Retired ballplayer Jose Canseco’s 7,344-square-foot house foreclosed in Los Angeles’ Encino area

Retired major league baseball player – and admitted steroid user – Jose Canseco has had his 7,344-square-foot house in Los Angeles’ Encino area foreclosed after he was unable to keep making payments on it. The newswires yesterday reported on the foreclosure of Canseco’s house, which is at 18011 Karen Drive in Encino, and the Wall Street Journal followed up with a nice piece on it today. Canseco appears to have owned the home since purchasing it in 2005 for about $2.8 million. Built in 2001, the four-bedroom house has six baths and a pool, and sits on a 0.42-acre parcel, according to public records. “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,” Canseco told the Associated Press, acknowledging that while he made millions in his baseball career, several divorces had cost him $7 million to $8 million each. The Journal called Canseco “perhaps one of the highest-profile homeowners to walk away from a mortgage.” The paper also noted that falling home values in Los Angeles meant that Canseco had lost “about $1 million” in equity in the house. Plus, the house had had liens against it as well. Canseco once owned a mansion at 3823 Pine Lake Drive in Weston, Fla. He sold that mansion in 2002 for $1,550,000 to major-league ballplayer Dimitri Young, according to public records. That mansion measures either 8,331 square feet (according to public records) or 20,000 square feet (according to news accounts from the late 1990s).

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