‹ Oregon Foreclosure Homes — Deal of the Day •
It appears that “The King of Pop” music, Michael Jackson, is getting closer to losing his sprawling Neverland Ranch estate located in Los Olivos, Calif., to foreclosure.
Here’s the latest from FOXNews.com:
“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. If Neverland is not refinanced, Fortress can foreclose and sell the ranch at auction. “
Back in November 2007 we first passed along news that foreclosure action was possible on the massive home located at 5225 Figueroa Mountain Road in Santa Barbara County. To check out the listing on Foreclosure.com click here.
The report indicates that Jackson’s Neverland Ranch “may be vulnerable to foreclosure next Friday [January 18].” Stay tuned for more details.
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4 comments
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January 11, 2008 at 10:31 pm
Colleen K. Cotter
Well, Michael is probably too busy maintaining his lifestyle to worry about his estate. Poor giraffes…
Colleen
January 15, 2008 at 7:08 pm
Draper
Poor, Psycho Michael.
January 28, 2008 at 2:38 pm
Mark Battles
Actually, my company was one of the company’s who were set up to do the financing on this project. We had a deal lined up to bail him out of the foreclosure but unfortunately the people handing his real estate wouldn’t produce the required documentation to fund the deal. We are fairly certain that the client was unaware of the loan programs which were available to him, or the other alternative financing options that could have been presented in order to rectify his foreclosure situation.
Mark Battles
BC Mortgage
Orlando, FL 32836
http://www.BCMortgage.cc
February 4, 2008 at 3:57 pm
yoshira
its too bad that this is happening to him. i am sure anyone who is going or has in the past gone through foreclosure knows how devasting this is. I am routing for you Mike to be able to save your home.