Update: Michael Jackson’s House Debt Revealed to Public

According to public documents, pop superstar Michael Jackson has repeatedly failed to pay the mortgage of a Los Angeles house used by his family. The news comes after it was revealed that he could lose his Neverland ranch in an auction because he owes $25 million 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. The missed payments relate to a $4 million 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. As Singersroom previously reported, If he does not pay the $25 million in debt that he owes on the massive California property, it will go to auction on 19 March.


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