Celebrity Gossip From Star Muscle

Michael Jackson\'s Neverland Ranch Foreclosure

January 12th, 2008 • Related • Filed Under

Michael Jackson’s 2,900-acre Neverland Ranch may be vulnerable to foreclosure next Friday. The fabled ranch, scene of many parties for children and at least a couple of police raids, may be vulnerable to foreclosure next Friday.  Oh boy, maybe it will be put up on PedophileBay. According to sources, the mortgage broker trying to find refinancing for Jackson on a $23 million loan held by Fortress Investments using Neverland as security has so far come up empty. There is literally no interest from anyone in saving Jackson in this situation. I predict that George Michael, Elton John, or CLAY AIKEN will buy the ranch and keep the spirit alive.  Boy, if those walls could talk….. If the writers weren’t on strike, I would have CSI Las Vegas, CSI New York, and maybe Miami do some DNA scrapings around the Neverland Ranch.

Neverland Ranch Foreclosure MJ in Trouble

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There Are 3 Responses So Far. »

    Comment by gerard Vandenberg on 18 January 2008:

    HE WASN’T A FARMER ANYWAY!!

    Comment by Celebrity Gossip on 8 March 2008:

    Michael Jackson hired looters to “clean out” his abandoned Neverland Ranch in an effort to prevent many prized personal belongings from ending up on the auction block when the property falls to foreclosure later this month. The auction of the 2,800-acre Santa Maria County, California ranch would include all personal property, including furniture, rides and games.

    “Michael was livid. He had been doing everything he could to pay off the taxes and loans to keep the property,” an insider told The National Enquirer.

    “He instructed some close associates to remove some belongings at the estate so they wouldn’t face the auction block. The associates apparently got a little carried away - they ended up pillaging the place.”

    “Some rooms are empty. But the rusting Ferris wheel is still out there. It’s going to take a crane to remove it.”

    Comment by Celebrity Gossip on 13 May 2008:

    Surprise! The public auction of Michael Jackson’s Neverland Ranch has been canceled. The news came Friday afternoon, just five days before the 2,900-acre spread was set to be sold in public to the highest bidder.

    No word yet on what’s happened, although the likelihood is that Jackson has reached a refinancing agreement with Fortress Investments, the loan holder. They currently hold a $23.5 million note on the property.

    Jackson has been working with a number of friends including financier Ron Burkle, who’s lent his support but not his money in trying to help Jackson out of this predicament.

    Of course, whatever’s happened, the only real solution is for Jackson to sell the property now, pay off all his loans and invest the money wisely. What are the chances of the last part happening? Not great, but you never know.

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