NCAA punishes USC - Reggie Bush, OJ Mayo, Dwayne Jarrett, Joe McKnight investigation

[Steve19]

I have a quick question. If I do my math correctly, then the information about $2000 a month rent sounds possible. $757000 at 6.5% for 30 years flat should be a payment of about $2200. If that is so, is it not possible that if both parents were working, then they could have been paying that rent? I know it looks different, but is it perhaps possible that they could have been paying this?

Oh, and another question. From what I see, the average house price in San Diego is about $500,000. Is that accurate? The pictures I see don't make this house look like a palace to me. I know, by the way, the issue is not about whether it is a palace but rather if a benefit was received. Still, is this an upmarket suburb?

 

[sandgk]

Plaschke writes for the L.A. Times, I believe, and is a total LA homer (ever see him on Around the Horn?). Therefore, I'm not surprised that he defends USC here.

Which is why it said "An Interesting Perspective - LA Times" in the header to my post.

I have a quick question. If I do my math correctly, then the information about $2000 a month rent sounds possible. $757000 at 6.5% for 30 years flat should be a payment of about $2200. If that is so, is it not possible that if both parents were working, then they could have been paying that rent? I know it looks different, but is it perhaps possible that they could have been paying this?

Oh, and another question. From what I see, the average house price in San Diego is about $500,000. Is that accurate? The pictures I see don't make this house look like a palace to me. I know, by the way, the issue is not about whether it is a palace but rather if a benefit was received. Still, is this an upmarket suburb?

The math may be even more favorable than that.
Given the lack of distribution from escrow to San Diego County tax collection it is entirely possible that the original mortgage was on 80% of the selling price -- in fact it is listed elsewhere as having an initial lien of $600,000, which is 79.26%. (Though there were subsequent liens of $150,000 and later $60,000 taken out against the property by Michaels, these may have been through other lenders. The upshot of which could be that Michaels is now in hot water with the primary lender for not setting up escrow as his total loan to value - without an upward appraisal - is now at 107% of sales price).

Anyway - if $2200 is good for a 6.5% loan on 757,000, the first lien could demand as little as $1795 to service - that is if 757K at 6.5% would be given flat over 30 years -- which it is not.
A more typical conventional loan product at 600K over 30 years at 6.5% will demand more, much more than $2200.
Current data from Quicken

<TABLE id=widget_result><TBODY><TR class=widget_result_header style="HEIGHT: 20px" align=middle><TH>Your Potential
Monthly Payments</TH><TH>Loan Option</TH><TH>Rate (APR) %</TH><TH>Select If
Interested</TH></TR><TR class=even style="HEIGHT: 20px" align=middle><TD class=even_hot>$ 2,750.00</TD><TD class=legend>Smart Choice 3-Year</TD><TD noWrap>5.500 (7.013)</TD><TD><INPUT id=543l_moreinfo onclick=addToList(this.form,this.value,this.checked) type=checkbox value="Smart Choice 3-Year" name=543l_moreinfo></TD></TR><TR class=odd style="HEIGHT: 20px" align=middle><TD class=odd_hot>$ 3,312.50</TD><TD class=legend>Smart30</TD><TD noWrap>6.625 (6.738)</TD><TD><INPUT id=191sc_moreinfo onclick=addToList(this.form,this.value,this.checked) type=checkbox value=Smart30 name=191sc_moreinfo></TD></TR><TR class=even style="HEIGHT: 20px" align=middle><TD class=even_hot>$ 3,406.73</TD><TD class=legend>3-Year ARM</TD><TD noWrap>5.500 (6.971)</TD><TD><INPUT id=593l_moreinfo onclick=addToList(this.form,this.value,this.checked) type=checkbox value="3-Year ARM" name=593l_moreinfo></TD></TR><TR class=odd style="HEIGHT: 20px" align=middle><TD class=odd_hot>$ 3,501.44</TD><TD class=legend>5-Year ARM</TD><TD noWrap>5.750 (6.826)</TD><TD><INPUT id=595l_moreinfo onclick=addToList(this.form,this.value,this.checked) type=checkbox value="5-Year ARM" name=595l_moreinfo></TD></TR></TBODY></TABLE>

Now before someone jumps all over the $2000 rent versus these high payments Michaels would suffer it is not uncommon for the rent to fail to cover the full debt on the property, and the taxes, and etc, etc.

