Michael Jackson Neverland Ranch in Foreclosure

Michael Jackson has received notice that his Neverland Ranch in Santa Barbara will be sold at public auction on March 19, 2008 unless he comes up with $24,525,906.61 to pay off the loan. The auction will include all personal property inside, all fixtures, appliances, furniture, and the rides outside.
Neverland Ranch is worth about $7 million in the current real-estate market. On at least one other occasion this year, Michael missed payments on the $2 million mortgage.

The last time this happened it was reported that Jackson’s sister Janet Jackson paid the back installments, which includes fees and back pay due to employees at Neverland.

MICHAEL JACKSON NEVERLAND

Neverland Ranch May Go to Auction Block

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Michael Jackson Neverland Ranch in Foreclosure

Neverland Ranch May Go to Auction Block

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