Quote:I wasn't aware the bank lent on potential earnings. I need to go to HIS bank!

 

Yep --- the 1st I've heard of this is when LeBron's mom bought him a H2 Hummer in high school while living in public housing.  The bank issued LeBron's mom a $50,000 car loan and assumed the risk; essentially using LeBron as collateral.

 

 http://www.nytimes.com/2003/01/14/sports...ation.html

 

Let's fast forward to real-time.  If Joey Bosa walks into Wells Fargo today requesting a home loan in the amount of $1.2 million for a house he is contemplating purchasing in San Diego (while holding out on his contract), chances are Wells Fargo gives him the loan or Bosa goes across the street and will get it from Chase.  The banks have guidelines but they can get around them if they have substantial justification that the loan will ultimately be satisfied.  Another way is for the bank to give you the loan while also contracting an insurance policy on your potential earnings.   An insurer will consider that easy $$ and charge Wells Fargo a premium for a policy that they know will never incur a claim unless Bosa suffers a career ending injury prior to signing his contract. 

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