Michaels may have been getting zero from the Griffins, or he may have been getting $2000 or less. If the latter applies then he is suffering a "Passive Loss."

Oh, and as for San Diego property values, the particular Zip Code for the Griffin's residence sports median values for new construction, single family homes at or around the purchase price in 2005 of the erstwhile Griffin residence. It is purportedly a nicer neighborhood.

 

[buckeyeboy]

Hmm, media in USC's backyard circling the wagons for the Trojans perhaps?
LINK

The way Carroll makes it sound, understanding what a mortgage is and the ability to comprehend that your parents don't earn enough to afford a $750K house is rocket science. This is insulting to Reggie, IMO b/c he makes it sound like Reggie's a 5 year old who can't understand such basic concepts.

 

[jimotis4heisman]

http://www.dqnews.com/ZIPSDUT.shtm

steve i posted this earlier its dataquick real estate for san diego. its by zip.

 

[sandgk]

http://www.dqnews.com/ZIPSDUT.shtm

steve i posted this earlier its dataquick real estate for san diego. its by zip.

Thanks -

Here are the relevant two lines from that table
Only for Sping Valley 91977, New Home Sales
<TABLE style="TABLE-LAYOUT: fixed; WIDTH: 573pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=765 border=0 x:str><TBODY><TR style="HEIGHT: 13.2pt" height=18><TD class=xl351422 style="BORDER-TOP: medium none; BORDER-LEFT: medium none">Sales</TD><TD class=xl391422 style="BORDER-TOP: medium none; BORDER-LEFT: medium none">Median</TD><TD class=xl411422 style="BORDER-TOP: medium none; BORDER-LEFT: medium none">% Chg</TD></TR></TBODY></TABLE>
<TABLE style="TABLE-LAYOUT: fixed; WIDTH: 573pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=765 border=0 x:str><TBODY><TR class=xl271422 style="HEIGHT: 10.2pt" height=14><TD class=xl361422 style="BORDER-TOP: medium none; BORDER-LEFT: medium none" x:num>17</TD><TD class=xl331422 style="BORDER-TOP: medium none; BORDER-LEFT: medium none" x:num="707000">$707,000</TD><TD class=xl341422 style="BORDER-TOP: medium none; BORDER-LEFT: medium none" x:num="0.2044293015332197">20.4%</TD></TR></TBODY></TABLE>

 

[buckalum01]

Take away his Heisman?

http://sports.espn.go.com/espn/page2/story?page=bayless/060425

Interesting take on the subject. I doubt it would happen and question if it should happen, but it is an interesting concept.

Just like everybody would know who won the 12 games USC played in, if those wins had to be vacated; so too would people know who won the Heisman. Whats the point? This is why NCAA enforcement is hard to maintain and even harder to show fairness and justice after the fact.

I think if you really wanted to have some teeth, then you set up a system that can fine system abusers- either the schools or the players or both. At least then people would know that if they got caught that their wallets would be lighter. Make the penalties big too. Take the money generated from those fines and set up extra scholarships for deserving recipients (not athletes).

 

[SanClementeBuck]

Steve19: FWIW: Our residential real estate here in San Diego, Orange County and L.A. region is relatively high. $500K average is not unusual; $750K for a 2Ksqft home in non-gated communities is not unusual.

What may have happened here is buying house in Apr05 to "flip"...a not uncommon technique for some, wherein, a property is purchased with the full intention of re-selling same property within a year or two and realize the appreciation for profit.

Since interest rates have started up in recent months, "flipping" is becoming much less popular out here, thus properties are on the market longer, and, the average selling price per property is increasing very little, if any, compared to the past several years. Along with "flipping", many buyers (last year in San Diego County, 46% of new mortgage loans were interest only loans!), took out interest only loans, thus lowering their monthly payments. Of course, this process is financial madness defined.

If this guy Michael hasn't made payments on his Apr05 mortgage, or is delinquent, he may be "upside down" on his speculative house purchase, and unable to "flip" the property for a profit...bad timing? Much too risky? Not enough cash flow to service existing mortgage? Probably all of the above. All of my speculation has nothing to do with Bush or parents.

 

[jwinslow]

http://sports.yahoo.com/nfl/news;_y...kcvrYF?slug=cr-bush042606&prov=yhoo&type=lgns

Lake was allegedly in contact with Bush & Justice before the UCLA game.

