RSS Twitter
Baseball star walks away from home, mortgage
by PAUL JACKSON
Friday, May 2nd, 2008, 5:43 am

Jose Canseco, the mercurial baseball star now turned steroid gossip king, has had his house foreclosed on after deciding to walk away from the home. Via the Associated Press:

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 …

“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.”

Looks like this walking away thing is hitting at least some of the upper end market. Interesting, no?



  • Facebook
  • Twitter
  • MySpace
  • Yahoo Buzz
  • Reddit
  • Delicious
  • Share/Bookmark

Origination/Lending
Integrated Asset Services’ (IAS) monthly IAS360 House Price Index declined 0.7% from November to December, the Denver-based default management and...

Read More »

Secondary Markets/Investors
Second liens, commonly made in the form of home equity lines of credit (HELOCs), are so far a silent hazard...

Read More »

Servicing/Default
Edolphus Towns (D-NY), chairman of the House Committee on Oversight and Government Reform, this month began an investigation of the...

Read More »