Mortgage, Housing Market Woes Hamper Michael Jackson

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The nation's housing market and mortgage woes continue to swell.

These disturbing trends have left everyone - CEOs, the Federal Reserve, George W. Bush, Hillary Clinton, Barack Obama and so many more - wondering how to avert an escalating crisis that threatens the very fabric of our economy.

Like so many Americans, Michael Jackson has been hampered in recent months by rising interest rates and increasing house payments. It's tragic.

The Associated Press reports that the self-proclaimed King of Pop's famed Neverland Ranch may soon be hitting the auction block.

The 2,500-acre Santa Barbara, Calif., estate will be up for sale if Jacko doesn't pay $24 million in back California home loan payments.

Even Michael Jackson can't escape the nation's credit crunch.

Of course, this is a man who burns through money 10 times faster than Britney Spears, which is saying something. Could have a little to do with it.

Financial Title Co. filed the notice of trustee's sale in Santa Barbara County Superior Court on Tuesday. An auction date is set for March 19.

To think, the location of so many sordid trysts with minors could be all yours. Also up for grabs - the home's furnishings and items on the property.

If Neverland Ranch hits the auction block, it could carry a price tag even higher than the $24 million owed, due to interest and other costs.

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Michael Jackson Biography

Michael Jackson mug shot Michael Jackson was the King of Pop, with the best-selling album of all-time and more than a dozen massive hits. After years of physical... More »
Born
Died
Birthplace
Gary, Indiana
Full Name
Michael Joseph Jackson
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