Skip to main content
BBC NEWS / ENTERTAINMENT
Graphics VersionBBC Sport Home
News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia | UK | Business | Health | Science & Environment | Technology | Entertainment | Also in the news | Have Your Say |
Entertainment Contents:  Arts & Culture

Friday, 29 February 2008, 12:42 GMT

More Jackson house debts revealed

Michael Jackson Singer Michael Jackson has repeatedly failed to pay the mortgage of a Los Angeles house used by his family, public documents show.

The news comes after it was revealed that he could lose his Neverland ranch because of arrears of $25m (£12.5m).

Documents filed with the Los Angeles country recorder relate to a property in Encino, California, that has been used by the singer's family for years.

They show the singer has missed payments of $153,910 (£77,589).

The missed payments relate to a $4m (£2m) loan from mortgage lender Indymac Bancorp, based in Pasadena, California.

Documents show Jackson previously faced possible default over missed payments on the property due in April and August of last year.

According to reports, the 49-year-old is seeking a new loan that would save Neverland from being sold at auction next month.

If he does not pay the $25m arrears that he owes on the sprawling California property, it will go to auction on 19 March.




E-mail this to a friend
Related to this story:
Jackson faces Neverland auction (27 Feb 08 |  Entertainment )
Jackson 'will not lose Neverland' (10 Nov 07 |  Entertainment )
Jackson 'ignores negative press' (08 Nov 07 |  Entertainment )

RELATED INTERNET LINKS
Michael Jackson
Indymac Bank
The BBC is not responsible for the content of external internet sites



SEARCH BBC NEWS: 

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia | UK | Business | Health | Science & Environment | Technology | Entertainment | Also in the news | Have Your Say |
Entertainment Contents:  Arts & Culture

NewsWatch | Notes | Contact us | About BBC News | Profiles | History

^ Back to top | BBC Sport Home | BBC Homepage | Contact us | Help | ©