Jose Canseco Loses Home To Foreclosure

LOS ANGELES — Jose Canseco, the former AL MVP who made millions during his baseball career, has had his home foreclosed.

Canseco told the syndicated TV show "Inside Edition" that he walked away from his $2.5 million, 7,300-square foot home in suburban Encino because it didn't make sense to continue making payments.

"I do have a judgment on my home and it to me is very strange because it didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else," he said in an interview that aired Thursday.

"You know my life, this financial thing, is a very complicated issue. Obviously, when you make all that money, people think, `OK, let's assume it is $35 million.' People have to understand that $35 million, you're paying the government 41 percent. That leaves you with about $17 or $18 million, not even. Then you're taking care of your whole family."

He added that a couple of divorces cost him $7 million or $8 million.

Canseco said his top earnings year was $6 million and that his financial situation obviously is different than most people who are losing their homes.

"What about other families that we're hearing on TV, that they're saying, `We have nowhere else to go,'" he said. "I mean, that is amazing. I've got books (he's put out two expose-type books on drug use in baseball), we're now trying to produce the movie to both.

"Like I said, my situation was a little more different than most. I decided to just let it (the house) go, but in most cases and most families, they have nowhere else to go."

Calls by The Associated Press to Canseco and to his attorney, Greg Emerson, were not immediately returned.

Comments

[Chemwiz]

"it didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else," - Jose Canseco

Ahhhh, nice reasoning Mr. Canseco...you have a very good point. It really doesn't make that much sense for me to keep making my house payment either...I'm going to stop next month. Oh, I should stop paying on my car too...and for that matter, I should just back of all verbal or written contracts that I have ever made. Come to think of it, I should should go rob a bank...it makes sense, they Have money and I Don't. I'll let you know how that works out...

[MyOwnPerson]

ROTFLMAO

[Raymondf]

From what I read he could have paid for it, he just chose not to, and walked away from the house so they would foreclose. Big Deal.

[ohiomark]

I guess taking steroids, hitting home runs, striking out alot, having a ball go off your head for a home run, being bitter with no chance for the Hall of Fame and writing a "tell all book" about friends and teammates just doesn't pay as well as it used to.

[elcojonu]

Why is this story even here ?

[Irons]

Canseco can't get enough of himself.

[mlaiuppa]

With $3 million I could retire and live comfortably for the rest of my life.

And this guy is crying because he can't get buy on a lousy $10 million dollars?

Who told you to buy a $2.5 million dollar home? No one needs 7,300 square feet no matter how big the family.

No sympathy here.

Go move back in with your parents if they'll have you.

[obscurant]

Rich people, God bless you...

[bogananda666]

Sometimes just letting a house go into foreclosure is a sound business decision. I've done it. It was the best thing I could do at the time.

[Elwood]

Maybe he can stay with one of his baseball buddies... oh yeah, he ratted them out to make money on his books.

Maybe Bush will bail him out. He likes baseball.

[TheCowman]

I wish the Government would "only" leave me $17 or $18 million to live on.

I'll try to scrape by on that, I know, I know, it'll be tough, but I'll try and manage.

[UnbiasView]

Can you hit a baseball? If not I'd stick to your minimum wage position.

[JoeBlough]

You must think hitting a baseball is important, or something.

[claytongrayum]

why should I care that a dumbass lost his house? What about all the working people in the country that have lost their house? Baseball isn't working, its a game...

[M.S. Bellows, Jr. - Huffpost Blogger]

But note that he's sympathetic to those folks, as well, and tried to make it clear in his interview that he's not claiming to be in the same boat at all.

[SharonB]

Okay... let's get a carpool set up to go to Barnes and Nobles for book signing! I know I will be firstin line to buy it, won't you???????

HELL, NO.

[JoeBlough]

Maybe he can sell steroids out of his new garage.

[wayoutleft]

actually it's not a mansion. it's a bungalow that has been repeatedly injected with growth hormones.

[CindyKay]

I Don't Care!!!! LOL!!!!

[going2ireland]

Boo Hoo hoo hoo!

If you can make the kind of money Canseco made and cannot manage it better than that then he deserves whatever comes his way. He will get absolutely no sympathy from me.

He would have been far better off donating large chunks of his earnings to needed charities that truly do good things for the poor. At least he would have been left with this wonderful feeling that he actually did something to help his fellow man.

Canseco - go live in a trailer park - preferable somewhere in Arkansas where you maybe able to meet your new neighbors - the Clintons.