Bank Strikes Out Jose Canseco's House

Posted May 2nd 2008 9:20AM by TMZ Staff

Retired baseball star Jose Canseco's 7,300 square foot $2.5 million Encino, California mansion has been foreclosed on. Maybe he should get a place with Latrell Sprewell.
Jose Conseco loses his house to foreclosure
In an interview this week, Canseco blamed his financial woes on a couple of divorces and the fact that after taxes, he was really only living on $17 or $18 million.

The slugger did admit that his financial situation is different than most Americans and that he felt sympathy for other families going through foreclosures -- with even fewer millions than he has.

Filed under: Talk Sports, The Rich Life

Comments [34]

Digg it Del.icio.us My Yahoo Sphere RSS MySpace Permalink Email

Reader Comments

(Page 2 of 3)Previous 15 Comments | 1 | 2 | 3 | Most Recent | Next 15 Comments

16. Me and my friends see him gambling all the time at Hollywod Park Casino...this guy blew everything in the casino what a loser

Posted at 11:57AM on May 2nd 2008 by Daniel

17. CAN SOMEONE EXPLAIN TO ME WHY HALF OF THESE CELEBRITIES BOTHER WITH MORTGAGES TO BEGIN WITH? THAT IS THE DUMBEST THING. PAY YOUR HOUSE OFF SO WHEN YOUR CAREER IS NOT WHAT IT USE TO BE, AT LEAST IT'S PAID OFF. JUST GOTTA WORRY ABOUT THOSE YEARLY PROPERTY TAXES AND INSURANCE. IT'S TRUE WHAT THEY SAY, JUST BECAUSE YOU HAVE MONEY DOESN'T MEAN YOU KNOW HOW TO MANAGE IT. I HAVE NO SYMPATHY FOR SOMEONE WHO MADE THAT KIND OF MONEY AND WASN'T SMART ENOUGH TO DO RIGHT. JUST BECAUSE YOU MAKE A LOT DOESN'T MEAN YOU HAVE TO LIVE THE INSANE LIFESTYLE. YOU CAN CHOOSE TO KEEP IT SIMPLE IF YOU WANT. BUT TOO MANY OF THEM LIKE TO SHOW OFF.

Posted at 12:02PM on May 2nd 2008 by WHATEVER

18. So true! Pay off your mortgage when you have the money to outright pay for it. At least the ex-wives and children are being provided for.

Posted at 12:34PM on May 2nd 2008 by Sara

19. Basically, he walked out on his home when the value of it kept falling. He can't sell it if it is now worth less than his mortgage. He probably took out home equity loans to when the real estate market was booming. That is when greed sets in.

Posted at 12:52PM on May 2nd 2008 by Sara

20. 100 agreed with Dallas

This is one FUGLY house ! When i see this crap, i'm sure money can't buy you good taste.

Posted at 12:52PM on May 2nd 2008 by Huckbilly

21. ...good! that is one smug mofo!

Posted at 1:23PM on May 2nd 2008 by Allen

22. L*O*S*E*R

Posted at 1:28PM on May 2nd 2008 by Just call me trailer trash....

23. If he's so wealthy, why the hell did he do VH1 Surreal Life? What a greasy steroid jacked up moron. Maybe he can go live with Barry Bonds

Posted at 1:32PM on May 2nd 2008 by JoJo Simmons

24. Your last line is basically what I posted. :)

Posted at 2:31PM on May 2nd 2008 by Sara

25.
yet another example of an athlete /
entertainer exhausting all their means;

in a 17 year baseball career, he
made a total of $46 million dollars.

granted L.A.M. ( lawyers, agents & managers )
took 20% off the top, still left $37 million before taxes.

within a 50% tax bracket, leaves him with over 19
million, roughly 1 million dollars a year to live on.

now granted he collected from appearance, card shows,
endorsements, book deals & t.v. shows, lets be kind and
round that off with another 6 over the past fleeting years.

how do you one blow through $25
million after tax dollars in 20 years ?

typically, addictions, cars, gambling,
homes, jewelry, travel and women.

inclusive of paying out for his contractual
relationships ( marriages ) and producing offspring's.

the man has / had every god given thing " handed "
to him and today he STILL can't make a living ?

please..........

Posted at 2:51PM on May 2nd 2008 by slave nat turner

26. Nice synopsis, nat. These are athletes, not business students. Athletic clubs should have mandatory financial management classes for these athletes if they're going to pay them those huge sums. The addiction vices are their own problem.

Oh, and why would you EVER call yourself slave to anyone? I won't address you that way. What a step backward. Are you feeling blue or something?

Posted at 4:08PM on May 2nd 2008 by LightBulb

27. If he is living on ONLY $17 or $18 million, why can't he pay off a $2.5 mil house? POOR GUY. How will he get money for tonite's dinner? YEAH RIGHT!

Posted at 4:17PM on May 2nd 2008 by HI YA\\\'LL

28. NUMBER 7 - I AGREE WITH U... WHAT DO THEY DO WITH THEIR MONEY....HIS HOUSE ON **FORECLOSURE**. THIS GUY HAS MILLIONS... CANNOT UNDERSTAND WHAT HAPPENED.... HE IS THE ONLY ONE THAT KNOWS....;
SORRY 4 WHAT IS HAPPENING TO HIM......

Posted at 6:40PM on May 2nd 2008 by Shirliana

29. hmmmmmmm...........how did Jessica Canseco make her money when Jose was in jail????? These people are all trash.

Posted at 8:16PM on May 2nd 2008 by anonymous

30. I'm sorry.....but whatever personal business he has.....losing his house.....whatever......
The man has money......he'll be fine.....
And.....he's HOT
End of story.

Posted at 10:37PM on May 2nd 2008 by Transit

Previous 15 Comments | 1 | 2 | 3 | Most Recent | Next 15 Comments

Add your comments

Please keep your comments relevant to this blog entry.
Inappropriate or purely promotional comments may be removed. E-mail addresses are never displayed, but they are required to confirm your comments. Your e-mail address is what makes your comments unique, not your user name. To create a live link, simply type the URL (including http://) or e-mail address and we will make it a live link for you. You can put up to three URLs in your comments. Line breaks and paragraphs are automatically converted -- no need to use <p> or <br> tags.