Michael Jackson to lose Neverland

Former king of pop Michael Jackson is on the verge of losing his famous Neverland ranch for failing to pay his mortgage.

The news just keeps getting worse for Michael Jackson. After recently admitting he has the disease Lupus Erythematosus the artist formerly known as the king of pop faces having his once iconic Neverland Ranch repossessed. Jackson took out a $23million loan, using the property as collateral, but has fallen $212,000 behind in repayments. And that’s not the singer’s only financial woe, he’s also facing a $7million lawsuit brought by Prince Abdullah of Bahrain who claims Jackson backed out of a recording contract after being paid.

 

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