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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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76.

Nancy    

GOOD RIDDANCE.

2484 days ago
77.

raceem    

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.

2484 days ago
78.

Steve    

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.

2484 days ago
79.

brits pal    

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!

2484 days ago
80.

NuHomes    

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!

2484 days ago
81.

Animal Lover    

Good for the perv.

2484 days ago
82.

LET HE WITHOUT SIN THROW THE 1ST ROCK    

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.

2484 days ago
83.

Jeffrey H. Baer    

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

2484 days ago
84.

an all american country boy    

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

2484 days ago
85.

Garry    

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

2484 days ago
86.

rodger craig    

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

2484 days ago
87.

juschekkin    

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

2484 days ago
88.

Mdolla    

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

2484 days ago
89.

eiide    

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.

2484 days ago
90.

dude    

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

2484 days ago
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