Across the nation, foreclosures are rising. So it isn't that big a surprise that some of the rich (well, formerly rich) and famous are experiencing foreclosures as well. One of the latest foreclosure risks? Neverland Ranch.
Michael Jackson's retreat, the infamous Neverland Ranch, may be foreclosed if the former pop star can't come up with the nearly $25 million he owes on the Neverland mortgage. Reuters reports on the possible Michael Jackson foreclosure:
According to the documents, if Jackson fails to pay the outstanding balance, estimated at $24.5 million, Neverland would be sold to the highest bidder at a public auction on the courthouse steps.
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