Man Facing Foreclosure Wins Lotto

How do you save your house from foreclosure? Play the lotto of course. Well, at least that was the technique that worked for one South Carolina man. The winning ticket brought him a top prize of $400,000.

Officials with the South Carolina Education Lottery say the man, who moved to South Carolina from New Jersey six years ago, was unemployed and about to lose his home before his ticket matched the winning numbers.

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My guess is, playing the lottery is one of the reasons his house was in jeopardy to begin with and that with this sort of stunning financial savvy it will be in jeopardy again very shortly.

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I agree. Dave Ramsey calls the lotto the "poor man's tax". I figure if you can't manage your money well enough to pay for a roof over your head, you sure as well shouldn't be wasting it on something where the odds of a return on your investment are astronomical. Of course if your lack of money management techniques allows you to lose your home due to non-payment, then you probably think buying a lotto ticket is a good idea...it isn't.

When I have some disposable income (ie: when the debts are paid off and investments for retirement/kid's college, etc. have been started) I might buy a ticket or two once in a while just for the fun of it. But that's it.

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The guy was unemployed, I'm sure that he felt desperate and I doubt the money he spent on the lottery ticket would have made any difference in saving his house. I'm happy that he beat the odds and won.