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"Jose Canseco loses Encino home Former major league baseball player Jose Canseco, pictured, "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," the Associated Press said. In comments to the TV show "Inside Edition," Canseco says, "It didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else."
More from the Associated Press: "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 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."
"After the trial, Jose put his $2.6 million house in South Florida up for sale. He had several offers on it, but decided to take the offer of over $2 million in Mexican telephone stock, which he was prohibited from selling for two years, at which time, the buyer guaranteed him, the stock would be worth $5 million. Two years later, Jose sold the stock for $15,000. "
Classic. Simply Classic. We are dealing with a genius in Jose.
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