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Old 12-20-2012, 12:29 AM   #26
PLO Degen
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

This is what happens when you win large amounts of cash in tournaments and give it away to charities
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Old 12-20-2012, 12:38 AM   #27
Phatsac
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Quote:
Originally Posted by PLO Degen View Post
This is what happens when you win large amounts of cash in tournaments and give it away to charities
Followed by not cashing in tournaments for a long time.
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Old 12-20-2012, 12:57 AM   #28
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Maybe the house had a ghost and Barry didn't want a house with a ghost.
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Old 12-20-2012, 01:05 AM   #29
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

OP, the respect you show for your favorite poker player is almost fascinating.
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Old 12-20-2012, 01:22 AM   #30
SNGplayer24
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

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Originally Posted by OJsBludyNife View Post
Maybe the house had a ghost and Barry didn't want a house with a ghost.
this is the most likely reason for what has happened - very common occurrence these days. carry on.
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Old 12-20-2012, 01:58 AM   #31
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

This is only speculation and really not even referring to Barry, it is just the way things are.

Google Las Vegas real estate and look at the history of the values of homes. Everything is down 40% or more. High end homes drop faster in value.

If you owe a lot more on the home than what it is worth there are certain math calculations you need to make for your net worth and what the consequences are if you walk. It is a black and white decision. I am sure Barry knows math.

If I owned a home that was crashing in value and couldn't see the sense in holding on to it I would definitely let it go, especially when the bankers caused the crash in the first place. Why pay for thier screw up. And to add to it, the government takes away the online income.

Take some time to hide some cash and let the home slide. It is a business decision. Nothing to do with being broke.

People like Barry are fighting back. If this is his case I say, Good Job!!!
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Old 12-20-2012, 02:15 AM   #32
styleXX
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

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Originally Posted by MicroRoller View Post
He bought the house for $2.55mil only $200k was owed on it. I understand there are reasons to do this but it seems odd.
its most likely a second or 3rd mortgage that is foreclosing on him.
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Old 12-20-2012, 02:40 AM   #33
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

I think barry has plenty of poker and gambling money. he just doesn't have bill money ,
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Old 12-20-2012, 02:54 AM   #34
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

oh barry i love you
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Old 12-20-2012, 03:09 AM   #35
NapoleonDolemite
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

These decisions come down to ev. I'm sure Barry made a smart move. Maybe op works for the lender. Anyway the first mortgage lender gets the house, so hey it's not like they come up empty handed.
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Old 12-20-2012, 03:12 AM   #36
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

I guess Barry's website is down. I wanted to see that great page where he rates all the other top players and talks about how they are weak in all these areas. I think he gave Phil Hellmuth a low rating. He gave a lot of guys low ratings who still have their houses, I think.
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Old 12-20-2012, 03:18 AM   #37
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

i always thought barry had dumb money outside of poker didn't he always donate all his winnings to charity? I'm guessing he could use that monies now
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Old 12-20-2012, 03:23 AM   #38
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Y PHIL IVEY NO GIVE A FRIEND MONEY TO SAVE HIM?
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Old 12-20-2012, 03:28 AM   #39
McCutter
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Phil was being "friendly" until Barry was out of money. Then, it was "Next!"
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Old 12-20-2012, 03:44 AM   #40
Mookie88
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

in before Barry; all the best robin hood!
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Old 12-20-2012, 04:02 AM   #41
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

I like the guy... Hope he finds a shelter or something for the Christmas holidays. Winter is a biatch!
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Old 12-20-2012, 04:19 AM   #42
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Quote:
Originally Posted by McCutter View Post
I guess Barry's website is down. I wanted to see that great page where he rates all the other top players and talks about how they are weak in all these areas. I think he gave Phil Hellmuth a low rating. He gave a lot of guys low ratings who still have their houses, I think.
He wasn't rating them on their thievery skills.
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Old 12-20-2012, 04:21 AM   #43
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Vegas real estate took a huge hit during the crash, Barry is most likely underwater on his mortgage and it's simply better financial decision to not pay it.

Or maybe he's broke.
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Old 12-20-2012, 04:41 AM   #44
In4apenny
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

How disappointing, I suppose even the most likeable and alleged successful poker pro"s really struggle in life - I assume this disregard for money which enables them to get to the top of our game eventually catches up with them.

Next we'll be hearing that Todd and Doyle are living on a trailer park....
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Old 12-20-2012, 04:47 AM   #45
JimAfternoon
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Is the house in Vegas?

I thought he lived in California.

Either way, good luck barryg1.
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Old 12-20-2012, 04:50 AM   #46
moki
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

At least from the interviews I've heard, it sounds like Barry has a number of properties. Likely, as speculated by some in this thread, this one happened to be so horribly upside-down that he cut his losses.
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Old 12-20-2012, 04:54 AM   #47
Chrizza
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

As long as they don't come after his underground Asian brothels he'll be fine.
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Old 12-20-2012, 04:55 AM   #48
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Theres no way he can be broke, he bought in for 200k on HSP
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Old 12-20-2012, 04:58 AM   #49
UncleKraut
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Quote:
Originally Posted by JackStrate View Post
This is only speculation and really not even referring to Barry, it is just the way things are.

Google Las Vegas real estate and look at the history of the values of homes. Everything is down 40% or more. High end homes drop faster in value.

If you owe a lot more on the home than what it is worth there are certain math calculations you need to make for your net worth and what the consequences are if you walk. It is a black and white decision. I am sure Barry knows math.

If I owned a home that was crashing in value and couldn't see the sense in holding on to it I would definitely let it go, especially when the bankers caused the crash in the first place. Why pay for thier screw up. And to add to it, the government takes away the online income.

Take some time to hide some cash and let the home slide. It is a business decision. Nothing to do with being broke.

People like Barry are fighting back. If this is his case I say, Good Job!!!
Quote:
Originally Posted by sunders View Post
Vegas real estate took a huge hit during the crash, Barry is most likely underwater on his mortgage and it's simply better financial decision to not pay it.

Or maybe he's broke.
Tards. The house isn't in Vegas. It's in Palos Verdes, California.
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Old 12-20-2012, 05:35 AM   #50
Scott Tom
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Re: Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

Quote:
Originally Posted by ZBTHorton View Post
I anxiously await a small army of posters declaring there's no way Barry can be broke despite knowing absolutely nothing about his actual financial status, using things like the amount he bought in for on HSP as proof, along with another army of posters declaring he's totally busto without any real idea of his financial status either.

Carry on.
His financial troubles have been well known in the HS community. No charity for him it seems when times are tough. Some friends have helped him out, but he's not running good in life.
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