Friday, May 2, 2008

No way, Jose...

Not that I generally hold sports stars in very high regard but I'm going to give Jose Canseco the benefit for the doubt for now and say that maybe he misspoke on the TV show Inside Edition when he said: "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."

I'm going to say he misspoke because I basically translated that statement as: "I don't understand what a mortgage is. There's no way I'm going to continue to pay for my freakin' mansion because paying for something you don't own is stupid even if you will own it someday by continuing to pay for it."

I don't know all of the details and (to be honest) I don't really care enough to find out. The only justification I can see is that his interest rate might have been way out of hand and/or he was paying an interest only mortgage. Paying even an interest only loan on a $2.5M home would suck. I couldn't do it. However, it sounds like he tries to justify letting his home get foreclosed on by saying that it's hard to take care of your family on $17-18M after taxes.

You've got to be kidding me.

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