Michael Jackson can't pay his mortgage debts
To add insult to injury, news was also just released about another home he owns in Encino, CA (a home his family uses) showing that may be struggling with this $4 million loan. As of January 17th the singer had $153,910 in missed payments. The default notice was withdrawn as of February 7th, so he may have caught up or worked some deal with his lender. But records also indicate that he had also been in default last April & again last August--DUDE--wake up & pay your bills! He was once a world-wide legend and now he's what?
He's a dude that vowed he would never return to Neverland Ranch after the 2004 child molestation investigation took place. However, even though he supposedly doesn't plan to return to his Ranch home, he still wants to save it. He's currently looking into new financing that would pay off the current loan and put him into a new loan on the property--a source told CNN that "The financing is all being worked out. There are plenty of lenders willing to work with him."
If he can't save it? Well, everything--& they mean EVERYTHING--will be auctioned off:
"All trees, shrubs and plants, sculptures, statuary and other outdoor artistic creations and displays...all railroad equipment, trains, locomotives, rail cars and other rolling stock...all Ferris wheels, carousels, merry-go-round type devices, indoor and outdoor gymnasium and athletic equipment..." (statement reportedly from the court document).
