Sometimes these stories write themselves.  Billy Donovan is in a dire financial situation because he doesn’ t know how to properly buy a home. Â ÂÂ

‘It seemed like a great offer at the time — the interest was so low! But then about six months ago, the ARM kicked in, and now my payments are out of control,’ a tearful Donovan told an SSNN reporter in January.

Donovan, who earns an average annual salary of $1.7 million per year, said that while he hates relying on the government for a bailout, it is really the only option he has at this point. By his estimates, the place will end up costing him $30 million after all is said and done.

Donovan’s accountant Ronald Silberstein confirmed the coach’s predicament, adding that it is never a good idea to buy a $6 million piece of property on a 40-year term with no money down–no matter how many staircases the house has.

This is like a how-(not)to infomercial, only the main character is a well known basketball coach who looks like Timothy Bryce from American Psycho.

Celebrities Not Immune to the Real Estate Crisis [HomeGuide 123]

 EDIT: the story is fake. It’s all satire.