Mortgage, Housing Market Woes Hamper Michael Jackson

by at . Comments

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.

Tags:
Like Us On Facebook

More From The Hollywood Gossip

The-moonwalk

Michael Jackson Death Anniversary: Five Years Later ...

June 25 is the five-year anniversary of Michael Jackson's death. The King of Pop died in 2009 at the age of 50.
17-weirdest-celebrity-couples_macaulay-culkin-and-mila-kunis

17 Weirdest Celebrity Couples of All Time

Hollywood hookups can get totally bizarre. Here are 17 weird celebrity couples we never saw coming.
Jermaine-jackson-michael-jackson-and-justin-bieber-wouldve-been

Michael Jackson Would Set Justin Bieber Straight, Says Brother Jermaine

Jermaine Jackson talked with TMZ about Justin Bieber recently. Jermaine believes Michael Jackson would have been a positivie influence on the troubled pop star.
Brett-nichols-dances-to-smooth-criminal

Brett Nichols, AMAZING Michael Jackson Impersonator, Dances to Smooth Criminal

Brett Nichols makes like Michael Jackson in this incredible video. Watch him go!