Records: Jackson late on home payments
www.chinaview.cn 2008-02-29 10:18:33   Print

Michael Jackson flashes a V-sign at Narita international airport, near Tokyo, in this 2007 file photo. [Agencies]

Michael Jackson flashes a V-sign at Narita international airport, near Tokyo, in this 2007 file photo. [Photo: chinadaily.com.cn/Agencies]
Photo Gallery>>>

Michael Jackson's Neverland Valley Ranch will be sold at auction on March 19 unless the pop star pays off nearly 25 million U.S. dollars by that date, media reports said Tuesday.

U.S. pop star Michael Jackson waves to fans at a U.S. military facility in Tokyo, as he walks to board a helicopter bound for Camp Zama, a U.S. military base west of Tokyo, to join a fan appreciation event March 10, 2007. (Xinhua/Reuters Photo)
Photo Gallery>>>

    BEIJING, Feb. 29 -- Public documents show Michael Jackson has repeatedly failed to make mortgage payments on a Los Angeles home that has been used for years by his family.

    Documents filed with the Los Angeles County Recorder's Office indicate the reclusive pop star was most recently in default last month on the property in Encino, an area in the San Fernando Valley.

    The singer had 153,910 U.S. dollars in missed payments as of Jan. 17 on a 4 million dollars loan serviced by Pasadena-based mortgage lender IndyMac Bancorp. Documents dated Feb. 7 show the notice of default was withdrawn.

    Documents also show Jackson previously faced possible default over missed payments on the home in April and August.

    A spokeswoman for Jackson did not immediately return a call for comment.

    Jackson's Neverland property in Los Olivos, Calif., is set to be auctioned off March 19 because of missed payments on a 24.5 million dollars loan.

    (Source: China Daily/Agencies)

Editor: Song Shutao
Related Stories
Michael Jackson's ranch set for auction to pay debt
Home Entertainment
  Back to Top