EveryJoe » 2-million-foreclosures-2009 http://www.everyjoe.com Sports News - Tech Reviews - Entertainment - Life Tips for EveryJoe Sat, 13 Mar 2010 12:29:24 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Michael Jackson Foreclosure: Celebrities Have Money Problems Too http://www.everyjoe.com/articles/michael-jackson-foreclosure-celebrities-have-money-problems-too/ http://www.everyjoe.com/articles/michael-jackson-foreclosure-celebrities-have-money-problems-too/#comments Thu, 08 Nov 2007 14:57:42 +0000 Miranda Marquit http://www.yieldingwealth.com/michael-jackson-foreclosure-celebrities-have-money-problems-too/ Post from: EveryJoe

Michael Jackson Foreclosure: Celebrities Have Money Problems Too

]]> With 2 million foreclosures expected by 2009, some may be tempted to think that only “regular” folks are affected. But even celebrities have money problems (but for very different reasons).

Witness Michael Jackson. His Neverland Ranch is in foreclosure. He ended up over-leveraging his home with a $23 million mortgage loan. And Fortress Music Trust, the company that loaned him the money, was unable to sell the debt. So they initiated foreclosure proceedings.

Looks like both Michael Jackson and Fortress Music Trust made poor finance decisions regarding Neverland Ranch.

Post from: EveryJoe

Michael Jackson Foreclosure: Celebrities Have Money Problems Too

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