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May 2, 2008
Home Mortgage Crisis Claim High-Profile Victim
The home mortgage crisis has claimed another victim: motor-mouthed former baseball player Jose Canseco, who deliberately walked away from his $2.5 million mansion because he didn't feel like paying for it. Explains Canseco:
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.
Some might think that because Canseco was paid $millions upon $millions to play baseball, he could afford to pay his bills. Not true:
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.
Speaking of family, he says a couple of divorces have cost him $7 or $8 million.
Let's bring in the federal government, so that those of us who pay our own way can bail out poor Jose and others who don't like it when the bills come due.
Hat tip: Michelle Malkin; on a tip from Wiggins.
Posted by Van Helsing at May 2, 2008 9:18 AM
Comments
He blew most of his money scoring steroids.
Last night, during commerical breaks for LOST, I caught some of the dying series ER - a guy held everyone hostage because he robbed a jewelry store - why did he do that? He had an adjustable rate mortgage and his payments went up and the house was foreclosed. But at least a sharpshooter finally punched his clock in the end!
Posted by: Anonymous at May 2, 2008 9:41 AM
The poor guy! How could anyone possibly survive on $10 million?! I may cry for days knowing he gave up his 7300 sq ft hovel.
Posted by: steven at May 2, 2008 10:07 AM
history repeats.
mike tyson,
and MC hammer
WOOT
Posted by: furballz at May 2, 2008 10:56 AM
>>That leaves you with about $17 or $18 million, not even. Then you're taking care of your whole family.>>
I love my family, but that's enough to take care of parents, grandparents, aunts, uncles, second and third cousins!
Posted by: KHarn at May 2, 2008 12:06 PM
What a doughhead! He deserves to live under an interstate overpass.
Posted by: HoosierArmyMom at May 2, 2008 12:24 PM
80% of homeowners trash their houses before foreclosure. Makes *me* feel a little less eager to bail them out.
Posted by: V the K at May 2, 2008 1:56 PM
He could pick lettuce with those arms if he's really that strapped for cash.
Posted by: Anti-PC Man at May 2, 2008 2:25 PM
Man, that's tough. I remember when I had to pay millions in taxes and only had about 10 million left. We were eating beans and cabbage, buying those cheap noodles for like 25 cents a package. I totally understand how it is when you're down to your last few mill, you hate to part with it. And thinking about your little children wearing second hand clothes to their private schools, the wife having to drink domestic wine.
I hear ya bro. Word.
Posted by: NudeGayWhalesForJesus at May 2, 2008 2:34 PM
Dope.
He can walk away, but the bank will sell the house for peanuts and chase his paycheck for the shortfall.
If he couldn't play baseball, he'd be washing cars.
Posted by: Jim - PRS at May 2, 2008 5:34 PM
He's an ASS. Deport him.
Posted by: Oiao at May 2, 2008 6:03 PM
reminds me of another moron....Latrell Sprewell who foreclosed on a half-million dollar house because he didn't make the $2,593 payments since sept 2007.
What kind of idiot making the kind of money that Sprewell was making would even think about financing a $500,000 house? why not pay cash?
Posted by: Ludwig Van Beethoven at May 2, 2008 8:34 PM
