Michael Jackson Facing Further Financial Troubles

On another family home...

by Jason Gregory
Friday, February 29, 2008
Photo by: PR Photos
filed in: Pop

Michael Jackson Facing Further Financial Troubles

More Michael Jackson

Michael Jackson is facing further financial trouble after documents emerged showing that the pop star has failed maintain mortgage payments on a family home.

The public documents, which were filed with the Los Angeles country recorder, relate to a family owned property in Encino, California.

According the papers, as of January 17th Jackson had missed $153,910 worth of payments on a $4m loan issued by Indymac Bancorp, a Californian mortgage lender.

The documents also show that Jackson faced default over missed payments on the home in April and August last year, reports AP.

Earlier this week it emerged that Jackson faces losing his Neverland ranch unless he can pay $25 million worth of outstanding arrears on the estate.

If Jackson fails to pay by March 19th, the property, which includes a fairground and zoo, will go up for auction.

« Prev

Amy Winehouse Will Not Face Police Charge In Husband's Case... Next »

(2)

well most of major purchases were financed with that Beatles Catalog. He financed his icon image with mostly their music rights. NOT his, at his peak of Thriller with the Victory Tour he couldnt even sell out ”most” of the concerts! They gave away tons of tickets to make it look half filled.
~ by Erin 2/29/2008
Silly girl ...
~ by HeNK! 3/1/2008

Most Viewed
Most Comments
Just Added

RT @Gigwise: Lady Gaga To Perform For The Queen In London: At the Royal Variety Performance... http://bit.ly/5gj2VO *can you imagine it?+
mistadee on Sat Nov 21 21:07:21 via Tweetie
RT @Gigwise: Lady Gaga To Perform For The Queen In London: At this year's Royal Variety Performance... http://bit.ly/5gj2VO
evatography on Sat Nov 21 17:02:38 via UberTwitter
MOTHERFUCKING YES!!! RT @Gigwise: Daft Punk 'To Play London and Manchester Shows In 2010': It's reported... http://bit.ly/CQsc8
christog on Fri Nov 20 22:47:41 via TweetDeck
RT @Gigwise: Gibson Guitars Raided Over Alleged Use Of Rare Madagascan Timber: Their Tennessee HQ is stormed... http://tinyurl.com/y96zc2s
SheyMcfez on Fri Nov 20 17:14:17 via Gravity
RT @Gigwise Gibson Guitars Raided Over Alleged Use Of Rare Madagascan Timber: Their TN HQ is stormed http://tinyurl.com/y96zc2s < Not good
alternageekorg on Fri Nov 20 17:12:50 via web