Former Baseball Star Jose Canseco has California Home Foreclosed

“Jose Canseco, the former AL MVP who made millions during his baseball career, has had his home foreclosed. “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.”

Yahoo, AP News http://news.yahoo.com/s/ap/20080502/ap_on_sp_ba_ne/bbo_canseco_foreclosure

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