VICK SELLING GEORGIA HOME

If you've got several million bucks laying around, you can buy the Georgia home of Falcons quarterback Michael Vick.

Per the Atlanta Journal-Constitution, Vick's seven-bedroom, 8.5-bath estate at Sugarloaf Country Club is available for $4.5 million. Vick bought the house in April 2005 for $3.6 million. The yearly property taxes are $26,720.

The attempted sale comes amid a storm of legal actions against Vick, and while he is awaiting sentencing on federal conspiracy charges. He has been sued by several banks in connection with multi-million-dollar loans, and he eventually will owe the Falcons nearly $20 million in bonus money.

Several readers have asked why Vick would borrow money for various investments when he has plenty of his own money to spend. It's a good question. As we understand it, folks with plenty of money (we'll let you know if we ever meet any) will merely use that money as collateral for loans when they think that they can get a greater return on the borrowed money than the borrowing of the money will cost.

For example, if you can take out a home equity loan at seven percent and invest the money at 10 percent or more, it's a no-brainer.

In Vick's case, the fact that he's heading to jail and his revenue stream is evaporating has caused the banks to swoop in for full payment, in the apparent hopes of getting something/anything if/when he declares bankruptcy.