The Neverland Ranch is in Forclosure

Allie @ Gone Hollywood | Wednesday, November 7, 2007

While Michael Jackson is busy appearing on the cover of Ebony Magazine, it appears his home is going into foreclosure.

The Neverland Ranch is in Forclosure - PIC

The Implodemeter has obtained the foreclosure and Notice of Default report for Santa Barbara County — and Neverland is listed. According to the report, Jackson is, as of October 12, delinquent $23,212,963 on a $23,000,000 loan.

Notice of Defaults in the state of California typically go out when a homeowner misses their third payment. After 30 days, the homeowner is issued a foreclosure notice. According to this document, it appears that the King of Pop is $212,963 delinquent on the loan’s principal of $23 mil.

A rep for Jackson did not immediately return our call for comment.

Micheal Jackson is undeniably a freak. There was a day when I loved his music, but I just can’t find it in myself to feel sorry for him over his financial troubles. The dude spends millions on trivial unnecessary bullshit.

If you haven’t seen his spread in Ebony Magazine, you are in for a good laugh. He’s been photoshopped to look like he did 15 years ago.

source: Neverland in Foreclosure? [tmz]