 

[lvbuckeye]

San Diego County assesses the value of the house at $339,394.

Besides, whether or not the Griffins can afford the house is less relevant than the question ESPN did ask, "Who paid the rent". That question is more relevant to potential infractions (the Griffins could afford something and still not have paid for it) and a lot less invasive of a question.

smells like bullshit. i live in an 1,800 foot house, it's worth $455,000. in Vegas.

 

[sandgk]

Quote:
<table border="0" cellpadding="6" cellspacing="0" width="100%"> <tbody><tr> <td class="alt2" style="border: 1px inset ;"> Originally Posted by methomps
San Diego County assesses the value of the house at $339,394.

Besides, whether or not the Griffins can afford the house is less relevant than the question ESPN did ask, "Who paid the rent". That question is more relevant to potential infractions (the Griffins could afford something and still not have paid for it) and a lot less invasive of a question.
</td> </tr> </tbody></table>

smells like bullshit. i live in an 1,800 foot house, it's worth $455,000. in Vegas.

Well it looks bad put side by side.

More likely though the $757K price paid reflected prevailing real-market values.

The assessed value of $339K reflects the willingness of San Diego County to get the maximum taxes out of their home owners.

I am fairly certain that a close examination of recent new home sales of comparable size in San Diego County Zip 91977 will reveal similar disparities - 339K asessed vs 757K paid is not a smoking gun.

 

[methomps]

The question of whether SC is on probation was raised on WeAreSC, so I thought I'd forward the answer I gave:

Our probation ended in August 2003. However, we could have some issues with the "repeat offender" bylaw since this incident is occuring within 5 years of our last major penalty (August 2001):

<!--EZCODE BOLD START-->19.6.2.3 Repeat Violators<!--EZCODE BOLD END-->
<!--EZCODE BOLD START-->19.6.2.3.1 Time Period.<!--EZCODE BOLD END--> An institution shall be considered a “repeat” violator if the Committee on Infractions finds that a major violation has occurred within five years of the starting date of a major penalty. For this provision to apply, at least one major violation must have occurred within five years after the starting date of the penalties in the previous case. It shall not be necessary that the Committee on Infractions’ hearing be conducted or its report issued within the five-year period.
(Revised: 1/14/97 effective 8/1/97)

<!--EZCODE BOLD START-->19.6.2.3.2 Repeat-Violator Penalties.<!--EZCODE BOLD END--> In addition to the penalties identified for a major violation, the minimum penalty for a repeat violator, subject to exceptions authorized by the Committee on Infractions on the basis of specifically stated reasons, may include any or all of the following:
( R e v i s e d : 1 / 1 1 / 9 4 )
( a ) The prohibition of some or all outside competition in the sport involved in the latest major violation for one or two sports seasons and the prohibition of all coaching staff members in that sport from involvement directly or indirectly in any coaching activities at the institution during that p e r i o d ;
( b ) The elimination of all initial grants-in-aid and all recruiting activities in the sport involved in the latest major violation in question for a two-year period;
( c ) The requirement that all institutional staff members serving on the Board of Directors, Management Council, Executive Committee or other committees of the Association resign those positions, it being understood that all institutional representatives shall be ineligible to serve on any NCAA committee for a period of four years; and
( d ) The requirement that the institution relinquish its voting privilege in the Association for a four-year period.

 

[crazybuckfan40]

Well either way I don't think Reggie and his family will be worrying about money anymore.

Rumor has it that he has reached an agreement with the Texans. 6yrs 49 mill. 28 guaranteed. This is from nfl network, and was supposedly said on tv. I am sure this will hit the news outlets soon.

 

[ChrisWells28]

im tired about all the reggie bush talk arent you guys, just go to espn college football page its all about bush and his house and mom!!!!?????its getting annoying like the TO when it was on espn everyday on ever show, im overwelmed!

 

[jwinslow]

espn knows nothing except repetition.

 

[scooter1369]

San Diego County assesses the value of the house at $339,394.

The house is only a year old. Taxable values are calculated at intervals of at least a year.

This the trap that MI Homes tried to get me on. Saying my taxes would only be so much. I looked into and they were quoting taxes on the unimproved land. The following year, my taxes would have nearly tripled.