Your Mama luvs us Roger Friedman at Fox News who reports far and wide that in addition to the bothersome $23,000,000 in loans that The White Lady secured against his former and essentially abandoned Neverland Ranch in rural Los Olivos (just north of Santa Barbara, CA), he apparently also owed more than $600,000 in back taxes that resulted in a state lien against the 2,700 acre ranch. Oh dear jeezis in heaven, this man is a financial disaster zone, ain't he?
Mister Friedman reports today in his Fox 411 column that county assessor records indicate Mister Jackson recently coughed up the $600,000+ (which included fees, and penalties) necessary to satisfy the lien, but he has yet to make good on the $23,000,000 he owes Fortress Investments. Those monstrous loans remain in default and the foreclosure deadline on the former Jackson fun house passed two weeks ago which means that Fortress can begin foreclosure proceedings at any time.
Fasten your seat belts children. Your Mama predicts that if Neverland Ranch does indeed hit the auction block it's going to be an ugly circus of uber rich developers making low ball offers.
Our Mister Friedman goes on to reiterate his previous jaw dropper that his sources have indicated that supermarket mogul and Bill Clinton buddy Ron Burkle may (or may not) have stepped into secure an extension on the Fortress loans. How very nice of him, but we don't understand why he would do that.
Whatever the case, Mister Jackson remains in deep financial doo-doo in regards to Neverland Ranch. Someone in the know please tell Your Mama that The White Lady has authorized the listing and sale of his once beloved home so this part of his real estate nightmare can come to an end.
Jacko Coughs Up $$$ (Fox 411)
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