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Neverland in Foreclosure?

Posted Nov 6th 2007 8:19PM by Celly

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.

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76. Michael has already bought a home on the Eastern Shore of Virginia. How lucky for us to have him in our part of the country.

Posted at 8:19PM on Nov 8th 2007 by raceem

77. I wish I had the money to buy it. If it would go commercial it would be worth
a fortune. Imagine what the tours would bring. It would dwarf the Elvis home tour.

Posted at 8:27PM on Nov 8th 2007 by Steve

78. Goofy Dude, The California government should by it at a discount and use the property to help kids in a positive way. Good Bye Neverland, no Peter has left this lifetime!

Posted at 8:34PM on Nov 8th 2007 by maggie

79. I am so sorry to hear Jacko is having financial issues that it is driving me into a state of deep depession. The only thing that can possibly bring me out of this terrible state of mind is the day Neverland is actually sold by the sheriff on the steps of the county courthouse. Couldn't be happening to a nicer guy!

Posted at 8:34PM on Nov 8th 2007 by NuHomes

80. Good for the perv.

Posted at 8:46PM on Nov 8th 2007 by carcrazy714

81. INOCENT TILL PROVEN GUILTY ! I FELL SORRY FOR HIM. I THINK HE HAS HAD A HARD LIFE AND HAS TAKEN ENOUGH OF AL YOUR STUPID REMARKS.

Posted at 8:55PM on Nov 8th 2007 by LET HE WITHOUT SIN THROW THE 1ST ROCK

82. And I'm supposed to care about this latest chapter in MJ's life because...?

Posted at 8:46PM on Nov 8th 2007 by Jeffrey H. Baer

83. there is something seriously wrong with MJ..he runs around the country wearing one white glove and sings "beat it"

Posted at 4:19AM on Nov 9th 2007 by an all american country boy

84. shame what happens to a guy who can't be himself and come out of the closet from an overbearing father....all screwed up

Posted at 9:14AM on Nov 9th 2007 by Garry

85. Too bad, I mean where else but America could a poor black boy become a rich white woman

Posted at 9:01PM on Nov 8th 2007 by rodger

86. just so we're clear... This is Bush's fault too, right?

Posted at 9:02PM on Nov 8th 2007 by juschekkin

87. We have been hearing for years that MJ is bankcrupt yet he keeps going and going...I think its mostly rumors

Posted at 9:03PM on Nov 8th 2007 by Janet

88. This lunatic has no money left because he has to pay all his little boyzzzz off, he is stigmatized for life and his career is ruined. Even the record companys dont want nothing to do with him. Quincy jones tells michael im busy with other things to help you. Jackson dug his own grave and now needs to jump in it.

Posted at 9:08PM on Nov 8th 2007 by eddie

89. What good is Neverland now that he can't use it to attract young boys for sleep over parties?

Posted at 9:38AM on Nov 10th 2007 by Dude

90. You all just wish you were Jacko. He's dreamy!
More like nightmarey

Posted at 9:37AM on Nov 10th 2007 by Dude

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