Tuesday, November 13, 2007

More Michael Jackson Foreclosure Madness

Your Mama just loves us some Raymone Bain. The stern and loyal spokesladee for Michael Jackson has got to be falling down dizzy after all the spinning she's done regarding the possible foreclosure on Neverland Ranch, The White Lady's personal playground in Los Olivos, CA.

Late last week, after news broke far and wide about Neverland Ranch being in foreclosure, Miz Bain adamantly stated that Mister Jackson "was never in default of the loan" and that he was simply in the midst of refinancing. But according to The Mortgage Lender Implode-O-Meter, Miz Bain is not being entirely truthful about the status of the $23,000,000 loan (plus $212,963.83 in interest) that was secured by the value of Neverland Ranch.

While it's not certain that Mister Jackson will indeed lose the vast and over developed property (he can always make good on what's owned on the loan or sell the property to repay the loan), title documents dug up by Implode-O-Meter clearly show that Michael J. Jackson is currently in default of the leviathan loan and the nasty foreclosure process has begun. Uh oh. Somebody in Jackson's camp had better put a fire under whatever bank is foolish enough to refinance The White Lady's considerable debt.

Your Mama hopes that Mister Jackson's attorneys, or whomever it is that manages his affairs these days, are burning up the phone lines to all the high end brokers in Santa Barbara and Los Angeles quietly inquiring if they know of any investors interested in sub-dividable 2,700 acre ranch with a petting zoo, teepee town, private train and station (pictured above courtesy of Pacific Coast News), a broken down amusement park, and a sprawling, poorly decorated Tudor style house that includes a two story heavily fortified master bedroom suite.

Your move Miz Bain.

13 comments:

Anonymous said...

wasn't john bersci going to buy it?

average joe said...

Pitt and Jolie want it as well;

Aunt Mary said...

Mama, what happened to your last posts? Where did Calvin Klein go? Pffft. Gone.

Anonymous said...

Strapping Hunk here. I thought I having a flashback from that face full of medicinal marijuana Aunt Mary gave me yesterday. Strapping Hunk out.

Anonymous said...

Hey, so, where did the Calvin Klein post go? Please explain this to all of us!

Anonymous said...

Why would Brad & Angelina want it? They have a property at the northern end of Malibu & a property in Santa Barbara - why would they be interested in this place when they seem to spend very little time in Cali & already have so many properties in this part of the country? - & also their properties in the Hollywood Hills - Think it's prob just a rumour.

Mama, what happened to Calvin? Wrong unit?

luke220 said...

The pic is not the house at Neverland ranch, is it? I always thought that this is just the train station. Any pics of the main house?

so_chic_darling said...

Calvin Klein is a ghost,the last time i saw him in the West Village i got such a fright!

average joe said...

They think the security system is the best out there, no paps, peace and quiet not to mention a built in carnival, I think I saw it on CNN or rueters.

Anonymous said...

They have security at each of their properties [in the form of security guards] & paps travel.

Anonymous said...

Mama, someone is pretending to be Stapping Hunk again. I think we need to out the Hooker.

Anonymous said...

I can't imagine the Pitt-Jolie family being interested either.

Brad is known to like architectural properties and this one isn't even close. I can see Angelina wanting a private park for the kids but I have a feeling this one needs a lot of work. No one has been living there for a couple of years...

Anonymous said...

That photo is a building on the property and not the actual mansion itself.