Michael Jackson could lose Neverland Ranch due to deliquent
Posted by eBestAgent in REAL ESTATE NEWS, tags: Foreclosure, NEWS, REAL ESTATE NEWSMichael Jackson might lose Neverland Ranch after being delinquent on $23 million loan payments.
Michael Jackson, once “King of Pop” is at risk of losing his 2,800 acres Neverland Ranch in California due to delinquent loan payments.
Jackson owed $23,212,963.00 on a $23,000,000.00 loan he took out in April 14, 2006, according to a foreclosure and notice of default report posted online by the California branch of Fidelity National Financial insurance company.
Neverland Ranch is 2,800 acres, is located in Los Olivos, Santa Barbara county about 125 miles northwest of Los Angeles.
Notice of Default in California are usually issued when a homeowner misses their third payment.
The eccentric music legend has been struggling to rebuild his career following his acquittal for child molestation charges in 2005.
Jackson left the property in June 2005 after being acquitted of the child molestation charges and has been living in Bahrain, Europe and Las Vegas in the western US state of Nevada.
In mid-July, Jackson was ordered to pay more than $256,000 dollars in overdue fees to a California law firm he employed for work connected to his sex abuse trial.
Technorati Tags: Michael Jackson, Neverland Ranch
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we would sureley miss the King of Pop. Rest In Peace MJ-:~
we would sureley miss the King of Pop. Rest In Peace MJ~**
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