Former professional baseball superstar Joe Canseco just didn’t have the “Juice” or the desire to hang on to his 7,300-square foot mansion in Encino, Calif., according to Yahoo!News.com.

In fact, he simply walked away from the $2.5 million home because it “didn’t make sense” to continue paying the mortgage. Unsurprisingly, the lender has issued foreclosure proceedings to reclaim its asset.

Here’s a snip from the former “Bash Brother:”

“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…. You know my life, this financial thing, is a very complicated issue. Obviously, when you make all that money, people think, `OK, let’s assume it is $35 million.’ People have to understand that $35 million, you’re paying the government 41 percent. That leaves you with about $17 or $18 million, not even. Then you’re taking care of your whole family.”

Canseco — the 1998 American League Most Valuable Player (MVP) and six-time All Star — reveals that divorces have also cost him millions.

He essentially retired from the sport in 2002 despite some unsuccessful attempts to return since that time.

However, in 2005, Canseco penned a controversial autobiography dubbed, “Juiced: Wild Times, Rampant ‘Roids, Smash Hits & How Baseball Got Big,” which was a scandalous glimpse into his own steroid abuse, as well as (allegedly) his peers … and much more.

It was a best seller. And there’s recent news that he’s signed on to write a sequel.

Cha-ching.

It appears that “The King of Pop” music, Michael Jackson, is getting closer to losing his sprawling Neverland Ranch estate located in Los Olivos, Calif., to foreclosure.

Here’s the latest from FOXNews.com:

“According to sources, the mortgage broker trying to find refinancing for Jackson on a $23 million loan held by Fortress Investments using Neverland as security has so far come up empty. There is literally no interest from anyone in saving Jackson in this situation. If Neverland is not refinanced, Fortress can foreclose and sell the ranch at auction. “

Back in November 2007 we first passed along news that foreclosure action was possible on the massive home located at 5225 Figueroa Mountain Road in Santa Barbara County. To check out the listing on Foreclosure.com click here.

The report indicates that Jackson’s Neverland Ranch “may be vulnerable to foreclosure next Friday [January 18].” Stay tuned for more details.

Even the rich and famous are not immune from foreclosure situations.

Case in point: Pop superstar and cultural musical icon since the late 1960s, Michael Jackson, is in jeopardy of losing his sprawling 2,800-acre Neverland Ranch in Los Olivos, Calif., to the lender, which recently filed a notice of default in the amount of $23 million.

We sift through countless distressed nationwide real estate listings each and every day. In fact, at press time we had more than 1.5 million listings currently available on Foreclosure.com.

With this massive volume of accurate data it is hard to point out each and every instance. We’ve been doing it more and more with our “Deal of the Day.”

However, we felt compelled to pass along this latest news of the Jackson foreclosure to illustrate that unexpected situations constantly emerge that can trigger a default notice — and it can happen to anyone.

To check out the listing on Foreclosure.com at 5225 Figueroa Mountain Road in Santa Barbara County click here.

It’s important to note that this property is in preforeclosure. Indeed, Jackson still owns it and the bank has not repossessed it … yet. In fact, he has about 120 days (February 2008) to bring the loan current and stop foreclosure.

On the other hand, an independent investor can also work out a deal with Jackson and the bank in the next few months to purchase the ranch while it’s in preforeclosure. He no longer lives there, which means that it may be possible to settle for far less than the $23 million owed to the lender.

Who knows …. someone could be in for a real “Thriller.” That’s because there is no telling if the elephants, giraffes and other animals, as well as the high-end toys that could be included in a package deal.

Location: San Joaquin, California
City: Stockton
Price: $655,000
Zestimate: $1,070,025
Difference: $415,025

Note: Other comparable listings in the area range from $477,013 to more than $1 million. For more property details or to talk to a local real estate agent/broker about this listing CLICK HERE.

This one is on the high end in terms of price, but the long-term profit potential is astronomical.

To check out some of the other “Deals of the Day” feel free to visit our archive.

What’s the deal of the day? We comb through our nationwide database of more than 1.2 million distressed real estate listings to showcase some of the best investments available on our Web site each morning. These listings represent just a small fraction of the amazing investment opportunities available at Foreclosure.com. To find more bargains like the one pictured above search Foreclosure.com or sign-up for FREE Email Listing Alerts.