I am using Linux Mint Cinnamon 14. I have set the $JAVA_HOME and $PATH environment variables in ~/.profile as follows:
        
When it searches for java it looks from left to right in path entries which are separated by : so you need to add the path of latest jdk/bin directory before /usr/bin, so when it searches it'll find the latest one and stop searching further.
i.e. PATH=/usr/java/jdk_1.8/bin:/usr/bin:..... and so on.
then initialize user profile using command: source ~/.bash_profile
and check with: [which java]
you'll get the right one.