually nothing about this. All we know is that a bank claims that a loan was taken out in the name of SergeI Fedorov and that payments on this loan were stopped.

We don't know anything else. And in this thread, folks who don't like Fedorov took an opportunity to bash him once more, and the folks who like him wanted to defend him.

One can constract an equally plausible case for or against Sergei. Either will fit the few facts that we do know.

For example, do we know who lives/lived in the Florida house? How much was the price of it and is 2 mil. the initial loan or a residual? When did the payments stop? Why? What is the market value of the property vs. the outstanding loan amount? Are/were there any other parties to the deal?

If I wanted to bash Sergei, I'd conclude that maybe the value of the property fell a lot and it is now worth much less than he owes on it. So it is cheaper to walk away. Maybe the collateral horse went lame?

Alternatively, if i wanted to defend him, I'd think that maybe this is he Miami mansion of the certain Anna K. which she got in the divorce, when Feds got the mortgage.

See, we simply don't know enough to make any kind of judgement based on more than whether we like or dislike him. Not to mention that this is really a personal matter and the media had no business sticking their noses in it.

It's not like Sergei is running for office and the public needed to know.

All apart of being a celebrity. If you can't take the publicity then you shouldn't take the money.

[sibiriak 84]

All apart of being a celebrity. If you can't take the publicity then you shouldn't take the money.

Since when are the hockey players, especially foreign born, are celebrities in the US?

[sibiriak 84]

My argument has nothing to do with liking or disliking him. I'm actually indifferent in regards to the way he left and wouldn't boo him if he were playing for the opposition of a Wings game I attended.

As I stated in my initial post, *based on the information we know*, Sergei needs to pay his bills. This has nothing to do with liking him or not. Atleast for me it doesn't.

And my point was that we don't know much at all.

Ity could be fraud, it could be failure to pay on his debts, it could be an honest business dispute, it could be that someone else used him as a loan guarantor, it could be a straight business decision based on what the market value of the collateral is vs the outstanding loan, it could be a million of other things. It could be a newspaper fubrication. We don't know. And yet you jumped to an unflattering conclusion , when you could have gone either way.

This is really almost a pure test of one's subjective attitude toward Fedorov.

Give one a barest minimum data, that in itself is neutral, and see which way their judgement goes.

[NeverForgetMac25 483]

And my point was that we don't know much at all.

Ity could be fraud, it could be failure to pay on his debts, it could be an honest business dispute, it could be that someone else used him as a loan guarantor, it could be a straight business decision based on what the market value of the collateral is vs the outstanding loan, it could be a million of other things. It could be a newspaper fubrication. We don't know. And yet you jumped to an unflattering conclusion , when you could have gone either way.

This is really almost a pure test of one's subjective attitude toward Fedorov.

Give one a barest minimum data, that in itself is neutral, and see which way their judgement goes.

Actually, when it comes to this situation it had to do with the type of person *I* am rather than Fedorov. I pay all my bills on time and have savings in case the unforseeable takes place. I understand things happen, but thats why you prepare for them.

In regards to it being a business decision or market value of the collateral vs the outstanding loan.....it's called being responsible. If that is the avenue Feds decided to take, than he's just another reason our economy is in the s***ter.

Surely sibiriak, you realize how many things are debated on an internet forum without *all the facts*.

[DatsMyWings13 4]

Since when are the hockey players, especially foreign born, are celebrities in the US?

Since they took millions of dollars to play a sport. There are people that spend their days trying to dig up dirt on any celebrity/athlete. I see this stuff all day long on espn and other sites. Just part of the job.

[OsGOD 3]

Don't you mean excuses? If you can't pay for something then don't buy it.

Well for sure excuses when you aren't personally involved and reason when you are... Glass half empty or glass half full.

Ah well to each their own... My friends are getting their house foreclosed on.. MOTHER f***ERS i hate them both... effing losers...such a lack of character they have! <-- see its easy to say that when its not YOU being the one in the situation.

[Opie 308]

Well for sure excuses when you aren't personally involved and reason when you are... Glass half empty or glass half full.

Ah well to each their own... My friends are getting their house foreclosed on.. MOTHER f***ERS i hate them both... effing losers...such a lack of character they have! <-- see its easy to say that when its not YOU being the one in the situation.

And your friends, are their salaries in the range of 4-10 million, did they get signing bonus that were worth more than you or I combined will ever make in our life times.

The reason why people get upset, bothered, or even just snippy when it comes to these things is that most of these people who, like Feds, put themselves in these spots have more money than you or I could ever fathom and people like Feds, MC Hammer, Charles Barkley, whomever else you want spend money like it will never stop coming in. And then they ask for more money when the next opportunity arises, and then I have to foot the bill if I want to see them play.

