Loan Updates
About Jose Canseco getting foreclosed:
The house already had at least one lien placed on it, from the Internal Revenue Service, and a judgment stemming from a 2005 court ruling in which Mr. Canseco and his brother Ozzie were found liable for a 2001 brawl in a Miami Beach nightclub. Together, the liens and judgment totaled some $1.3 million, according to Mr. Emerson and Tina Cameron, Mr. Canseco’s real-estate agent.
“Given that there were liens on the house and the market had gone down, he made the decision to let it go,” Mr. Emerson said. He said that the decline in property values alone meant that Mr. Canseco’s equity in the house had fallen by about $1 million.
Mr. Canseco, who is currently promoting his second tell-all book about baseball and steroids, entitled “Vindicated,” first publicly confirmed the foreclosure to the celebrity television show “Inside Edition.” The book is a best seller.
Jose always knows best. He’s the master of everything he undertakes and he can point as proof to his baseball success, 462 home runs in 17 years, based on a simple philosophy, “see ball, hit ball.” Jose has carried over this philosophy into everything in his life….”See Ferrari, buy Ferrari.” “See money, take money.” Admittedly, Jose’s philosophy of life has brought him some success with girls and fancy cars, but it has not, of late, brought him much success with money. [His lawyer] Rob said, “Right now, Jose has zero money.” In fact, Rob has a lien on one of Jose’s two houses, and “Whenever Jose pisses me off, I threaten to foreclose.” –from Chasing Jose, by Pat Jordan, via Deadspin.
Back in March, Pat Jordan hilariously wrote of his attempt to interview infamous ballplayer Jose Canseco. As noted above, Mr. Canseco seemed to be having some money problems. Today, Reuters reported that Mr. Canseco is walking away from one problem. The former baseball star and author of “Juiced,” the controversial 2005 expose of steroid use in Major League Baseball, said Thursday that he lost his California mansion to foreclosure.
Mr. Canseco, 43, who retired in 2001, told the celebrity TV show “Inside Edition” that it did not make financial sense to keep his 7,300 square-foot 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, Reuters reports.
“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.
Canseco said the foreclosure was not a difficult issue emotionally. But he sympathized with the millions of other Americans who have already lost or face losing their homes because of soaring interest rates on sub-prime loans.
http://www.revver.com/video/855555/refinance-recovery-in-sight/
http://www.revver.com/video/855566/refinance-mess-bad-in-ca/
