Tabloid Hell: Is Michael Jackson on the brink of being homeless?
The pop star could lose his Neverland Ranch
Michael Jackson will reportedly lose his Neverland Ranch home if he fails to pay off a massive loan.
The pop star owes approximately $23 million on the California property that must be paid off by January.
If he fails to do so, investment company Fortress Trust will reportedly foreclose on the loan and auction off the house.
According to Dotmusic, Jackson currently resides in a rented property in Washington, and would essentially be homeless if he loses Neverland Ranch.
--By our Los Angeles staff.
Find out more about NME.
The pop star owes approximately $23 million on the California property that must be paid off by January.
If he fails to do so, investment company Fortress Trust will reportedly foreclose on the loan and auction off the house.
According to Dotmusic, Jackson currently resides in a rented property in Washington, and would essentially be homeless if he loses Neverland Ranch.
--By our Los Angeles staff.
Find out more about NME.
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