This money is easily made in a year for him, for you or I to have a home foreclosed on is a life changing event, for most superstars it is the loss of one home and a couple of Mil.

You cannot compare what Feds and others have done to the average working joe who punches a clock for 40 + hours a week and barely can pay for the gas in their Toyota Tercel let alone go out and by 3,4 maybe 5 cars paid for all in cash!

[OsGOD 3]

They make millions and have a million dollar homes and expensive cars...I make thousands and have a few thousand dollar home and a not so expensive cars... Sure he/they make a ton more than the regular joe/josephine shmos out there but it really is all realtive. No matter how much they make people all can have the same "issues" arrive that bury them.... some like in this case on a much bigger level. Its very easy to critize or judge someones with a lifestyle that you can only reach in your wildest dreams.... (you is general by the way...not at you really)

I am not saying that he wasn't irresponsible but i am also not saying that just because he is a "fallen" millionare doesn't mean he has a lack of character....

People assumed he bought his house(s) and cars with cash... obviously he got loans for something, perhaps maybe he didn't always pay cash for everything?

And yes for all those who say if you don't have cash you don't buy it... I am glad you are enjoying your Lease/Finance free care and your morgage free home... it must be nice... for the rest of us payig cash isn't always a fiesible option.

Edited July 16, 2008 by OsGOD

[Guest EZBAKETHAGANGSTA]

Please provide a PayPal account link. You're not helping us "support" him without giving us payment and support information.

[Opie 308]

Sorry Osgod as I looked back I realized you were defending people attacking his character which I am not, I was just saying he needed to own up and pay.

s*** if bad credit or late payments make you an asshat....

Well I already was before all of that but you git the point!

[Doc Holiday 0]

They make millions and have a million dollar homes and expensive cars...I make thousands and have a few thousand dollar home and a not so expensive cars... Sure he/they make a ton more than the regular joe/josephine shmos out there but it really is all realtive. No matter how much they make people all can have the same "issues" arrive that bury them.... some like in this case on a much bigger level. Its very easy to critize or judge someones with a lifestyle that you can only reach in your wildest dreams.... (you is general by the way...not at you really)

I am not saying that he wasn't irresponsible but i am also not saying that just because he is a "fallen" millionare doesn't mean he has a lack of character....

People assumed he bought his house(s) and cars with cash... obviously he got loans for something, perhaps maybe he didn't always pay cash for everything?

And yes for all those who say if you don't have cash you don't buy it... I am glad you are enjoying your Lease/Finance free care and your morgage free home... it must be nice... for the rest of us payig cash isn't always a fiesible option.

Does this even justify him taking loans that he can't pay back? No.

[NeverForgetMac25 483]

They make millions and have a million dollar homes and expensive cars...I make thousands and have a few thousand dollar home and a not so expensive cars... Sure he/they make a ton more than the regular joe/josephine shmos out there but it really is all realtive. No matter how much they make people all can have the same "issues" arrive that bury them.... some like in this case on a much bigger level. Its very easy to critize or judge someones with a lifestyle that you can only reach in your wildest dreams.... (you is general by the way...not at you really)

I am not saying that he wasn't irresponsible but i am also not saying that just because he is a "fallen" millionare doesn't mean he has a lack of character....

People assumed he bought his house(s) and cars with cash... obviously he got loans for something, perhaps maybe he didn't always pay cash for everything?

And yes for all those who say if you don't have cash you don't buy it... I am glad you are enjoying your Lease/Finance free care and your morgage free home... it must be nice... for the rest of us payig cash isn't always a fiesible option.

That has nothing to do with what I'm saying. I'm saying if you can't afford it (in terms of paying it back) you don't buy it. In the event that something unforseen comes up, then you have a backup plan. A guy that has made as much money as Sergei has should have no problem coming up with the cash to pay off those loans.

[Guest Crymson]

If Fedorov took out these loans to help him maintain an extravagant lifestyle, then I have no sympathy for him if he has spent so much money that he cannot pay them back.

However, I don't really care whatsoever about the personal lives of celebrities, and I think it's inappropriate for them to be pried into.

[DatsMyWings13 4]

Well for sure excuses when you aren't personally involved and reason when you are... Glass half empty or glass half full.

Ah well to each their own... My friends are getting their house foreclosed on.. MOTHER f***ERS i hate them both... effing losers...such a lack of character they have! <-- see its easy to say that when its not YOU being the one in the situation.

