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Michael Jackson's Neverland Ranch head for foreclosure

The Mortgage Lender Implode-o-Meter has obtained a "Notice of Default and Election to Sell" for Michael Jackson's Neverland Ranch .

According to TMZ, that makes it clear that the property is in foreclosure, because the loan and interest in the amount of $23,212,963.83 is overdue. The notice specifically states that "a breach of, and default in, the obligations for which the Trust Deed is security -- has occurred" -- because payment hasn't been made.

November 13, 2007
POSTED BY Fabien Montique
TAGS Gossip, Michael Jackson

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The Bosh

Michael Jackson's Neverland Ranch head for foreclosure