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Mortgage Co. to La Toya -- Pay Up or 'Beat It'

9/11/2009 2:14 AM PDT BY TMZ STAFF

La Toya JacksonLa Toya Jackson is days away from losing her Las Vegas home -- unless she comes up with enough cash to pay the mortgage by the end of the month.

According to legal documents obtained by TMZ, La Toya owes $745,670.27 on her swanky condo in the Regency Towers of the LV International Country Club.

The docs show the house will go up on the auction block if she doesn't pay up.

The Clark County Recorder's office tells us the auction was originally schedule for August 31 -- but it was postponed. The new auction date is September 30.

La Toya's rep gave us this statement:

"La Toya has an extensive real estate portfolio and her advisors directed her to the business decision to let this particular property to go to short sale where it is now.

The property was also something she got during her divorce from Jack Gordon and she has no attachment to it."

64 COMMENTS

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1.

Simone    

First!!!!!!!!!!!!!

1785 days ago
2.

Simone    

I will be the first, Kooky. Just keep looking at me... :P

1785 days ago
3.

Simone    

Ahaaaannnn!!!!!!! Because of this kind of things La Toya is preparing herself to go on tour. I heard that she is even going to Brazil to make a concert. I don't know if this is true, but, she have to enjoy the moment to earn some cash. Hehehe.

1785 days ago
4.

Look at all the WJ spermette cheerleaders on TMZ. WJ rahrahrah!    

cant wacko turkey basters help at all..........................insanity rules their lives....................

1785 days ago
5.

LucyInTheSky    

I love you LaToya, but take some good advice. Start selling some more of your family stories, secrets this time, to the THE SUN.

You'll get more for them than those pics of MJs deathbed.

1785 days ago
6.

Simone    

So, she have to enjoy the comotion over Michael's death to have some face time and earn some cash making crap "music". I don't know, but maybe this could be the last chance to get some atention of the media and public. Without Michael, nobody cares about Jackson family, they are a bunch of losers.

1785 days ago
7.

LucyInTheSky    

6. cant wacko turkey basters help at all..........................insanity rules their lives....................

Posted at 1:24AM on Sep 11th 2009 by MIS IT QUEEN
-----------------------------
worth a try. my blessings.

1785 days ago
8.

LucyInTheSky    

Easy come, easy go LaToya.
Chin up things get better.

1785 days ago
9.

sickofittoo    

Sweet Jesus ...
Exhibit one- she was one of the first at Carolwood Drive and took the hard drive with MJ's songs amongst other possessions...
Only Janet can handle her money , the rest of them are so irresponsible and ultimately squander through money without any respect for it.
She drives a Bentley Continental GT , 200,000.00 + for the car and she is losing her LV home, good going La Hoya.

1785 days ago
10.

sickofittoo    

LATOILET - SCREAMING LAUGHING , CLASSIC

1785 days ago
11.

sickofittoo    

Let me tell you why this statement is crap - a short sale is the same as a foreclosure on your credit report , it is VERY serious in terms of ruining one's credit .
So her decision to "let it go" is alien jargon for I can't afford to make the paymen ts on 750,000.00 which is roughly 4000.00 a month on a 30 year term.
She could have converted it into a 40 year mortgage and dropped the payment to 3000.00 a month - what a COMPLETE LIAR AND A LOSER.
Sell your damn car to make the payments...

1785 days ago
12.

cindee    

SURPRISE SURPRISE

Where's Mama, Where's Michael????????
Latoya you trashed your own "Brother"
But you knew where to go when you needed
money.............

1785 days ago
13.

sickofittoo    

Maybe her friend Hugo Chavez can loan her the cash and save her desert home that her ex husband in itially bought and put both their names on the Deed. She got it out of the divorce and now the deed is all on her...
It's a helluva score , when you get something in a settlement and have to make payments on it , lol. Idiot.
How utterly embarrassing.

1785 days ago
14.

lovemjforever    

Please support Michael for Nobel Peace Prize.

"Michael Jackson Nomination 2010 Nobel Peace Prize"
Pls search Google and fill the petition. Takes only 1 minute.

Thank you.

Love you MJ. Rest in peace.

1785 days ago
15.

moveover    

So, in other words, she's just like everyone else who agrees to pay back a mortgage and then defaults on the loan. By the way ... what has LaToya Jackson ever done to deserve living in an expenseive property like that?

1785 days ago
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