Michael Jackson Neverland Ranch in Foreclosure
Posted on November 7, 2007 at 12:59 am (PST)
Michael Jackson has a $23 loan for Neverland Ranch, but owes $212,963 in interest on the loan’s principal, so the property is going back to the bank. Once Jackson had bragged to Elvis he would be a bigger star and richer, but it looks like Elvis wins because he’s richer even now dead, than Jackson is alive. Neverland probably still haunts Michael’s nightmares. I doubt he ever wants to see that place again.
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I think you mean he owes $212,963 in interest. $23 million is the principle of the loan.
Comment by v — November 10, 2007 #