Even rich guys are walking away from their underwater properties these days:
[Thanks L!]
Former U.S. baseball star Jose Canseco said on Thursday he had lost his California mansion to foreclosure — one of the first celebrities to publicly admit being a statistic in the U.S. housing crisis.
Canseco, 43, one of the most flamboyant U.S. baseball players until his retirement from the major leagues in 2001, told the celebrity TV show "Inside Edition" that it did not make financial sense to keep his 7,300 square-foot (678.2 sq-metro) home in the Los Angeles suburb of Encino.
"Inside Edition" said it had foreclosure documents showing Canseco owed a bank more than $2.5 million on the house.
"I’ve been out of the game for about eight or nine years and obviously this issue with the foreclosure on my home," he told "Inside Edition."
"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.
Maybe this could be the start of a new HGTV series: "Foreclosures Of The Rich And Famous"!
… 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.
Perfect, rational, flawless logic.
Jingle mail,
jingle mail,
jingle all the way!
Good for you, Jose.
what happened to the last post on phoenix sales? I went to the jump, and it was gone?
Ingydesu-
I made the mistake of finishing that post at 1:00 am, and had an error in the figures. M sent me the right sales numbers, but I had the wrong number for last year- sales were down more than I thought.
I need to make a correction. My apologies
Do stereoids make you smarter?
Well, great headline, but who knows what the judgment was for. He may have had a judgment based on a civil lawsuit he’s trying to avoid paying. The judgment attaches to your property so you can’t sell without paying the judgment. If he rents, he doesn’t have this problem. So, he may have even had equity and the ability to pay for the house, but not enough to pay the judgment.
Just thought I’d share the latest Metro Phoenix Trustee’s Sale Notice numbers.