I never said I hate him and I never called him a Mother f***** either. So stop over reacting and stop making excuses. He had the financial means to never need the loans to begin with. Also people need to start taking responsibility for their own actions.

If someone is getting foreclosed on it might be that they bought a house they couldn't afford. That is there fault for biting off more than they could chew.

Or maybe they didn't educate themselves about the loan they funded the purchase of their house with and the interest rate jumped up 10% after two years and now they can't afford it. Once again that is their fault for not reading up on the loan.

If you can't pay your bills because you lost a job it's entirely possible you did something that caused you to loose your job.

All I'm saying is that people need to take responsibilities for their actions and stop blaming everything and everyone else for their problems.

[sibiriak 84]

Since they took millions of dollars to play a sport. There are people that spend their days trying to dig up dirt on any celebrity/athlete. I see this stuff all day long on espn and other sites. Just part of the job.

You must have missed the sarcasm emoticon

But seriously, I doubt that out of 1000 randomly selected Americans 50 would have ever heard of a Sergei Fedorov. So I don't think he ranks in celebrity anywhere near MC Hammer or Barlley, or any actress/entertainer/pro athlete (non-hockey), as someone compared him to above.

[sibiriak 84]

Actually, when it comes to this situation it had to do with the type of person *I* am rather than Fedorov. I pay all my bills on time and have savings in case the unforseeable takes place. I understand things happen, but thats why you prepare for them.

In regards to it being a business decision or market value of the collateral vs the outstanding loan.....it's called being responsible. If that is the avenue Feds decided to take, than he's just another reason our economy is in the s***ter.

Surely sibiriak, you realize how many things are debated on an internet forum without *all the facts*.

I see where you are coming from. It's just that this topic is being discussed on then basis of almost no facts at all. Even less then with most internet discussions.

But what the heck, here's my take, based on the almost nothing that we know:

This property is obviously a vacation/investment property. The real estate market in Florida tanked, especially in the higher price segment. That means that a home in South Florida now may be worth 70% of what it was worth 1 year ago. If it was bought in late 1990s, any equity that Fedorov up built in it is now gone. Any investment adviser would recommend cutting your losses and letting the bank take the property over, so you wouldn't have to pay mortgage, upkeep, taxes, etc. on a property that you have no equity in and can't sell for anything close to the amount you owe on it. A lot of real estate investors do this as a routine matter when the market tanks. Why shouldn't the real estate investor by the name S. Fedorov do the same?

[Guest LivingtheDream]

pathetic

Exactly. Who can possibly feel sorry for a millionaire who by simply acting a notch above the level of moron should be set for life. It's like some of you whiners who feel sorry for D-Mac. The term here for either is "loser" in the truest sense of the word. Plenty of hard working people to feel sorry for in this world of ours.

[RockyMountainWingGal 108]

Okay so talking about the late payment fees of outrageous amounts and then the relentless over limit fees (well not in the case of loans but with credit cards and they still deal with banks) and despite the joys of a low priced FIXED loan rate... that is not the case when you miss a payment... they can jack it up to loan sharking rates.... Fixed is nice when you are making payments on time... but because it says fixed doesn't mean it stays fixed

His or anyone elses personal financial s*** doesn't need to be aired in public... this is between him, the bank and now the judge and attorneys. case and point. Or better yet being discussed at length on a hockey board... regardless of it being off season or what.

Fedorov does not need anyones support he can get himself out of the hole he dug himself into just like many of the rest of us have (many who I bet have a similar income/debt ratio just not willing to make it public on a hockey forum). I am sure he has he reasons as to why he defaulted... don't we all at one time or another in todays day and age?

Great post! I can't believe how quick people are to jump on the guy's back because of alleged non-loan repayments. That's between him and the bank. It's not like the guy killed somebody.

People on here crack me up. If you haven't ever paid a bill late, bounced a check, ran low on money - than you are pretty much not human. It says nothing about a person that he missed a loan payment - other than exactly that! What if Z missed a loan payment? Everyone going to run him off the team?

Since this already turned into a bank thread - if you gave me a choice of whose side to pick - it would NOT be a bank. As several posters have mentioned - they are rude, opportunistic predators to many people (and actually I'm not one of them if you are wondering). Personally, I think each bank involved in the lending crisis should be liable for all their bad loans - they are responsible for dragging this nation into the housing crunch by purposely giving loans to people who did not qualify - purely for the fact they made money on it. Now the govt wants to bail them out. I say let them all crash and burn.

We all know people who are in foreclosure danger - I have a good friend also who is in danger - and she has a steady job and makes all her payments!

Sorry to rant - but until Sergei starts an S&L crisis, it's not really our business.