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Celebrity Justice
Jacko -- Backo Against Wall in Neverland Default!

When news broke last week that Michael Jackson's Neverland Ranch was in foreclosure, his rep was quick to slam the reports, proclaiming that Jacko "was never in default of the loan." Off the wall?
Jacko default notice
It appears so, as The Mortgage Lender Implode-o-Meter (yep, that's the full name) has obtained a "Notice of Default and Election to Sell" that makes it clear that the property is in foreclosure, because the loan and interest in the amount of $23,212,963.83 is way, way overdue. The notice specifically states that "a breach of, and default in, the obligations for which the Trust Deed is security -- has occurred" -- because payment hasn't been made.

A silver lining for the King of Pop? The document says that he can still offer the property for sale, as long as the deal gets sealed before the foreclosure is wrapped up. Jackson's rep says that her earlier statement stands.



Tags: Michael Jackson, MichaelJackson

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(Page 1 of 5) | 1 | 2 | 3 | 4 | 5 | Most Recent | Next 15 Comments

1. Normal people would already be in court if they owed that much money

Posted at 6:32PM on Nov 12th 2007 by ems_wench

2. I'm surprised that this place hasn't burned down by now.

Posted at 6:33PM on Nov 12th 2007 by Plain Broke

3. Weird. He's owned it for so long, you'd think he would have paid it off by now with all the money he made!

Why do these people blow every single dollar they make and save nothing. Like Britney.

Posted at 6:35PM on Nov 12th 2007 by Nobody

4. I've been hearing this for 15 years. For somebody who has no money, he sure gets around.

Let me know when he REALLY loses Neverland. These stories have been running forever. It's not true.

Posted at 6:39PM on Nov 12th 2007 by Master P

5. I see a pattern - for years now, if his reps deny something, it is always proven true, eventually............

Posted at 6:40PM on Nov 12th 2007 by I dont watch Price is Right anymore.

6. Now that TMZ has it all over the news - it will be torn down for scrap by thieves.



And Wacko dont care.


Thanks for the comments.

Have a nice day.


Posted at 7:26PM on Nov 12th 2007 by Fly on a Wall

7. ems_
normal people would never owe that type of money. Financial laws are in place to protect the rich and keep them rich. The average Joe's place would have been padlocked, 2 weeks before it was suppose to be.

Posted at 6:49PM on Nov 12th 2007 by kittykittykitty

8. The land is cursed, first because it was an indian burial ground, next because Jacko Wacko molested lots of little boys there.
It should be sowed with salt.

Posted at 6:52PM on Nov 12th 2007 by L.A. Douchenozzle, Esq.

9.

Wacko though is the perfect radical liberal low class Democrat - so like STD Orenthal & fat midget Robert Blake - look for him to sneak his lazy backside out of this too.


Posted at 6:57PM on Nov 12th 2007 by 9

10. Meh, I've been reading stories that Neverland has been sold or put up for sale since the 90's, and that Michael Jackson has been broke since the late 80's. Who knows...

Posted at 6:57PM on Nov 12th 2007 by No2

11. i hope brangelina buys it!

Posted at 7:01PM on Nov 12th 2007 by rosiethunder

12. When Jackson was in financial problems way back after being accused of molesting a minor, he needed money and therefore mortgaged his property. WELL, his career went down the crapper after that and all the money he "thought" he would make never came about. This should answer the questions of why you thought it was paid for or why did he not pay etc etc.
Jackson has made several bad investments whether by his own doing or under advisement.
However, maybe I am a realist, but I can't see anyone advising him to have and maintain a private amusement park and zoo. Just the cost alone to maintain and care for all of that is astronomical.
Unless someone like BIll Gates or a Middle Eastern Prince buys it for their children, I can't see him selling it before foreclosure takes place.
Don't know about you, but I would rather choose a house a bit less ostentatious and be left money in the bank to live more comfortably and hopefully debt free. But then again it all comes down to "keeping up with the Joneses".

Posted at 6:59PM on Nov 12th 2007 by LeeAnn

13. That dumb gal Bain or something who is his spokesperson doesn't know ****

Posted at 7:04PM on Nov 12th 2007 by Virgie Double-Wide

14. Saying that it was not in foreclosure is like saying that wacko jacko has never touched any little boys privates, and we know he has.

Posted at 7:17PM on Nov 12th 2007 by Spurs

15. LeeAnn - please spare us your mini novels - no one is going to buy that wretched piece of ground for even 10 cents on the dollar - it is child abuse & Indian burial abuse satanic cursed.


PS - given how bleached Wacko's skin is - it must be the white man's perversion - esp. when Wacko looks in the mirror.

Posted at 7:06PM on Nov 12th 2007 by Q

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