Veronica Hearst is not the only famous and formerly rich person grappling with the soul crushing and credit wrecking world of foreclosure. Fortress Investments, the long suffering lender who holds the multi-million dollar mortgage on Michael Jackson's once beloved Neverland Ranch, has reached the end of their patience rope with the financially strapped and fallen music icon.
According to the always well informed celebrity gossip Roger Friedman who pens the Fox 411 column, Neverland Ranch has been foreclosed on and is scheduled to be sold at auction on March 19 unless The White Lady manages to scrounge up $24,525,906 and 61 damn cents. And quick.
If the 2,600 acre ranch on Figueroa Mountain Road in the Santa Ynez Valley is auctioned off on the steps of the Santa Barbara county courthouse, the sale will include "every single thing that is or isn't nailed down" including furniture, fixtures, appliances, and "all merry go round type devices." It would be fascinating to know what objects and personal items Mister Jackson left behind when he fled Neverland Ranch in shame and humiliation in June of 2005 after being acquitted of child molestation charges.
No one, including Mister Friedman and Your Mama, thinks Mister Jackson can or will do anything to stop the sale of Neverland Ranch. The man is broke and hideously leveraged as it is. We presume he will spend the next few weeks praying that the sale produces enough dough to pay off Fortress so he can finally wash his hands of the ugly affair. If the auction of Neverland Ranch does not produce a satisfactory bid, Fortress is likely to take possession of the ranch and list is with a local realtor, a turn of events that will have every real estate gossip in the world salivating and hoping to swing a seat on the press tour.
Poor Michael Jackson. The man was once a musical force and prodigy who sat on top of the world, and now his entire world is collapsing around him including Neverland Ranch. Your Mama hopes he's on the horn right now trying to convince Tito or LaToya to let him move in with one of them because the Dr. Cooter is adamant that The White Lady and his trio of cute kids can not, under any circumstances, come live with us.
Source: Via the Real Estalker
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#1 How ridiculous
Whatever is Michael Jackson's financial situation, it is his to deal with; not the media's. I'm all for sarcasm and flippant remarks in reporting (I'm a huge Daily Show fan), but the personal insults in this article aren't funny. They come off as hateful and lame. Nobody, including Roger Friedman, know anything about the full extent of Jackson's finances unless he is currently in control of them. Not to mention he has frequently been wrong in the past. He's been saying Michael Jackson was broke since 2001 and have gave dates previously about the demise of Neverland. I don't know what Michael Jackson plans to do or not do with the property, but you can bet it ain't any of our business.