Celebrity foreclosures

The effects of the foreclosure crisis are rippling throughout the country - and even the rich and famous are not immune.

Encino, Calif.

Zillow estimate: $2.64 million

Mortgage balance: Over $3.3 million

Even the rich and famous are abandoning their homes amid the foreclosure crisis. The former baseball star and poster boy for performance enhancing drugs, Canseco abandoned his 7,300 square foot Encino, Calif. house in the spring.

He bought the four bedroom, six bath contemporary at the top of the market in 2006 for nearly $2.8 million, according to the online real estate service Zillow.com, which tracks home values and sales.

"It didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else. Now I live in a much smaller home. I've got way less than I had before," Canseco told entertainment news program Inside Edition in April.

His mortgage company, Washington Mutual, took possession of the property in May. By that point, Canseco owed $3,328,770 on it, including back payments, fees and penalties, according to the county tax assessor's office.
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