Mobile Mortgage News

Canseco heads to foreclosure

posted 11 weeks ago on Blown Mortgage

He may be "Vindicated" but Jose Canseco is letting his Encino, California mansion go in to foreclosure as the housing market has tanked. He doesn't see any point in making the payments any more. The $7.7 million house makes for some expensive jingle mail. What happens when the wealthy start walking away? When does preserving your credit score not matter? Where is that line? When is that decision made? Will it become easier for people as we get in to this mess? Will this generation be defined by subprime, bad credit and the shirking of all financial responsibility? Housing Wire has the amusing/scary tale via the AP: Canseco told the syndicated TV show ?Inside Edition? that he walked away from his $2.5 million, 7,300-square foot home in suburban Encino because it didn?t make sense to

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