Skip to: Content
Skip to: Site Navigation
Skip to: Search
WEDNESDAY, NOVEMBER 25, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


0

Celebrity Foreclosure: Canseco's Out at Home

Former baseball star forced to move into smaller home

Share

(Newser) – It can happen to the rich and famous, too: Jose Canseco's mansion is in foreclosure, and he's had to move into more modest digs, Inside Edition reports. Canseco owed more than $2.5 million on the California property his neighbors called the "hotel." He made $30 million in baseball and wrote two best-sellers, but it wasn't enough to save him from becoming a high-profile statistic of the housing collapse.

"Go through a couple of divorces, $7 or $8 million cash," Canseco said. "I've taken care of my family for 20-something odd years—that gets expensive when you've got a whole group of people relying on you for income."

Former major league baseball player Jose Canseco exits the Grand Hyatt Hotel in New York in this Dec. 13, 2007 file photo. C
Former major league baseball player Jose Canseco exits the Grand Hyatt Hotel in New York in this Dec. 13, 2007 file photo. C   (Associated Press)
Former baseball player Jose Canseco's book called
Former baseball player Jose Canseco's book called "Vindicated" on display at Kepler's Bookstore in Menlo Park, Calif., Tuesday, April 1, 2008.   (Associated Press)
Former baseball player Jose Canseco's book called
Former baseball player Jose Canseco's book called "Vindicated" is shown on display at Kepler's Bookstore in Menlo Park, Calif., Tuesday, April 1, 2008.   (Associated Press)
Former major league baseball player Jose Canseco exits the Grand Hyatt Hotel, Thursday, Dec. 13, 2007, in New York.
Former major league baseball player Jose Canseco exits the Grand Hyatt Hotel, Thursday, Dec. 13, 2007, in New York.   (Associated Press)
Jose Canseco appears at a hearing by the House Government Affairs Committee looking into the use of steroids among major league baseball players.
Jose Canseco appears at a hearing by the House Government Affairs Committee looking into the use of steroids among major league baseball players.   (KRT Photos)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

42 Stories

 Goldman Seizes Homes 
 as Securities Sour 




Just getting them to admit they hold your mortgage can be an ordeal

Nov 2, 09 8:21 AM CST
(Newser) - Imagine finding yourself in a foreclosure battle and discovering that your opponent isn't the obscure lender who wrote your insane mortgage, but the formidable Goldman Sachs. It seems that after years of buying subprime mortgages and packaging them into bonds, at a handsome profit, Goldman is now in the business... More »

MORE ABOUT:
housing market • Goldman Sachs • subprime mortgages • Henry Paulson • foreclosure • subprime crisis • mortgage defaults

Watchdog: Feds Need to Expand Foreclosure Plan

$50B plan proving ineffective as more mortgage holders lose their jobs

Oct 10, 09 5:00 AM CDT
(Newser) - The Treasury's $50 billion loan-modification program is in danger of being swamped as the foreclosure crisis accelerates, the Congressional Oversight Panel said in a report yesterday. The Home Affordable Modification Program has met its target of 500,000 trial mortgage modifications started by November 1, but the watchdog warned that... More »

MORE ABOUT:
housing market • subprime mortgages • foreclosure • mortgage • subprime crisis • negative equity • Obama administration • TARP • mortgage modification • underwater mortgage • Home Affordable Modification Program

investigation

Mortgage Scammers Prey
on Strapped Homeowners

So-called rescue firms promise to negotiate lower rates, then take money and run

Sep 24, 09 7:50 PM CDT
(Newser) - Mortgage brokers who made a mint during the housing boom setting up homeowners in toxic loans are now profiting from a different sort of shady deal. So-called foreclosure rescue firms are proliferating across the US, taking money upfront and promising to negotiate with homeowners’ banks for better interest rates. Instead,... More »

MORE ABOUT:
foreclosure • mortgage • scam • mortgage debt • homeowners • housing crisis • interest rates • Federal Trade Commission

42 Stories


More on Conseco's 'literary' career
CNBC

Readers respond to Canseco's financial straits
Los Angeles Times


Gossip 
TwitterFollow @NewserGossip on Twitter

 
foreclosure • mortgage • debt • Jose Canseco • Washington Mutual • mortgage loans • mortgage debt • mortgage lender • subprime crisis • mortgage defaults

from our news partners