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Neverland in Foreclosure?

11/6/2007 10:19 PM PST BY TMZ STAFF

Rumors have been rampant for months that Michael Jackson's Neverland estate was about to be foreclosed upon, but now comes the first concrete evidence that Jacko's home is about to go back to the bank. Who's bad?

The Implode-O-meter has obtained the foreclosure and Notice of Default report for Santa Barbara County -- and Neverland is listed. According to that report, Jackson is, as of October 12, delinquent $23,212,963 on a $23,000,000 loan.

Notice of Defaults in the state of California typically go out when a homeowner misses their third payment. After another 30 days, the homeowner is issued a foreclosure notice. According to this document, it appears that the King of Pop is $212,963 delinquent on the loan's principal of $23 mil.

A rep for Jackson did not immediately return our call for comment.

208 COMMENTS

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1.

Portland Real Estate    

Wow what happened to him?

2409 days ago
2.

notaceleb    

Instead of Jacko, how about sicko!

2456 days ago
3.

slomoe    

Maybe all the Rap and Hip Hop thugs stole his $ and now he can't pay the mortgage?! Probably so since they are all criminals.

2456 days ago
4.

JAMES    

FINALLY, NOW PEOPLE WILL BELIEVE ME, THAT THIS (CHILD MOLESTER IS BROKE!!!!!!

2456 days ago
5.

Yuck    

Burn it down raze it and turn it into a landfill

2456 days ago
6.

Woo I love Britney, Paris. Nicole and Lindsay!    

oh emm Geee

2456 days ago
7.

Blah blah blah    

Brit-Brit's next.

2456 days ago
8.

just wondering    

..soooooooooooooooo sad how that man turned out!!!!!!!!!!!...his poor kids!!...great memories of the Jackson 5 growing up!!

2456 days ago
9.

roughdaddy    

# 2 whats micheal jackson's money woes have to do with hip hip and rap bird brain???

2456 days ago
10.

slomoe    

You all just wish you were Jacko. He's dreamy!

2456 days ago
11.

S    

Saw on T.V. recently that Neverland was for sale and someone was interested. He just wanted all of the carnival stuff removed.

2456 days ago
12.

meltz11    

Hopefully Paul McCartney will be able to buy back The Beatles catalog from this pedophile at a discount.

2456 days ago
13.

Jean    

Michael Jackson does not want that home anymore. He no longer likes it because cops raided his home and he doesn't call it "home" anymore. MJ doesn't care about Neverland which is why he's not in a hurry to pay for it.

2456 days ago
14.

Giggles    

I think I'll buy it and put 3 houses and a hotel on it. I've heard it also comes with a "get out of jail free" card.

2456 days ago
15.

eyeamtym    

michael come back your music is great

http://myspace.com/nemerom

2456 days ago
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

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