Author Topic: Michael Jackson Risks Losing Neverland Ranch (Read 1216 times)

hazel · « **on:** November 08, 2007, 03:09:01 AM »

Agence France-Presse

LOS ANGELES -- One-time "King of Pop" Michael Jackson is at risk of losing his Neverland ranch in California due to delinquent loan payments, according to documents posted online.

As of October 12, Jackson owed $23.2 million on a $23 million loan he took out in March 2006, according to a foreclosure and notice of default report posted online by the Santa Barbara County, California branch of Fidelity National Financial insurance company.

Jackson put up Neverland in Santa Barbara county as collateral for the loan, according to the document, first revealed late Tuesday by the celebrity site TMZ.com reported.

Jackson's spokesman Raymone Bain had no immediate comment when contacted by Agence France-Presse.

According to TMZ.com, default notices in California are usually issued when a homeowner misses their third payment.

The eccentric music legend has been struggling to rebuild his career following his acquittal for child molestation charges in 2005.

Neverland, some 1,000 hectares (2,800 acres) large, is some 200 kilometers (125 miles) northwest of Los Angeles.

Jackson left the property in June 2005 after being acquitted of the child molestation charges and had been living in Bahrain, Europe and in the gambling capital of Las Vegas, in the western US state of Nevada. According to TMZ he is currently renting an expensive home in Washington.

In mid-July Jackson was ordered to pay more than $256,000 in overdue fees to a California law firm he employed for work connected to his sex abuse trial.

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Lorenzo · « **Reply #1 on:** November 08, 2007, 03:11:43 AM »

wow, isnt he now in dubai or something?

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Happy · « **Reply #2 on:** November 08, 2007, 03:15:26 AM »

Na! Abi nako gibaligya nana niya kay kita man gud ko sa VH1 nga giapil mana sa mga Realtors ug presyo.

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Author Topic: Michael Jackson Risks Losing Neverland Ranch (Read 1216 times)

hazel

Michael Jackson Risks Losing Neverland Ranch

Lorenzo

Re: Michael Jackson Risks Losing Neverland Ranch

Happy

Re: Michael Jackson Risks Losing Neverland Ranch